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Employee Share Plans | 9 Months Ended
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Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Employee Share Plans | Note 12. Employee Share Plans On May 9, 2019, the CBIZ shareholders approved CBIZ, Inc. 2019 Stock Omnibus Incentive Plan, which amended and restated the CBIZ, Inc. 2014 Stock Incentive Plan (as amended and restated, the “2019 Plan”). The 2019 Plan expires in 2029 and provides for the grant of restricted stock awards, stock options and performance awards. The terms and vesting schedules for the share-based awards vary by type and date of grant. A maximum of 9.6 million stock-based compensation awards may be granted. Shares subject to award under the 2019 Plan may be either authorized but unissued shares of our common stock or treasury shares. Compensation expense for stock-based awards recognized during the three and nine months ended September 30, 2019 and 2018 was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Stock options |  | $ | 425 |  |  | $ | 531 |  |  | $ | 1,423 |  |  | $ | 2,078 |
Restricted stock awards |  |  | 1,146 |  |  |  | 978 |  |  |  | 3,228 |  |  |  | 3,280 |
Performance share units |  |  | 288 |  |  |  | — |  |  |  | 607 |  |  |  | — |
Total stock-based compensation expense |  | $ | 1,859 |  |  | $ | 1,509 |  |  | $ | 5,258 |  |  | $ | 5,358 |
Stock Options and Restricted Stock Awards – The following table presents our stock options and restricted stock award activity during the nine months ended September 30, 2019 (in thousands, except per share data):
|  | Stock Options |  |  | Restricted Stock Awards |
|  | Number of Options |  |  | Weighted Average Exercise Price Per Share |  |  | Number of Shares |  |  | Weighted Average Grant-Date Fair Value (1) |
Outstanding at beginning of year |  |  | 3,622 |  |  | $ | 11.97 |  |  |  | 632 |  |  | $ | 15.35 |
Granted |  |  | — |  |  | $ | — |  |  |  | 227 |  |  | $ | 19.78 |
Exercised or released |  |  | (558 | ) |  | $ | 8.70 |  |  |  | (282 | ) |  | $ | 13.76 |
Expired or canceled |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Outstanding at September 30, 2019 |  |  | 3,064 |  |  | $ | 12.57 |  |  |  | 577 |  |  | $ | 17.88 |
Exercisable at September 30, 2019 |  |  | 2,107 |  |  | $ | 10.71 |  |  |  |  |  |  |  |  |
| (1) | Represents weighted average market value of the shares; awards are granted at no cost to the recipients.
Performance Share Units (“PSUs”) – PSUs are earned based on our financial performance over a contractual term of three years and the associated expense is recognized over that period based on the fair value of the award. A three-year cliff vesting schedule of the PSUs is dependent upon the Company’s performance relative to pre-established goals based on earnings per share target (weighted 70%) and total growth in revenue (weighted 30%). The fair value of PSUs is calculated using the market value of a share of our common stock on the date of grant. For performance achieved above specified levels, the recipient may earn additional shares of stock, not to exceed 200% of the number of PSUs initially granted. The following table presents our PSU award activity during the nine months ended September 30, 2019 (in thousands, except per share data):
|  | PSUs |  |  | Grant-Date Fair Value Per Unit |
Outstanding at beginning of year |  |  | — |  |  | $ | — |
Granted |  |  | 173 |  |  | $ | 19.82 |
Vested |  |  | — |  |  | $ | — |
Adjustments for performance results |  |  | — |  |  | $ | — |
Expired or cancelled |  |  | — |  |  | $ | — |
Outstanding at September 30, 2019 |  |  | 173 |  |  | $ | 19.82 |

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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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