XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Stock Based Compensation Plan | 9 Months Ended
--- | ---
Sep. 30, 2020
Stock Based Compensation Plan [Abstract] |
Stock Based Compensation Plan | NOTE J – Stock Based Compensation Plan As more fully discussed in Note 14 of the notes to the consolidated financial statements in our 2019 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, 2020:
|  | 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, 2019 |  |  | 234,810 |  |  |  | 20.93 |  |  |  | 214,809 |  |  |  | 21.38 |  |  |  | 7,500 |  |  |  | 18.14 |
Granted/Issued |  |  | 145,375 |  |  |  | 20.42 |  |  |  | 120,727 |  |  |  | 20.42 |  |  |  | — |  |  |  |  |
Awards vested or rights exercised(1) |  |  | (122,114 | ) |  |  | 20.62 |  |  |  | (44,875 | ) |  |  | 22.12 |  |  |  | (7,500 | ) |  |  | 18.14 |
Forfeited |  |  | (7,670 | ) |  |  | 20.40 |  |  |  | (76,766 | ) |  |  | 20.29 |  |  |  | — |  |  |  | — |
Outstanding at September 30, 2020 |  |  | 250,401 |  |  |  | 20.80 |  |  |  | 213,895 |  |  |  | 21.08 |  |  |  | — |  |  |  | — |
Restricted Units expected to vest |  |  | 250,401 |  |  |  | 20.80 |  |  |  | 288,303 |  |  |  | 20.90 |  |  |  | — |  |  |  | — |
(1) | Includes shares repurchased from employees for employee’s tax liability.
The aggregate intrinsic value of outstanding service-based restricted stock awards was $5.2 million at September 30, 2020. The restrictions on the service-based awards generally lapse or vest annually, primarily over four-year and three-year periods. The total fair value of performance-based restricted stock awards that vested during the nine months ended September 30, 2020 was $1.0 million. The aggregate intrinsic value of outstanding performance awards at September 30, 2020 expected to vest was $6.0 million. 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 Black Scholes pricing model. The total intrinsic value of stock-settled appreciation rights exercised during the nine months ended September 30, 2020 was $18,000. The compensation for all awards is charged to selling, general and administrative expense over the respective grants’ vesting periods, primarily on a straight-line basis. The amount charged was approximately $3.4 million and $2.7 million for the nine months ended September 30, 2020 and 2019, respectively. Forfeitures are recognized as they occur. As of September 30, 2020, the total compensation cost related to unvested equity awards was approximately $7.2 million and is expected to be recognized over a weighted-average period of 2.2 years.

X
- 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
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration