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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2018
STOCK-BASED COMPENSATION PLANS |
STOCK-BASED COMPENSATION PLANS | 6. 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, 2018, the Company had 1,017,780 shares of common stock available for grant under stock incentive plans. Restricted Stock The following is a summary of restricted stock grants, fair value and performance based awards:
|  |  |  |  |  |  | Awards with
|  | Unvested |  | Weighted average |  | performance
|  | restricted stock |  | grant date fair |  | vesting
For the year ended December 31, |  | awards |  | value |  | requirements
2018 |  | 64,656 |  | $ | 35.89 |  | 30,603
2017 |  | 105,785 |  | $ | 22.56 |  | 28,025
2016 |  | 105,662 |  | $ | 19.99 |  | 60,153
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. Short-term performance based grants can be achieved over a period of one year, and long-term performance grants can be earned through December 31, 2022. Earned grants are then subject to either a 3 year or 5 year service 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. For performance-based awards, the Company assesses the probability of the achievement of the awards during the year and recognizes expense accordingly. The following is a summary of restricted stock activity during years 2018, 2017 and 2016:
Balance, December 31, 2015 |  | 367,199
Awarded |  | 105,662
Forfeited |  | (5,912)
Vested |  | (158,407)
Balance, December 31, 2016 |  | 308,542
Awarded |  | 105,785
Forfeited |  | (17,676)
Vested |  | (174,683)
Balance, December 31, 2017 |  | 221,968
Awarded |  | 64,656
Forfeited |  | (18,867)
Vested |  | (112,015)
Balance, December 31, 2018 |  | 155,742
The following is a summary of performance based restricted stock activity during years 2018, 2017 and 2016:
|  | Total performance
|  | grants
Outstanding, December 31, 2015 |  | 29,188
Awarded |  | 60,153
Performance criteria met |  | (38,167)
Forfeited |  | (6,302)
Outstanding, December 31, 2016 |  | 44,872
Awarded |  | 28,025
Performance criteria met |  | (7,670)
Forfeited |  | (27,445)
Outstanding, December 31, 2017 |  | 37,782
Awarded |  | 30,603
Performance criteria met |  | (66,525)
Forfeited |  | (1,860)
Outstanding, December 31, 2018 |  | —
The performance criteria and forfeitures in the above table did not occur until the Board of Directors approved them during the February 2019, 2018 and 2017 meetings. Share-Based Compensation Expense Restricted Stock During 2018, 2017 and 2016 compensation expense net of forfeitures of $2,643, $2,026 and $1,893 was respectively recorded. As of December 31, 2018, there was $3,095 of total unrecognized compensation expense related to restricted stock awards, of which approximately $1,497 is expected to be recognized in 2019. 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 2018, 2017 and 2016) or ii) the annual interest payable on any loan outstanding to the Company from the ESOP. Company contributions to the Plan accrued for 2018, 2017 and 2016, respectively, were $1,090, $849 and $674. 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 its U.S. based employees. The plan provides for the deferral of employee compensation under Section 401(k) and a discretionary Company match. In 2018, 2017 and 2016 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 $1,182, $1,090 and $1,085 in 2018, 2017 and 2016, respectively. Dividends For the year ended December 31, 2018, a total of $0.115 per share on all outstanding shares was declared and paid. For the years ended December 31, 2017 and 2016 a total of $0.10 per share on all outstanding shares was declared and paid. Total dividends paid for the years ended December 31, 2018, 2017 and 2016 were $1,079, $959 and $942, 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://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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