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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | Note 3. Share-Based Compensation The following table summarizes share-based compensation expense:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands) |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Performance unit incentive plan (“PUP”) |  | $ | 1,607 |  |  | $ | 3,941 |  |  | $ | 3,125 |  |  | $ | 7,184 |
Restricted stock |  |  | 609 |  |  |  | 672 |  |  |  | 1,779 |  |  |  | 2,069 |
Restricted stock units |  |  | 78 |  |  |  | 124 |  |  |  | 152 |  |  |  | 231 |
Share-based compensation before income tax benefit |  |  | 2,294 |  |  |  | 4,737 |  |  |  | 5,056 |  |  |  | 9,484 |
Income tax benefit |  |  | (580 | ) |  |  | (1,752 | ) |  |  | (1,276 | ) |  |  | (3,524 | )
Share-based compensation, net of income tax benefit |  | $ | 1,714 |  |  | $ | 2,985 |  |  | $ | 3,780 |  |  | $ | 5,960 |
We did not record any share-based compensation expense through restructuring charges during the three and nine months ended September 30, 2018 or 2017. The following table summarizes the activity of the outstanding share-based compensation awards:
|  | PUP Awards |  |  | Restricted Stock |  |  | Restricted Stock Units |
|  | Shares |  |  | Weighted-Average Grant Date Fair Value |  |  | Shares |  |  | Weighted-Average Grant Date Fair Value |  |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Balance at December 31, 2017 |  |  | 239,338 |  |  | $ | 32.80 |  |  |  | 206,899 |  |  | $ | 33.16 |  |  |  | 12,750 |  |  | $ | 30.94 |
Granted |  |  | 76,925 |  |  | $ | 52.03 |  |  |  | 49,608 |  |  | $ | 52.34 |  |  |  | 3,898 |  |  | $ | 52.54 |
Vested |  |  | (75,761 | ) |  | $ | 27.29 |  |  |  | (72,934 | ) |  | $ | 27.41 |  |  |  | (4,300 | ) |  | $ | 27.35 |
Forfeited |  |  | (693 | ) |  | $ | 51.22 |  |  |  | (6,500 | ) |  | $ | 39.95 |  |  |  | (258 | ) |  | $ | 37.69 |
Balance at September 30, 2018 |  |  | 239,809 |  |  | $ | 40.65 |  |  |  | 177,073 |  |  | $ | 40.66 |  |  |  | 12,090 |  |  | $ | 39.04 |
Viad Corp Omnibus Incentive Plan We grant share-based compensation awards to our officers, directors, and certain key employees pursuant to the 2017 Viad Corp Omnibus Incentive Plan (the “2017 Plan”). The 2017 Plan has a 10-year life and provides for the following types of awards: (a) incentive and non-qualified stock options; (b) restricted stock and restricted stock units; (c) performance units or performance shares; (d) stock appreciation rights; (e) cash-based awards; and (f) certain other stock-based awards. In June 2017, we registered 1,750,000 shares of common stock issuable under the 2017 Plan. As of September 30, 2018, there were 1,666,111 shares available for future grant under the 2017 Plan. PUP Awards The vesting of PUP award shares is based upon achievement of certain performance-based criteria. The performance period of the shares is three years. During the nine months ended September 30, 2018, we granted PUP awards with a grant date fair value of $4.0 million of which $1.6 million are payable in shares. Liabilities related to PUP awards were $7.6 million as of September 30, 2018 and $11.0 million as of December 31, 2017. In March 2018, PUP awards granted in 2015 vested and we distributed cash payouts of $5.9 million. In March 2017, PUP awards granted in 2014 vested and we distributed cash payouts of $3.7 million. Restricted Stock As of September 30, 2018, the unamortized cost of outstanding restricted stock awards was $3.1 million, which we expect to recognize over a weighted-average period of approximately 1.2 years. We repurchased 21,767 shares for $1.2 million during the nine months ended September 30, 2018 and 26,916 shares for $1.3 million during the nine months ended September 30, 2017 related to tax withholding requirements on vested share-based awards. Restricted Stock Units Aggregate liabilities related to restricted stock units were $0.4 million as of September 30, 2018 and $0.5 million as of December 31, 2017. In February 2018, the 2015 restricted stock units vested and we distributed $0.2 million in cash payouts. In February 2017, portions of the 2012 and 2014 restricted stock units vested and we distributed $0.3 million in cash payouts. Stock Options The following table summarizes stock option activity:
|  | Shares |  |  | Weighted-Average Exercise Price |
Options outstanding and exercisable at December 31, 2017 |  |  | 63,773 |  |  | $ | 16.62 |
Exercised |  |  | (5,084 | ) |  | $ | 16.62 |
Options outstanding and exercisable at September 30, 2018 |  |  | 58,689 |  |  | $ | 16.62 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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