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Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Summary of Stock Option Activity

A summary of PSP activity for the years ended December 31, 2019, 2018 and 2017 is as follows:

 

 

 

Weighted-

average grant

date fair value

 

 

Granted

shares

 

 

Awarded

shares

 

 

Shares not

yet awarded

 

Outstanding at January 1, 2017

 

$

5.11

 

 

 

2,006,550

 

 

 

2,006,550

 

 

 

—

 

Granted

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Awarded

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vested

 

$

4.81

 

 

 

(277,602

)

 

 

(277,602

)

 

 

—

 

Forfeited

 

$

5.24

 

 

 

(34,472

)

 

 

(34,472

)

 

 

—

 

Outstanding at December 31, 2017

 

$

5.16

 

 

 

1,694,476

 

 

 

1,694,476

 

 

 

—

 

Granted

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Awarded

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vested

 

$

5.53

 

 

 

(453,860

)

 

 

(453,860

)

 

 

—

 

Forfeited

 

$

4.92

 

 

 

(44,524

)

 

 

(44,524

)

 

 

—

 

Outstanding at December 31, 2018

 

$

5.03

 

 

 

1,196,092

 

 

 

1,196,092

 

 

 

—

 

Granted

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Awarded

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vested

 

$

5.29

 

 

 

(115,040

)

 

 

(115,040

)

 

 

—

 

Forfeited

 

$

4.74

 

 

 

(29,760

)

 

 

(29,760

)

 

 

—

 

Outstanding at December 31, 2019

 

$

5.00

 

 

 

1,051,292

 

 

 

1,051,292

 

 

 

—

 

 

A summary of 2010 SIP and 2019 SIP activity for the years ended December 31, 2019, 2018 and 2017 is as follows:

 

 

 

Weighted-

average grant

date fair value

 

 

Granted

shares

 

 

Awarded

shares

 

 

Shares not

yet awarded

 

 

Outstanding at January 1, 2017

 

$

14.98

 

 

 

12,256,112

 

 

 

4,802,588

 

 

 

7,453,524

 

 

Granted

 

$

20.82

 

 

 

1,392,912

 

 

 

241,334

 

 

 

1,151,578

 

(1)

Awarded

 

$

15.72

 

 

 

—

 

 

 

326,808

 

 

 

(326,808

)

 

Vested

 

$

12.61

 

 

 

(484,914

)

 

 

(484,914

)

 

 

—

 

 

Forfeited

 

$

14.89

 

 

 

(342,120

)

 

 

(76,212

)

 

 

(265,908

)

 

Outstanding at December 31, 2017

 

$

15.58

 

 

 

12,821,990

 

 

 

4,809,604

 

 

 

8,012,386

 

 

Granted

 

$

22.87

 

 

 

1,577,721

 

 

 

454,313

 

 

 

1,123,408

 

(2)

Awarded

 

$

15.89

 

 

 

—

 

 

 

2,489,905

 

 

 

(2,489,905

)

 

Vested

 

$

14.09

 

 

 

(933,916

)

 

 

(933,916

)

 

 

—

 

 

Forfeited

 

$

16.37

 

 

 

(2,363,420

)

 

 

(224,587

)

 

 

(2,138,833

)

 

Outstanding at December 31, 2018

 

$

16.69

 

 

 

11,102,375

 

 

 

6,595,319

 

 

 

4,507,056

 

 

Granted

 

$

28.53

 

 

 

1,812,047

 

 

 

797,778

 

 

 

1,014,269

 

(3)

Awarded

 

$

17.26

 

 

 

299,339

 

 

 

1,954,983

 

 

 

(1,655,644

)

 

Vested

 

$

14.29

 

 

 

(1,068,211

)

 

 

(1,068,211

)

 

 

—

 

 

Forfeited

 

$

19.09

 

 

 

(503,632

)

 

 

(209,293

)

 

 

(294,339

)

 

Outstanding at December 31, 2019

 

$

18.10

 

 

 

11,641,918

 

 

 

8,070,576

 

 

 

3,571,342

 

 

 

 

 

(1)

Of the 1,151,578 shares of performance-based restricted stock granted in 2017, the payout for 641,652 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.

 

(2)

Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.

(3)

Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.
Summary of Non-Cash Stock-Based Compensation Expense

The non-cash stock-based compensation expense for the years ended December 31 is as follows:

 

(in thousands)

 

2019

 

 

2018

 

 

2017

 

Stock incentive plans

 

$

39,626

 

 

$

28,027

 

 

$

24,899

 

Employee stock purchase plan

 

 

6,504

 

 

 

4,744

 

 

 

4,025

 

Performance stock plan

 

 

864

 

 

 

748

 

 

 

1,707

 

Total

 

$

46,994

 

 

$

33,519

 

 

$

30,631

 
2010 Stock Incentive Plan  
Schedule of Performance Stock Plan and 2010 Stock Incentive Plan

The following table sets forth information as of December 31, 2019, 2018 and 2017, with respect to the number of time-based restricted shares granted and awarded, the number of performance-based restricted shares granted, and the number of performance-based restricted shares awarded under our Performance Stock Plan and 2010 Stock Incentive Plan:

 

Year

 

Time-based restricted

stock granted and

awarded

 

 

Performance-based

restricted

stock granted

 

 

Performance-based

restricted

stock awarded

 

2019

 

 

797,778

 

 

 

1,014,269

 

(1)

 

1,954,983

 

2018

 

 

454,313

 

 

 

1,123,408

 

(2)

 

2,489,905

 

2017

 

 

241,334

 

 

 

1,151,578

 

(3)

 

326,808

 

(1)

Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.

(2)

Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.

 

(3)

Of the 1,151,578 shares of performance-based restricted stock granted in 2017, the payout for 641,652 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.