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Stock-Based Incentive Plans

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Incentive Plans

Note 12. Stock-Based Incentive Plans

Stock-based incentive plans compensation expense is as follows (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Service-based restricted stock units (“RSUs”)						$	4,410					$	3,583					$	13,139					$	10,428
Service-based stock appreciation rights (“SARs”)						3,211						2,896						9,185						7,804
Market performance-based restricted stock units						814						757						2,745						2,146
Operating performance-based restricted stock units						(962)						983						882						2,752
Employee share purchase plan						337						312						894						997
Total stock-based compensation expense						$	7,810					$	8,531					$	26,845					$	24,127

During the nine months ended September 30, 2020, we issued stock-based compensatory awards with terms approved by the Compensation Committee of our Board of Directors. The awards with service conditions generally vest ratably over four years, subject to forfeiture unless service conditions are met. Market performance-based awards cliff vest after three years subject to the rank of our total shareholder return for the three-year period ending December 31, 2022 relative to the total shareholder returns for a peer group of companies. Operating performance-based awards cliff vest after three years subject to the achievement of certain thresholds of cumulative adjusted free cash flow for the three year period ending December 31, 2022. Compensation expense related to awards granted during 2020 for the three and nine months ended September 30, 2020 was $3.3 million and $6.6 million, respectively.

Stock-based compensation agreements issued during the nine months ended September 30, 2020, representing potential shares and their weighted average grant date fair values by type follows (shares in thousands, fair value in dollars):

						Nine Months Ended September 30, 2020
						Shares						Weighted Average Grant Date Fair Value
Service-based SARs						1,133						$	15.73
Service-based RSUs						599						$	44.42
Market performance-based RSUs						93						$	39.83
Operating performance-based RSUs						93						$	43.57

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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

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