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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Components of Share-Based Compensation Expense by Type of Award
The following table lists the components of share-based compensation expense by type of award.
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Stock options
 
$
881

 
$
678

 
$
1,078

Restricted stock
 
1,897

 
1,630

 
1,968

Performance share units
 
1,155

 
2,076

 
2,450

Change in estimate of share-based award vesting (1)
 
(1,111
)
 
(1,968
)
 
—

Share-based compensation expense
 
$
2,822

 
$
2,416

 
$
5,496
Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant and Stock Option Modification
The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in each year.
 
 
2019
 
2018
 
2017
Expected term
 
6 years

 
6 years

 
6 years

Average risk-free interest rate
 
2.47
%
 
2.66
%
 
2.03
%
Expected dividend yield
 
3.53
%
 
1.15
%
 
1.16
%
Expected volatility
 
49.53
%
 
47.69
%
 
56.56
%
Expected forfeiture rate
 
4.00
%
 
4.00
%
 
3.00
%
Reconciliation of Option Activity
The following table summarizes stock option activity for the year ended December 31, 2019.
 
 
Number of Options
(in thousands)
 
Weighted-
Average
Exercise
Price
(per share)
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
 
 
Outstanding at January 1, 2019
 
771

 
$
15.17

 
 
 
 
 
 
Granted
 
210

 
7.93

 
 
 
 
 
 
Exercised
 
(5
)
 
4.42

 
 
 
$
7

 
 
Forfeited or expired
 
(201
)
 
11.96

 
 
 
 
 
 
Outstanding at December 31, 2019
 
775

 
$
13.24

 
5.5
 
$
291

 
(1) 
Exercisable at December 31, 2019
 
530

 
$
14.23

 
4.0
 
$
30

 
(1) 
_______________________________
(1)
The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at December 31, 2019, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity
The following table summarizes unvested restricted stock award activity for the year ended December 31, 2019.
 
 
Number of Unvested
Restricted
Shares
(in thousands)
 
Weighted
Average Grant
Date Fair
Value
Unvested at January 1, 2019
 
146

 
$
22.07

Granted
 
339

 
7.74

Vested
 
(172
)
 
16.62

Forfeited
 
(91
)
 
9.98

Unvested at December 31, 2019
 
222

 
$
9.33
Schedule of Performance Based Awards Goals with Respect to TSR and ROIC
The following table presents the goals with respect to TSR Awards and ROIC Awards granted in 2019, 2018, and 2017.
TSR Awards:
  
Threshold Performance
(50% of Shares)
  
Target Performance
(100% of Shares)
  
Maximum Performance
(150% of Shares)
2019 grants
  
35
 
50
 
75
2018 grants
  
35
 
50
 
75
2017 grants
  
35
 
50
 
75
ROIC Awards:
 
Threshold Performance
(35% of Shares)
 
Target Performance
(100% of Shares)
 
Maximum Performance
(150% of Shares)
2019 grants
 
4.7
%
 
5.8
%
 
7.0
%
2018 grants
 
15.5
%
 
18.0
%
 
19.5
%
2017 grants
 
15.0
%
 
17.5
%
 
20.0
%
Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods
The following table presents the number of awards granted and the grant date fair value of each award in the periods presented.
 
 
TSR Awards
 
ROIC Awards
Award Year
 
Number of
Shares
(in thousands)
 
Grant Date
Fair Value
(per share)
 
Number of
Shares
(in thousands)
 
Grant Date
Fair Value
(per share)
2019
 
136

 
$
9.28

 
174

 
$
7.93

2018
 
55

 
$
24.65

 
55

 
$
24.55

2017
 
46

 
$
29.84

 
53

 
$
24.20
Summary of Status of Unvested PSU Awards
The following table summarizes changes in unvested PSUs during the year ended December 31, 2019, and changes during the year then ended.
 
 
Nonvested TSR Awards
 
Nonvested ROIC Awards
 
 
Number of
Shares
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Number of
Shares
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
Nonvested at January 1, 2019
 
94

 
$
26.84

 
100

 
$
24.39

Granted
 
136

 
9.28

 
174

 
7.93

Forfeited
 
(151
)
 
16.54

 
(179
)
 
14.21

Expired
 
(14
)
 
29.84

 
(16
)
 
24.20

Nonvested at December 31, 2019
 
65

 
$
13.27

 
79

 
$
11.50