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Shared-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
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. 
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
Stock options
 
$
181

 
$
192

Restricted stock
 
892

 
459

Performance share units
 
223

 
222

Share-based compensation expense
 
$
1,296

 
$
873
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 2020.
 
2020
Expected term
6 years

Risk free interest rate
1.42
%
Dividend yield
—
%
Expected volatility
52.80
%
Reconciliation of Option Activity
The following table presents stock option activity for the three months ended March 31, 2020.
 
 
Number of Options
(in thousands)
 
Weighted-
Average
Exercise
Price
(per share)
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
 
 
Outstanding at January 1, 2020
 
775

 
$
13.24

 
 
 
 
 
 
Granted
 
159

 
9.44

 
 
 
 
 
 
Exercised
 
—

 
—

 
 
 
$
—

 
 
Forfeited or expired
 
(37
)
 
15.10

 

 

 
 
Outstanding at March 31, 2020
 
897

 
$
12.49

 
6.0
 
$
—

 
(1) 
Exercisable at March 31, 2020
 
600

 
$
13.93

 
4.4
 
$
—

 
(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 March 31, 2020, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity
The following table presents the status of unvested restricted stock awards as of March 31, 2020, and changes during the three months then ended.
 
 
Nonvested
Restricted
Shares
(in thousands)
 
Weighted
Average
Grant-Date
Fair Value
(per share)
Unvested at January 1, 2020
 
222

 
$
9.33

Granted
 
460

 
9.35

Vested
 
(110
)
 
9.28

Forfeited
 
(9
)
 
9.44

Unvested at March 31, 2020
 
563

 
$
9.17
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 2020.
TSR Awards:
 
Threshold Performance
(50% of Shares)
 
Target Performance
(100% of Shares)
 
Maximum Performance
(150% of Shares)
2020 grants
 
35th Percentile
 
50th Percentile
 
75th Percentile
 
 
 
 
 
 
 
ROIC Awards:
 
Threshold Performance
(35% of Shares)
 
Target Performance
(100% of Shares)
 
Maximum Performance
(150% of Shares)
2020 grants
 
4.9
%
 
5.1
%
 
5.6
%
Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods
The following table presents the number of PSUs granted and the grant date fair value in the period presented.
 
 
TSR Awards
 
ROIC Awards
Award Year
 
Shares
(in thousands)
 
Grant Date
Fair Value
(per share)
 
Shares
(in thousands)
 
Grant Date Fair
Value (per share)
2020
 
139

 
$
10.88

 
157

 
$
9.44
Summary of Status of Unvested PSU Awards
The following table presents the status of unvested PSUs as of March 31, 2020, and changes during the three months then ended.
 
 
Nonvested TSR Awards
 
Nonvested ROIC Awards
 
 
Shares
(in thousands)
 
Weighted
Average
Grant-Date
Fair Value
(per share)
 
Shares
(in thousands)
 
Weighted
 Average
Grant-Date
Fair Value
(per share)
Nonvested at January 1, 2020
 
65

 
$
13.27

 
79

 
$
11.50

Granted
 
139

 
10.88

 
157

 
9.44

Forfeited
 
(19
)
 
11.43

 
(21
)
 
12.88

Nonvested at March 31, 2020
 
185

 
$
10.53

 
215

 
$
11.04