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Share-based Compensation | 6 Months Ended
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Jun. 30, 2019
Share-based Compensation |
Share-based Compensation | Note 9: Share-based Compensation ​ The Company currently grants share-based compensation in the form of restricted stock units (“RSUs”) and deferred stock units (“DSUs”). The Company grants RSUs to members of management periodically throughout the year. Each RSU is equivalent to one share of the Company’s common stock. These units have requisite service periods ranging from one to five years. The Company annually grants share-based awards in the form of DSUs, which are RSUs with a deferred settlement date, to its board of directors and advisory directors. Each DSU is equivalent to one share of the Company’s common stock. The DSUs vest over a twelve-month period following the grant date or on the date of the next Annual Meeting of Stockholders, whichever is earlier. These units generally are subject to the same terms as RSUs under the Company’s 2010 Equity Plan or the First Community 2016 Equity Plan, except that, following vesting, settlement occurs within 30 days following the earlier of separation from the board or a change in control of the Company. Subsequent to vesting and prior to delivery, these units will continue to earn dividend equivalents. The Company also has outstanding stock options granted prior to 2011 and stock options assumed from acquisitions. ​ A description of the 2010 Equity Incentive Plan, which was amended in 2015, can be found in the Company’s Proxy Statement for the 2015 Annual Meeting of Stockholders. A description of the First Community 2016 Equity Incentive Plan can be found in the Proxy Statement of First Community Financial Partners, Inc. for the 2016 Annual Meeting of Stockholders. ​ Stock Option Plan ​ A summary of the status of and changes in the Company's stock option awards for the six months ended June 30, 2019 follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Weighted-
​ | ​ | ​ | ​ | Average | ​ | Average
​ | ​ | ​ | ​ | Exercise | ​ | Remaining Contractual
​ |  | Shares |  | Price |  | Term
Outstanding at beginning of period |  | 87,600 |  | $ | 20.58 | ​ | ​
Exercised |  | (21,799) | ​ |  | 17.71 | ​ | ​
Forfeited |  | (2,271) | ​ |  | 23.53 | ​ | ​
Expired |  | (5,176) | ​ |  | 18.13 | ​ | ​
Outstanding at end of period |  | 58,354 |  | $ | 21.76 |  | 6.23
Exercisable at end of period |  | 42,472 |  | $ | 21.09 |  | 5.80
​ The Company recorded an insignificant amount and $0.1 million in stock option compensation expense for the three and six months ended June 30, 2019, related to the converted options from First Community. The Company recorded an insignificant amount and $0.1 million in stock option compensation expense for the three and six months ended June 30, 2018, respectively. As of June 30, 2019, the Company had $0.1 million of unrecognized stock option expense. This cost is expected to be recognized in 2019. ​ Restricted Stock Unit Plan ​ A summary of the changes in the Company’s stock unit awards for the six months ended June 30, 2019, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Director | ​ | Weighted-
​ | ​ | Restricted | ​ | Average | ​ | Deferred | ​ | Average
​ | ​ | Stock | ​ | Grant Date | ​ | Stock | ​ | Grant Date
​ |  | Units |  | Fair Value |  | Units |  | Fair Value
Non-vested at beginning of period |  | 690,495 |  | $ | 26.14 |  | 20,449 |  | $ | 27.93
Granted |  | — | ​ |  | — |  | — | ​ |  | —
Dividend equivalents earned |  | 11,359 | ​ |  | 25.56 |  | 1,269 | ​ |  | 25.56
Vested |  | (104,760) | ​ |  | 18.40 |  | (20,195) | ​ |  | 31.29
Forfeited |  | (4,712) | ​ |  | 30.47 |  | (1,523) | ​ |  | 31.62
Non-vested at end of period |  | 592,382 |  | $ | 27.46 |  | — |  | $ | —
Outstanding at end of period |  | 592,382 |  | $ | 27.46 |  | 68,153 |  | $ | 22.27
​ Recipients earn quarterly dividend equivalents on their respective units which entitle the recipients to additional units. Therefore, dividends earned each quarter compound based upon the updated unit balances. Upon vesting/delivery, shares are expected (though not required) to be issued from treasury. ​ The Company recognized $1.0 million and $0.8 million of compensation expense related to both non-vested RSUs and DSUs for the three months ended June 30, 2019 and 2018, respectively. The Company recognized $1.9 million and $1.6 million of compensation expense related to both non-vested RSUs and DSUs for the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019, there was $8.8 million of total unrecognized compensation cost related to these non-vested stock awards. This cost is expected to be recognized over a period of 3.3 years. ​ As of June 30, 2019, 766,824 shares remain available for issuance pursuant to the Company’s 2010 Equity Incentive Plan, 54,841 shares remain available for issuance pursuant to the Company’s Employee Stock Purchase Plan and 309,326 shares remain available for issuance pursuant to the First Community 2016 Equity Incentive Plan.

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