XML 30 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

Share-Based Compensation | 3 Months Ended
--- | ---
Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | Note 3. Share-Based Compensation The following table summarizes share-based compensation (income) expense:
|  | Three Months Ended |
|  | March 31, |
(in thousands) |  | 2020 |  |  | 2019 |
Performance unit incentive plan (“PUP”)(1) |  | $ | (2,635 | ) |  | $ | 1,423 |
Restricted stock |  |  | 650 |  |  |  | 693 |
Restricted stock units |  |  | (160 | ) |  |  | 90 |
Share-based compensation (income) expense before income tax benefit |  |  | (2,145 | ) |  |  | 2,206 |
Income tax benefit |  |  | (109 | ) |  |  | (558 | )
Share-based compensation (income) expense, net of income tax benefit |  | $ | (2,254 | ) |  | $ | 1,648 |
(1) | PUP awards are liability-based awards that are tied to our stock price and the expected achievement of certain performance-based criteria. During the three months ended March 31, 2020, the value of the PUP awards decreased due to the reduction of our estimated performance achievement and the decline in our stock price as a result of COVID-19.
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, 2019 |  |  | 214,904 |  |  | $ | 52.53 |  |  |  | 136,123 |  |  | $ | 52.66 |  |  |  | 11,623 |  |  | $ | 52.17 |
Granted |  |  | 84,898 |  |  | $ | 56.15 |  |  |  | 47,742 |  |  | $ | 55.91 |  |  |  | 3,391 |  |  | $ | 55.24 |
Vested |  |  | (67,866 | ) |  | $ | 47.43 |  |  |  | (61,475 | ) |  | $ | 50.02 |  |  |  | (2,815 | ) |  | $ | 47.45 |
Forfeited |  |  | (595 | ) |  | $ | 58.79 |  |  |  | (1,494 | ) |  | $ | 54.39 |  |  |  | (760 | ) |  | $ | 56.88 |
Balance at March 31, 2020 |  |  | 231,341 |  |  | $ | 55.34 |  |  |  | 120,896 |  |  | $ | 55.26 |  |  |  | 11,439 |  |  | $ | 53.93 |
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 term 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 March 31, 2020, there were 1,505,330 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 over a three-year period. During the three months ended March 31, 2020, we granted PUP awards with a grant date fair value of $4.8 million of which $1.8 million are payable in shares. Liabilities related to PUP awards were $0.4 million as of March 31, 2020 and $5.3 million as of December 31, 2019. In 2020, PUP awards granted in 2017 vested and we paid $2.6 million in cash. No PUP awards were paid in shares in 2020. In 2019, PUP awards granted in 2016 vested and we paid $5.6 million in cash and $3.4 million in shares. In 2019, we withheld 25,771 shares for $1.5 million related to tax withholding requirements on vested PUP awards paid in shares. Restricted Stock As of March 31, 2020, the unamortized cost of outstanding restricted stock awards was $4.4 million, which we expect to recognize over a weighted-average period of approximately 1.8 years. We repurchased 17,674 shares for $1.1 million during the three months ended March 31, 2020 and 24,067 shares for $1.4 million during the three months ended March 31, 2019 related to tax withholding requirements on vested share-based awards. Restricted Stock Units Aggregate liabilities related to restricted stock units were $0.1 million as of March 31, 2020 and $0.4 million as of December 31, 2019. During the three months ended March 31, 2020, restricted stock units vested and we paid $0.2 million in cash. During the three months ended March 31, 2019, restricted stock units vested and we paid $0.3 million in cash. Stock Options The following table summarizes stock option activity:
|  | Shares |  |  | Weighted-Average Exercise Price |
Options outstanding and exercisable at December 31, 2019 |  |  | 41,143 |  |  | $ | 16.62 |
Exercised |  |  | (41,143 | ) |  | $ | 16.62 |
Options outstanding and exercisable at March 31, 2020 |  |  | — |  |  | $ | — |

X
- 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
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration