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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation |
5. | STOCK-BASED COMPENSATION
On September 30, 2017, the Company had stock options outstanding under its 2006 Incentive Compensation Plan and stock options, stock awards and SARs outstanding under its 2011 Incentive Compensation Plan. SARs granted prior to 2015 are cash-settled, and SARs granted in 2015 and thereafter are settled in shares of Company common stock. Stock options and SARs granted prior to 2017 cliff vest after two years. Stock options and SARs granted in 2017 have a three-year graded vesting feature, with one-third of the awards vesting each year. The Company has elected the straight-line method of expense attribution for the stock options and SARs with the graded vesting feature. Compensation expense recorded for all stock options, stock awards and SARs was as follows:
(In thousands) |
Three Months Ended September 30 |  |  | Nine Months Ended September 30 |
2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
$ | 1,697 |  |  | $ | 3,607 |  |  | $ | 6,248 |  |  | $ | 8,055 |
The decrease in stock-based compensation expense between the three-month periods ended September 30, 2017 and 2016, was primarily attributable to a decrease in cash-settled SARs compensation resulting from a decrease in the market price of Company common stock in the third quarter of 2017 versus an increase in the stock price of Company common stock in the third quarter of 2016. The above decrease in cash-settled SARs compensation was also the primary reason for the decline in stock-based compensation expense between the nine-month periods ended September 30, 2017 and 2016. Unrecognized compensation costs for stock options, stock awards and SARs were as follows:
(In thousands) |  | September 30, 2017 |  |  | December 31, 2016 |
Stock options |  | $ | 1,533 |  |  | $ | 895 |
Stock awards |  |  | 4,632 |  |  |  | 5,514 |
SARs |  |  | 3,178 |  |  |  | 1,859 |
The unrecognized compensation costs at September 30, 2017, are expected to be recognized over weighted-average periods of 2.0 years, 1.6 years and 2.0 years for stock options, stock awards and SARs, respectively. Grants of the following awards were made during the nine months ended September 30, 2017:
|  | Shares |
Stock options |  |  | 71,434 |
Stock awards (at target) |  |  | 44,599 |
SARs |  |  | 148,723 |

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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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