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Stock Option And Stock Award Plans
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option And Stock Award Plans
STOCK OPTION AND STOCK AWARD PLANS
Tredegar has one equity incentive plan under which stock options may be granted to purchase a specified number of shares of common stock at a price no lower than the fair market value on the date of grant and for a term not to exceed 10 years. One stock option grant was made in 2018, with cliff vesting after two years. Two stock option grants were made in 2017, with one cliff vesting after two years and the other cliff vesting after three years. No stock options were granted in 2016. The option plan also permits the grant of stock appreciation rights (“SARs”), stock, restricted stock, stock unit awards and incentive awards. Restricted stock grants ordinarily vest three years from the date of grant based upon continued employment. Stock unit awards vest upon the achievement of certain performance targets. No SARs have been granted since 1992 and none are currently outstanding.
A summary of stock options outstanding at December 31, 2018, 2017 and 2016, and changes during those years, is presented below:
 
 
 
Option Exercise Price/Share
  
Number of
Options
 
Range
 
Weighted
Average
Outstanding at January 1, 2016
881,513

 
$
17.13

 
to
 
$
30.01

 
$
20.22

Granted
—

 
—

 
to
 
—

 
—

Forfeited and expired
(246,394
)
 
17.13

 
to
 
30.01

 
18.90

Exercised
(134,200
)
 
17.13

 
to
 
19.84

 
17.23

Outstanding at December 31, 2016
500,919

 
17.13

 
to
 
30.01

 
21.67

Granted
209,551

 
15.65

 
to
 
15.65

 
15.65

Forfeited and expired
(60,685
)
 
17.13

 
to
 
30.01

 
21.42

Exercised
(41,265
)
 
19.84

 
to
 
19.84

 
19.84

Outstanding at December 31, 2017
608,520

 
15.65

 
to
 
24.84

 
19.75

Granted
451,083

 
19.35

 
to
 
19.35

 
19.35

Forfeited and expired
(96,089
)
 
15.65

 
to
 
24.84

 
19.58

Exercised
(73,398
)
 
15.65

 
to
 
22.49

 
18.15

Outstanding at December 31, 2018
890,116

 
$
15.65

 
to
 
$
24.84

 
$
19.69


The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2018:
 
 
 
 
 
 
Options Outstanding at December 31, 2018
 
Options Exercisable at December 31, 2018
 
 
 
 
 
 
 
 
Weighted Average
 
Aggregate Intrinsic Value
(In thousands)
 
 
 
 
 
Aggregate Intrinsic Value
(In thousands)
Range of
Exercise Prices
 
Shares
 
Remaining Contractual Life (Years)
 
Exercise
Price
 
 
Shares
 
Weighted
Average
Exercise
Price
 
$
—

 
to
 
$
15.00

 
—

 
0.0
 
$
—

 
$
—

 
—

 
$
—

 
$
—

15.01

 
to
 
17.50

 
163,641

 
5.4
 
15.65

 
34,365

 
—

 
—

 
—

17.51

 
to
 
20.00

 
516,883

 
5.9
 
19.36

 
—

 
65,800

 
19.40

 
—

20.01

 
to
 
25.00

 
209,592

 
4.5
 
23.69

 
—

 
209,592

 
23.69

 
—

Total
 
890,116

 
5.5
 
$
19.69

 
$
34,365

 
275,392

 
$
22.66

 
$
—



The following table summarizes additional information about unvested restricted stock outstanding at December 31, 2018, 2017 and 2016:
 
Unvested Restricted Stock
 
Maximum Unvested Restricted Stock Units Issuable Upon Satisfaction of Certain Performance Criteria
 
Number
of Shares
 
Weighted Avg. Grant Date Fair Value/Share
 
Grant Date
Fair Value
(In thousands)
 
Number
of Shares
 
Weighted Avg. Grant Date Fair Value/Share
 
Grant Date
Fair Value
(In thousands)
Outstanding at January 1, 2016
132,353

 
$
21.19

 
$
2,805

 
167,128

 
$
22.04

 
$
3,684

Granted
144,546

 
13.47

 
1,947

 
136,986

 
11.34

 
1,553

Vested
(52,167
)
 
21.56

 
(1,125
)
 
—

 
—

 
—

Forfeited
(17,377
)
 
18.97

 
(330
)
 
(65,685
)
 
20.24

 
(1,329
)
Outstanding at December 31, 2016
207,355

 
15.90

 
3,297

 
238,429

 
16.39

 
3,908

Granted
107,362

 
18.29

 
1,964

 
46,205

 
17.38

 
803

Vested
(50,154
)
 
19.72

 
(989
)
 
—

 
—

 
—

Forfeited
(57,887
)
 
16.16

 
(935
)
 
(112,501
)
 
17.73

 
(1,995
)
Outstanding at December 31, 2017
206,676

 
16.15

 
3,337

 
172,133

 
15.78

 
2,716

Granted
119,915

 
17.39

 
2,085

 
61,227

 
17.35

 
1,062

Vested
(64,702
)
 
18.31

 
(1,185
)
 
—

 
—

 
—

Forfeited
(17,153
)
 
15.84

 
(272
)
 
(48,651
)
 
13.23

 
(644
)
Outstanding at December 31, 2018
244,736

 
$
16.20

 
$
3,965

 
184,709

 
$
16.97

 
$
3,134


The total intrinsic value of stock options exercised was $0.4 million in 2018, $0.2 million in 2017 and $0.2 million in 2016. The grant-date fair value of stock option-based awards vested was $0.1 million in 2018, $0.4 million in 2017 and $0.4 million in 2016. As of December 31, 2018, there was unrecognized compensation cost of $2.0 million related to stock option-based awards and $1.8 million related to non-vested restricted stock and other stock-based awards. This cost is expected to be recognized over the remaining weighted average period of 1.2 years for stock option-based awards and 1.3 years for non-vested restricted stock and other stock-based awards.
Stock options exercisable totaled 275,392 shares at December 31, 2018 and 385,658 shares at December 31, 2017. Stock options available for grant totaled 1,548,917 shares at December 31, 2018.