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Stock Based Compensation Plan
 9 Months Ended
Sep. 30, 2017
Stock Based Compensation Plan [Abstract]  
Stock Based Compensation Plan
NOTE I – Stock Based Compensation Plan
As more fully discussed in Note 12 of the notes to the consolidated financial statements in our 2016 Annual Report on Form 10-K, we have awards outstanding for Common Stock under stock-based employee compensation plans.
The following table summarizes our award activity during the nine months ended September 30, 2017:
  
Restricted Stock Awards
  
Stock-Settled
Appreciation Rights
 
 
 
Shares or Units
  
Weighted-Average
Award Price
  
Rights
  
Weighted-Average
Award Price
 
Outstanding at December 31, 2016
  
397,320
  
$
21.64
   
100,875
  
$
18.14
 
Granted
  
199,382
   
22.00
   
—
   
—
 
Restrictions lapsed or exercised
  
(157,406
)
  
22.02
   
(43,875
)
  
18.14
 
Forfeited
  
(4,507
)
  
19.79
   
—
   
—
 
Outstanding at September 30, 2017
  
434,789
  
$
21.69
   
57,000
  
$
18.14
 
Exercisable at September 30, 2017
  
—
   
—
   
57,000
  
$
18.14
 
Awards expected to vest
  
420,491
  
$
21.70
   
—
   
—
 

Grants of equity awards are made to certain officers and key employees under stockholder approved long-term incentive plans. The restrictions on most of the awards generally lapse annually, primarily over four year periods. During 2017, the Company granted approximately 63,000 awards for which the shares ultimately issued will be based upon the achievement of various performance measures. The restricted units earned under most of these awards vest after three years. The remaining grants have time-based vesting of one or four years. The compensation is being charged to selling, general and administrative expense over the respective grants' vesting periods, primarily on a straight-line basis.  Stock based compensation expense was approximately $3.0 million for the nine months ended September 30, 2017 and September 30, 2016. The aggregate intrinsic value of outstanding restricted common stock grants was $11.4 million at September 30, 2017. The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at September 30, 2017 was approximately $0.5 million.

As of September 30, 2017, the remaining unamortized compensation cost related to unvested equity awards was approximately $5.3 million and is expected to be recognized over a weighted-average period of 2.4 years.