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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share-Based Compensation (income) expense

The following table summarizes share-based compensation (income) expense:

		Three Months Ended
		March 31,
(in thousands)		2021				2020
Performance-based restricted stock units		$	140			$	(2,635	)
Restricted stock awards and restricted stock units			1,244				490
Stock options			379				—
Share-based compensation (income) expense before income tax			1,763				(2,145	)
Income tax benefit(1)			(27	)			(109	)
Share-based compensation (income) expense, net of income tax		$	1,736			$	(2,254	)

⁽¹⁾ The 2021 income tax benefit amount primarily reflects the tax benefit associated with our Canadian-based employees. There was no income tax benefit associated with our employees in the United States and the United Kingdom due to a valuation allowance on our deferred tax assets within these jurisdictions. Refer to Note 17 – Income Taxes.

Summary of Activity of the Outstanding PRSU Awards

The following table summarizes the activity of the outstanding PRSU awards:

		Equity-Based PRSU Awards								Liability-Based PRSU Awards
		Shares				Weighted-Average Grant Date Fair Value				Shares				Weighted-Average Grant Date Fair Value
Balance at December 31, 2020			61,208			$	57.18				121,485			$	56.34
Granted			101,785			$	31.28				—			$	—
Vested			—			$	—				(42,698	)		$	51.96
Forfeited			—			$	—				(703	)		$	56.97
Balance at March 31, 2021			162,993			$	41.01				78,084			$	57.12

Summary of Activity of the Outstanding Restricted Stock Awards And Restricted Stock Units

The following table summarizes the activity of the outstanding restricted stock awards and restricted stock units:

		Equity-Based Restricted Stock Awards								Equity-Based Restricted Stock Units								Liability-Based 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, 2020			107,107			$	53.23				151,261			$	19.51				10,459			$	51.91
Granted			22,320			$	44.80				62,919			$	44.79				—			$	—
Vested			(37,170	)		$	53.86				—			$	—				(3,174	)		$	52.24
Forfeited			(1,030	)		$	56.94				(2,026	)		$	19.75				—			$	—
Balance at March 31, 2021			91,227			$	50.87				212,154			$	27.00				7,285			$	53.34

Summary of Stock Option Activity

The following table summarizes stock option activity:

		Shares				Weighted-Average Exercise Price				Aggregate Intrinsic Value(1)
Options outstanding at December 31, 2020			204,150			$	19.98
Granted			137,858			$	44.80
Exercised			—			$	—
Options outstanding at March 31, 2021			342,008			$	29.98			$	4,445,085
Options exercisable at March 31, 2021			—			$	—			$	—

Summary of Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as of March 31, 2021:

				Options Outstanding												Options Exercisable
Range of exercise prices				Shares				Weighted-Average Remaining Contractual Life (in years)				Weighted-Average Exercise Price				Shares				Weighted-Average Exercise Price
$	19.30				150,000				7.75			$	19.30				—			$	—
$	21.85				54,150				6.41			$	21.85				—			$	—
$	44.80				137,858				6.90			$	44.80				—			$	—
$19.30 - $44.80					342,008				7.20			$	29.98				—			$	—

Assumptions Used in the Black-Scholes Option Pricing Model to Estimate the Fair Value of Each Stock Option Grant

Following is additional information on stock options granted during the three months ended March 31, 2021 and the underlying assumptions used in assessing fair value:

		Three Months Ended
		March 31, 2021
Assumptions used to estimate fair value of stock options granted:
Risk-free interest rate		0.50%
Expected term (in years)			4.5
Expected volatility		55.8%
Expected dividend yield			—
Weighted average grant-date fair value per share of options granted		$	20.26

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