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STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2019

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

8. STOCK-BASED COMPENSATION

Stock Incentive Plans

The Company’s Stock Incentive Plans provide for the granting of stock awards, including restricted stock, stock options and stock appreciation rights, to employees and non-employees, including directors of the Company.

Restricted Stock

For the quarter ended March 31, 2019,  97,430 shares of unvested restricted stock were awarded at a weighted average market value of $42.24. Of the restricted shares granted, 76,629 shares have performance-based vesting conditions.  The value of the shares is amortized to compensation expense over the related service period, which is normally three years, or over the estimated performance period. Shares of unvested restricted stock are generally 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 for the quarter ended March 31, 2019:

		Number of
		shares
Outstanding at beginning of period		155,712
Awarded		97,430
Vested		(52,872)
Forfeited		(1,785)
Outstanding at end of period		198,485

Stock based compensation expense, net of forfeitures, of $674 and $496 was recorded for the quarters ended March 31, 2019 and 2018, respectively.

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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.

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-Publisher FASB
-Name Accounting Standards Codification
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