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Shareholder's Equity and Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2020
Equity [Abstract] |
Shareholder's Equity and Stock-Based Compensation | (9) Shareholder’s Equity and Stock-Based Compensation The Company granted 312,897 awards to employees under the 2016 Incentive Award Plan during the three months ended March 31, 2020, consisting of 20,724 restricted stock awards (“RSA”) and 92,768 restricted stock units (“RSU”) vesting after four years, and 199,405 fully-vested stock option awards. The Company granted 268,617 awards to employees under the 2016 Incentive Award Plan during the three months ended March 31, 2019, consisting of 5,000 stock option awards and 164,200 RSU vesting after four years, 77,417 fully-vested stock option awards and 22,000 stock option awards with vesting in twelve equal monthly installments beginning on March 31, 2019. Award Activity The following table sets forth the Company’s stock option activity:
|  | Three Months Ended March 31, 2020 |  |
|  |  |  |  |  | Weighted Average |  |
|  | Stock Options |  |  | Exercise Price |  |
Outstanding - beginning of period |  |  | 3,030,071 |  |  | $ | 34.50 |  |
Granted |  |  | 199,405 |  |  | $ | 107.93 |  |
Exercised |  |  | (80,832 | ) |  | $ | 16.61 |  |
Forfeited/Expired |  |  | (38,100 | ) |  | $ | 38.41 |  |
Outstanding - end of period |  |  | 3,110,544 |  |  | $ | 39.63 |  |
Exercisable - end of period |  |  | 1,563,803 |  |  | $ | 48.54 |  |
The following table sets forth the Company’s RSA/RSU activity:
|  | Three Months Ended |  |
|  | March 31, 2020 |  |
|  | Shares/Units |  |
Outstanding and unvested - beginning of period |  |  | 569,770 |  |
Granted |  |  | 113,492 |  |
Vested |  |  | - |  |
Forfeited |  |  | (5,000 | ) |
Outstanding and unvested - end of period |  |  | 678,262 |  |
Cumulative vested shares - end of period |  |  | 1,913,916 |  |
Stock-based compensation expense recognized in the condensed consolidated statements of operations related to all outstanding stock based compensation awards is summarized below (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Total direct costs |  | $ | 2,006 |  |  | $ | 1,560 |
Selling, general and administrative |  |  | 3,439 |  |  |  | 1,623 |
Total stock-based compensation expense |  | $ | 5,445 |  |  | $ | 3,183 |

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: 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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