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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation | NOTE 15 - Stock-Based Compensation At September 30, 2020, we had five active stock-based compensation plans: the Non-Employee 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. These plans allow for grants of stock options, stock appreciation rights, restricted stock, restricted stock units ("RSUs"), performance shares, performance units, and other stock awards subject to the terms of the specific plans under which the awards are granted. 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 |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Service-based RSUs |  | $ | 580 |  |  | $ | 618 |  |  | $ | 1,939 |  |  | $ | 1,712 |
Performance-based RSUs |  |  | 472 |  |  |  | 486 |  |  |  | 123 |  |  |  | 2,072 |
Cash-settled RSUs |  |  | 67 |  |  |  | 53 |  |  |  | 102 |  |  |  | 166 |
Total |  | $ | 1,119 |  |  | $ | 1,157 |  |  | $ | 2,164 |  |  | $ | 3,950 |
Income tax benefit |  |  | 257 |  |  |  | 262 |  |  |  | 497 |  |  |  | 893 |
Net expense |  | $ | 862 |  |  | $ | 895 |  |  | $ | 1,667 |  |  | $ | 3,057 |
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 |
|  | September 30, 2020 |  |  | Period |
Service-based RSUs |  | $ | 1,989 |  |  |  | 1.43 |
Performance-based RSUs |  |  | 2,311 |  |  |  | 1.90 |
Total |  | $ | 4,300 |  |  |  | 1.68 |
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 September 30, 2020:
|  | 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 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Maximum potential RSU and cash settled awards outstanding |  |  | 495,246 |  |  |  | 179,528 |  |  |  | 75,200 |  |  |  | 35,952 |  |  |  | 5,522 |
Maximum potential awards outstanding |  |  | 495,246 |  |  |  | 179,528 |  |  |  | 75,200 |  |  |  | 35,952 |  |  |  | 5,522 |
RSUs and cash settled awards vested and released |  |  | 36,471 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Awards available for grant |  |  | 1,968,283 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Service-Based Restricted Stock Units The following table summarizes the service-based RSU activity for the nine months ended September 30, 2020:
|  | Units |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2019 |  |  | 364,396 |  |  | $ | 19.87 |
Granted |  |  | 92,996 |  |  |  | 27.73 |
Vested and released |  |  | (91,762 | ) |  |  | 22.76 |
Forfeited |  |  | (13,997 | ) |  |  | 28.70 |
Outstanding at September 30, 2020 |  |  | 351,633 |  |  | $ | 20.84 |
Releasable at September 30, 2020 |  |  | 185,974 |  |  | $ | 14.63 |
Performance and Market-Based Restricted Stock Units The following table summarizes the performance and market-based RSU activity for the nine months ended September 30, 2020:
|  | Units |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2019 |  |  | 217,229 |  |  | $ | 27.73 |
Granted |  |  | 126,521 |  |  |  | 28.37 |
Attained by performance |  |  | 38,820 |  |  |  | 23.84 |
Released |  |  | (111,838 | ) |  |  | 23.74 |
Forfeited |  |  | (40,673 | ) |  |  | 29.34 |
Outstanding at September 30, 2020 |  |  | 230,059 |  |  | $ | 28.94 |
Releasable at September 30, 2020 |  |  | — |  |  | $ | — |
The following table summarizes each grant of performance awards outstanding at September 30, 2020.
Description |  | Grant Date |  | Vesting Year |  | Vesting Dependency |  | Target Units Outstanding |  |  | Maximum Number of Units to be Granted |
2018 - 2020 Performance RSUs |  | February 8, 2018 |  | 2020 |  | 35% RTSR, 35% sales growth, 30% operating cash flow |  |  | 22,082 |  |  |  | 44,164 |
2018 - 2020 Performance RSUs |  | February 16, 2018 |  | 2020 |  | 35% RTSR, 35% sales growth, 30% operating cash flow |  |  | 31,820 |  |  |  | 63,640 |
2019 - 2021 Performance RSUs |  | February 7, 2019 |  | 2021 |  | 35% RTSR, 35% sales growth, 30% operating cash flow |  |  | 50,456 |  |  |  | 100,912 |
2019 Supplemental Performance RSUs |  | February 7, 2019 |  | 2021 |  | Succession Planning Targets |  |  | 6,945 |  |  |  | 13,890 |
2020 - 2022 QTI Performance RSUs |  | September 24, 2019 |  | 2022 |  | 50% EBITDA growth, 50% Sales growth |  |  | 1,750 |  |  |  | 3,500 |
2020 - 2022 Performance RSUs |  | February 6, 2020 |  | 2022 |  | 25% RTSR, 40% sales growth, 35% operating cash flow |  |  | 63,006 |  |  |  | 126,012 |
Focus 2025 Performance RSUs |  | April 23, 2020 |  | 2024 |  | Cumulative revenues of $750 million over a trailing four-quarter period |  |  | 54,000 |  |  |  | 54,000 |
Total |  |  |  |  |  |  |  |  | 230,059 |  |  |  | 406,118 |
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 September 30, 2020 and December 31, 2019 we had 33,697 and 17,271 cash-settled RSUs outstanding, respectively. At September 30, 2020 and December 31, 2019, liabilities of $221 and $353, respectively, were included in Accrued expenses and other liabilities on our Condensed Consolidated Balance Sheets.

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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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