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Equity-Based Compensation | 6 Months Ended
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Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Equity-Based Compensation | -Based Compensation At June 30, 2018, we had five active stock-based compensation plans: the Nonemployee Directors’ Stock Retirement Plan (“Directors’ Plan”), the 2004 Omnibus Long-Term Incentive Plan (“2004 Plan”), the 2009 Omnibus Equity and Performance Incentive Plan (“2009 Plan”), the 2014 Performance & Incentive Plan (“2014 Plan”), and the 2018 Equity and Incentive Compensation Plan ("2018 Plan"). Future grants can only be made under the 2018 Plan. The following table summarizes the compensation expense included in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings related to stock-based compensation plans:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30, |  | June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Service-Based RSUs | $ | 563 |  |  | $ | 465 |  |  | $ | 1,018 |  |  | $ | 1,015 |
Performance-Based RSUs | 643 |  |  | 297 |  |  | 1,153 |  |  | 680 |
Cash-settled RSUs | 57 |  |  | 46 |  |  | 15 |  |  | (8 | )
Total | $ | 1,263 |  |  | $ | 808 |  |  | $ | 2,186 |  |  | $ | 1,687 |
Income tax benefit | 285 |  |  | 304 |  |  | 494 |  |  | 634 |
Net | $ | 978 |  |  | $ | 504 |  |  | $ | 1,692 |  |  | $ | 1,053 |
The following table summarizes the unrecognized compensation expense related to non-vested RSUs by type and the weighted-average period in which the expense is to be recognized:
| Unrecognized |  |
| Compensation |  | Weighted-
| Expense at |  | Average
| June 30, 2018 |  | Period
Service-Based RSUs | $ | 1,973 |  |  | 1.94
Performance-Based RSUs | 3,326 |  |  | 1.64
Total | $ | 5,299 |  |  | 1.75
We recognize expense on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. The following table summarizes the status of these plans as of June 30, 2018:
| 2018 Plan |  | 2014 Plan |  | 2009 Plan |  | 2004 Plan |  | Directors' Plan
Awards originally available | 2,500,000 |  |  | 1,500,000 |  |  | 3,400,000 |  |  | 6,500,000 |  |  | N/A |
Performance-based options outstanding | — |  |  | 285,000 |  |  | — |  |  | — |  |  | — |
Maximum potential RSU and cash settled awards outstanding | — |  |  | 732,975 |  |  | 92,600 |  |  | 35,952 |  |  | 5,522 |
Maximum potential awards outstanding | — |  |  | 1,017,975 |  |  | 92,600 |  |  | 35,952 |  |  | 5,522 |
RSUs and cash settled awards vested and released | — |  |  | — |  |  | — |  |  | — |  |  | — |
Awards available for grant | 2,500,000 |  |  | — |  |  | — |  |  | — |  |  | — |
Stock Options We have no stock options exercisable or outstanding as of June 30, 2018, other than the performance-based stock options described below. Performance-Based Stock Options During 2015 and 2016, the Compensation Committee of the Board of Directors of the Company (the “Committee”) granted a total of 350,000 performance-based stock option awards (“Performance-Based Option Awards”) for certain employees under the 2014 Plan, of which 285,000 remain outstanding after considering forfeitures. The Performance-Based Option Awards have an exercise price of $18.37, a term of five years, and generally will become exercisable (provided the optionee remains employed by the Company or an affiliate) upon our attainment of at least $600,000 in revenues during any of our trailing four quarterly periods (as determined by the Committee) during the term. We have not recognized any expense on these Performance-Based Option Awards for the six-month periods ended June 30, 2018 and 2017, since the revenue target was not deemed likely to be attained based on our current forecast. Service-Based Restricted Stock Units The following table summarizes the service-based RSU activity as of and for the six months ended June 30, 2018:
| Units |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2018 | 399,347 |  |  | $ | 14.60 |
Granted | 74,222 |  |  | 26.31 |
Vested and released | (130,301 | ) |  | 14.22 |
Forfeited | (1,938 | ) |  | 20.86 |
Outstanding at June 30, 2018 | 341,330 |  |  | $ | 17.26 |
Releasable at June 30, 2018 | 194,674 |  |  | $ | 12.82 |
Performance and Market-Based Restricted Stock Units The following table summarizes the performance and market-based RSU activity as of and for the six months ended June 30, 2018:
| Units |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2018 | 271,305 |  |  | $ | 18.77 |
Granted | 72,043 |  |  | 28.75 |
Attained by performance | 18,600 |  |  | 17.66 |
Released | (72,456 | ) |  | 18.66 |
Forfeited | (21,700 | ) |  | 17.66 |
Outstanding at June 30, 2018 | 267,792 |  |  | $ | 21.44 |
Releasable at June 30, 2018 | — |  |  | $ | — |
The following table summarizes each grant of performance awards outstanding at June 30, 2018.
Description | Grant Date | Vesting Year | Vesting Dependency | Target Units Outstanding | Maximum Number of Units to be Granted
2016 - 2018 Performance RSUs | February 16, 2016 | 2018 | 35% RTSR, 35% sales growth, 30% operating cash flow | 92,840 |  | 185,680 |
2017 - 2019 Performance RSUs | February 9, 2017 | 2019 | 35% RTSR, 35% sales growth, 30% operating cash flow | 71,796 |  | 143,592 |
2017 - 2019 Performance RSUs | February 9, 2017 | 2018 - 2020 | Operating Income | 27,113 |  | 27,113 |
2018 - 2020 Performance RSUs | February 8, 2018 | 2020 | 35% RTSR, 35% sales growth, 30% operating cash flow | 40,223 |  | 80,446 |
2018 - 2020 Performance RSUs | February 16, 2018 | 2020 | 35% RTSR, 35% sales growth, 30% operating cash flow | 31,820 |  | 63,640 |
Single Crystal Performance RSUs | March 31, 2016 | 2018 | Various | 4,000 |  | 8,000 |
Cash-Settled Restricted Stock Units Cash-Settled RSUs entitle the holder to receive the cash equivalent of one share of common stock for each unit when the unit vests. These RSUs are issued to key employees residing in foreign locations as direct compensation. Generally, these RSUs vest over a three-year period. Cash-Settled RSUs are classified as liabilities and are remeasured at each reporting date until settled. At June 30, 2018 and December 31, 2017 we had 17,248 and 14,082 cash-settled RSUs outstanding, respectively. At June 30, 2018 and December 31, 2017, liabilities of $184 and $241, respectively were included in Accrued liabilities on our Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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