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Stock Based Compensation | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock Based Compensation | Stock Based Compensation The Company applies the fair value recognition provisions of ASC Topic 718: Stock Compensation. Stock-based compensation expense, net of forfeitures of $34.0 thousand and $52.0 thousand for March 31, 2021 and March 31, 2020, respectively, was recorded to the following line items in the consolidated statements of operations for the three months ended March 31:
| 2021 |  | 2020
Cost of Sales - Contracts | $ | 67 |  |  | $ | 94 |
Selling, general and administrative | 1,253 |  |  | 995 |
Total stock-based compensation expense | $ | 1,320 |  |  | $ | 1,089 |
At March 31, 2021, the aggregate unrecognized compensation expense related to unvested equity awards was $9.1 million, which is expected to be recognized as compensation expense in fiscal years 2021 through 2024. A summary of stock option activity for the three months ended March 31, 2021 is below:
(in thousands, except for exercise price) | Options Outstanding |  | Weighted Average Exercise Price
Outstanding at January 1, 2021 | 957 |  |  | $ | 14.29 |
Exercised | (34) |  |  | 12.29 |
Canceled/forfeited | (29) |  |  | 18.78 |
Outstanding at March 31, 2021 | 894 |  |  | $ | 14.22 |
A summary of unvested restricted stock activity for the three months ended March 31, 2021 is below:
(in thousands, except for award value) | Restricted Stock Awards |  | Weighted Average Award Value
Outstanding at January 1, 2021 | 61 |  |  | $ | 25.62 |
Granted | 2 |  |  | 22.36 |
Vested | (33) |  |  | 24.91 |
Forfeited and cancelled | (1) |  |  | 20.94 |
Outstanding at March 31, 2021 | 29 |  |  | $ | 26.25 |
A summary of unvested restricted stock units (“RSU”) activity for the three months ended March 31, 2021 is below:
(in thousands, except for award value) | RSU Awards |  | Weighted Average Award Value
Outstanding at January 1, 2021 | 427 |  |  | $ | 15.46 |
Granted | 73 |  |  | 76.13 |
Vested | (86) |  |  | 16.40 |
Outstanding at March 31, 2021 | 414 |  |  | $ | 26.22 |

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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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