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Stock Based Compensation Plan | 6 Months Ended
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Jun. 30, 2019
Stock Based Compensation Plan [Abstract] |
Stock Based Compensation Plan | NOTE K – Stock Based Compensation Plan As more fully discussed in Note 12 of the notes to the consolidated financial statements in our 2018 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 six months ended June 30, 2019:
|  | Service-Based Restricted Stock Awards |  |  | Performance-Based Restricted Stock Awards |  |  | Stock-Settled Appreciation Rights |
|  | Shares or Units |  |  | Weighted-Average Award Price |  |  | Shares or Units |  |  | Weighted-Average Award Price |  |  | Rights |  |  | Weighted-Average Award Price |
Outstanding at December 31, 2018 |  |  | 249,142 |  |  | $ | 22.05 |  |  |  | 209,754 |  |  | $ | 21.56 |  |  |  | 57,000 |  |  | $ | 18.14 |
Granted/Issued |  |  | 133,770 |  |  |  | 20.30 |  |  |  | 111,780 |  |  |  | 20.33 |  |  |  | — |  |  |  | — |
Awards vested or rights exercised(1) |  |  | (124,544 | ) |  |  | 22.32 |  |  |  | (57,351 | ) |  |  | 18.93 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (11,368 | ) |  |  | 21.37 |  |  |  | (51,116 | ) |  |  | 22.45 |  |  |  | — |  |  |  | — |
Outstanding at June 30, 2019 |  |  | 247,000 |  |  | $ | 21.00 |  |  |  | 213,067 |  |  | $ | 21.41 |  |  |  | 57,000 |  |  | $ | 18.14 |
Exercisable at June 30, 2019 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 57,000 |  |  | $ | 18.14 |
Awards expected to vest |  |  | 247,000 |  |  | $ | 21.00 |  |  |  | 159,551 |  |  | $ | 21.76 |  |  |  | — |  |  |  | — |
(1) | Includes shares repurchased from employees for employee’s tax liability.
The aggregate intrinsic value of outstanding restricted stock awards was $4,206,000 at June 30, 2019. The restrictions on the service-based awards generally lapse or vest annually, primarily over four-year periods. The total fair value of performance-based restricted stock awards that vested during the six months ended June 30, 2019 was approximately $1,389,000. The aggregate intrinsic value of outstanding performance awards at June 30, 2019 expected to vest was $2,717,000. The performance awards are based on one-year performance periods but cliff vest in approximately three years from grant date. The fair value for stock-settled appreciation rights were estimated at the date of grant using a BlackScholes pricing model. The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at June 30, 2019 was approximately $36,000. The compensation for all awards is being charged to selling, general and administrative expense over the respective grants’ vesting periods, primarily on a straight-line basis, and for the six months ended June 30, 2019 and 2018 was approximately $1,951,000 and $2,557,000, respectively. Forfeitures are recognized as they occur. As of June 30, 2019, the total compensation cost related to unvested equity awards was approximately $5,783,000 and is expected to be recognized over a weighted-average period of 2.3 years.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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