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Stock-Based Awards (Tables)
 9 Months Ended
Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period
A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:
 
September 30, 2019
 
  
Unrecognized Stock-
Based
Compensation
 
  
Average
Remaining
Vesting Period (Years)
 
Employees and directors
   $
16,134
     
1.89
 
Summary of Stock Options, Restricted Stock, Restricted Stock Unit and Performance Stock Unit Activity
A summary of stock-based compensation award activity during the three months ended September 30, 2019 is as follows:
 
Stock
 
  
 
  
 
  
 
  
Options
 
  
RSAs
 
  
RSUs
 
  
PRSUs
 
Balance at July 1, 2019
   
550,537
     
3,231,253
     
40,436
     
270,872
(1)
 
Granted
   
—
     
—
     
—
     
—
 
Exercised/vested
   
(25,000
 )    
(37,607
 )    
(1,158
 )    
—
 
Forfeitures
   
(1
 )    
(301,826
 )    
—
     
(38,262
 )
                                 
Balance at September 30, 2019
   
525,536
     
2,891,820
     
39,278
     
232,610
(1)
 
                                 
 
(1) Represents the target number of PRSUs granted and outstanding. The number of PRSUs that ultimately vest ranges from 0% to 200% of this amount. A Monte Carlo simulation was used to value these awards using the following assumptions for the Company and the peer group: (i) beginning
90-day
average stock prices; (ii) valuation date stock prices; (iii) historical stock price volatilities ranging from 22% to 42% (average 28%); (iv) correlation coefficients based upon the price data used to calculate the historical volatilities; (v) a risk free interest rate of 2.56%; and (vi) an expected dividend yield of 0%.