Shared-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Stock options	$	132	$	371	$	453	$	732
Restricted stock	963		446		2,791		1,407
Performance share units	340		334		898		991
Change in estimate of share-based award vesting	(577)		(1,275)		(577)		(1,275)
Share-based compensation expense	$	858	$	(124)	$	3,565	$	1,855

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.

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 nine months ended September 30, 2020.

	Number of Options (in thousands)	Weighted- Average Exercise Price (per share)		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2020	775	$	13.24
Granted	159	9.44
Forfeited or expired	(60)	15.00
Outstanding at September 30, 2020	874	$	12.43	5.5 years	$	—	(1)
Exercisable at September 30, 2020	589	$	13.85	3.8 years	$	—	(1)

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(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 September 30, 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 September 30, 2020, and changes during the nine 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	(145)	8.61
Forfeited	(18)	9.32
Unvested at September 30, 2020	519	$	9.28

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 September 30, 2020, and changes during the nine 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 September 30, 2020	185	$	11.55	215	$	10.04