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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2014
STOCK-BASED COMPENSATION PLANS |
STOCK-BASED COMPENSATION PLANS | 5. STOCK-BASED COMPENSATION PLANS Stock Incentive Plans The Company's Stock Incentive Plans provide for the granting of stock awards, including stock options, stock appreciation rights and restricted stock, to employees and non-employees, including directors of the Company. As of December 31, 2014, the Company had 760,800 shares of Common Stock available for grant under stock incentive plans. Restricted Stock During 2014 and 2013, 168,334 and 423,518 shares of unvested restricted stock were awarded with a weighted average value of $11.26 and $7.73 per share, respectively. Of the restricted shares granted in 2014 and 2013, 88,566 and 58,909 shares have performance based vesting requirements. The value at the date of award is amortized to compensation expense over the related service period, which is generally three years (for time vested grants), or over the performance period. Shares of non-vested restricted stock are forfeited if a recipient leaves the Company before the vesting date. Shares that are forfeited become available for future awards. The following is a summary of restricted stock activity during years 2014 and 2013:
|  | Number of Nonvested Restricted Shares |
Balance, December 31, 2012 |  |  | 243,124 |
Awarded |  |  | 423,518 |
Forfeited |  |  | (3,181 | )
Vested |  |  | (143,266 | )
​ | ​ | ​ | ​ | ​
Balance, December 31, 2013 |  |  | 520,195 |
Awarded |  |  | 168,334 |
Forfeited |  |  | (42,141 | )
Vested |  |  | (158,710 | )
​ | ​ | ​ | ​ | ​
Balance, December 31, 2014 |  |  | 487,678 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
The following is a summary of performance based restricted stock activity during years 2013 and 2014:
|  | Total performance grants |
Outstanding, December 31, 2012 |  |  | 10,000 |
Awarded |  |  | 58,909 |
Performance criteria met |  |  | (18,775 | )
Forfeited |  |  | (34,944 | )
​ | ​ | ​ | ​ | ​
Outstanding, December 31, 2013 |  |  | 15,190 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Awarded |  |  | 88,566 |
Performance criteria met |  |  | (92,583 | )
Forfeited |  |  | (5,281 | )
​ | ​ | ​ | ​ | ​
Outstanding, December 31, 2014 |  |  | 5,892 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
The performance criteria and forfeitures in the above table did not occur until the Board of Directors approved them during the February 2015 and 2014 meetings. Share-Based Compensation Expense Restricted Stock During 2014 and 2013, compensation expense net of forfeitures of $1,541 and $927 was recorded, respectively. As of December 31, 2014, there was $3,324 of total unrecognized compensation expense related to restricted stock awards, of which approximately $1,368 is expected to be recognized in 2015. Employee Stock Ownership Plan The Company sponsors an Employee Stock Ownership Plan ("ESOP") that covers all non-union U.S. employees who work over 1,000 hours per year. The terms of the ESOP require the Company to make an annual contribution equal to the greater of i) the Board established percentage of pretax income before the contribution (5% in 2014 and 2013) or ii) the annual interest payable on any loan outstanding to the Company. Company contributions to the Plan accrued for 2014 and 2013, respectively, were $980 and $304. These amounts are included in General and Administrative costs in the consolidated statements of income and comprehensive income. Defined Contribution Plan The Company sponsors the Allied Motion 401(k) Tax Advantaged Investment Plan ("401(k)") which covers substantially all of its U.S. based employees. The plan provides for the deferral of employee compensation under Section 401(k) and a discretionary Company match. In 2014 and 2013, this match was 100% per dollar of the first 3% of participant deferral and 50% per dollar of the next 2% contribution, up to 4% of a total 5% participant deferral. Net costs related to this defined contribution plan were $1,036 in 2014 and $506 in 2013. Dividends For the years ended December 31, 2014 and 2013, a total of $0.10 per share on all outstanding shares was declared and paid. Total dividends paid for the years ended December 31, 2014 and 2013 were $963 and $873, respectively. Based on the terms of the Company's Credit Agreement, dividends paid to shareholders are acceptable, subject to the Company's compliance with the covenants under the Credit Agreement.

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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 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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