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Shareholder's Equity and Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2020
Equity [Abstract] |
Shareholder's Equity and Stock-Based Compensation | (9) Shareholder’s Equity and Stock-Based Compensation The Company granted 319,397 awards to employees under the 2016 Incentive Award Plan during the six months ended June 30, 2020, consisting of 20,724 restricted stock awards (“RSA”) and 96,768 restricted stock units (“RSU”) vesting after four years, 2,500 RSU vesting after three years, and 199,405 fully-vested stock option awards. The Company granted an additional 23,148 stock option awards, vesting after one year, to non-employee directors under the 2016 Incentive Award Plan, during the six months ended June 30, 2020. The Company granted 510,986 awards to employees under the 2016 Incentive Award Plan during the six months ended June 30, 2019, consisting of 5,000 stock option awards and 167,310 RSU vesting after four years, 5,000 stock option awards vesting after one year, 311,676 fully-vested stock option awards and 22,000 stock option awards with vesting in twelve equal monthly installments beginning on March 31, 2019. The Company granted an additional 38,832 stock option awards, vesting after one year, to non-employee directors under the 2016 Incentive Award Plan, during the six months ended June 30, 2019. Award Activity The following table sets forth the Company’s stock option activity:
|  | Six Months Ended June 30, 2020 |  |
|  |  |  |  |  | Weighted Average |  |
|  | Stock Options |  |  | Exercise Price |  |
Outstanding - beginning of period |  |  | 3,030,071 |  |  | $ | 34.50 |  |
Granted |  |  | 222,553 |  |  | $ | 105.48 |  |
Exercised |  |  | (114,967 | ) |  | $ | 17.19 |  |
Forfeited/Expired |  |  | (52,580 | ) |  | $ | 36.45 |  |
Outstanding - end of period |  |  | 3,085,077 |  |  | $ | 40.23 |  |
Exercisable - end of period |  |  | 1,570,049 |  |  | $ | 49.40 |  |
The following table sets forth the Company’s RSA/RSU activity:
|  | Six Months Ended |  |
|  | June 30, 2020 |  |
|  | Shares/Units |  |
Outstanding and unvested - beginning of period |  |  | 569,770 |  |
Granted |  |  | 119,992 |  |
Vested |  |  | - |  |
Forfeited |  |  | (42,490 | ) |
Outstanding and unvested - end of period |  |  | 647,272 |  |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Total direct costs |  | $ | 1,774 |  |  | $ | 1,718 |  |  | $ | 3,780 |  |  | $ | 3,278 |
Selling, general and administrative |  |  | 842 |  |  |  | 3,667 |  |  |  | 4,281 |  |  |  | 5,290 |
Total stock-based compensation expense |  | $ | 2,616 |  |  | $ | 5,385 |  |  | $ | 8,061 |  |  | $ | 8,568 |

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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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