XML 26 R12.htm IDEA: XBRL DOCUMENT
v3.22.1

Shareholders’ Equity and Stock Incentive Plans | 3 Months Ended
--- | ---
Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Shareholders’ Equity and Stock Incentive Plans | Shareholders’ Equity and Stock Incentive Plans Share Repurchase Program On March 12, 2019, the Company’s Board of Directors authorized the repurchase of up to $25 million worth of shares of common stock, subject to available liquidity, general market and economic conditions, alternate uses for the capital and other factors. Share repurchases may be made from time to time in open market transactions, block trades or in private transactions in accordance with applicable securities laws and regulations and other legal requirements, including compliance with the Company’s finance agreements. There is no minimum number of shares that the Company is required to repurchase and the repurchase program may be suspended or discontinued at any time without prior notice. On August 3, 2021, the Company’s Board of Directors increased this authorization to $50 million. In December 2021, the Company repurchased 226,485 shares of its common stock pursuant to its share repurchase program in open market transactions at an average price of $46.87 per share, resulting in a charge to accumulated deficit of $10.6 million. In March 2022, the Company repurchased 268,791 shares of its common stock pursuant to its share repurchase program in open market transactions at an average price of $56.54 per share, resulting in a charge to accumulated deficit of $15.2 million. As of March 31, 2022, the Company had $24.2 million of remaining share repurchase availability under its August 3, 2021 share repurchase authorization. On May 3, 2022, the Company’s Board of Directors re-authorized its $50 million share repurchase program. Stock Options The following table summarizes the Company’s stock option activity:
| Stock Options
| Shares |  | Weighted-Average Exercise Price
Outstanding at January 1, 2022 | 2,141,494 |  |  | $ | 11.31 |
Granted | — |  |  | $ | — |
Exercised | (36,000) |  |  | $ | 9.80 |
Cancelled | — |  |  | $ | — |
Expired | — |  |  | $ | — |
Outstanding at March 31, 2022 | 2,105,494 |  |  | $ | 11.33 |
Exercisable at March 31, 2022 | 2,105,494 |  |  | $ | 11.33 |
There was no share-based compensation expense related to stock options for the three months ended March 31, 2022 and the Company recorded share-based compensation expense of $0.2 million for the three months ended March 31, 2021. The Company did not have any remaining unrecognized share-based compensation expense related to stock options as of March 31, 2022 and 2021. Restricted Stock Units The following table summarizes the Company’s activity related to time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”):
|  | RSUs |  | PSUs
|  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares (1) |  | Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2022 |  | 815,420 |  |  | $ | 18.17 |  |  | 705,577 |  | (2) | $ | 13.84 |
Granted |  | 97,447 |  |  | $ | 53.51 |  |  | 83,579 |  |  | $ | 53.51 |
Performance adjustment |  | — |  |  | $ | — |  |  | 534,383 |  | (3) | $ | — |
Vested |  | (338,644) |  |  | $ | 15.79 |  |  | (247,380) |  | (4) | $ | 12.51 |
Cancelled |  | (18,693) |  |  | $ | 14.95 |  |  | — |  |  | $ | — |
Outstanding at March 31, 2022 |  | 555,530 |  |  | $ | 25.93 |  |  | 1,076,159 |  |  | $ | 19.79 |
(1) The number of shares for the PSUs listed as granted represents the “target” number of PSUs granted to each recipient eligible to vest if the Company meets its “target” performance goals for the applicable period. The actual number of PSUs eligible to vest for those PSUs will vary depending on whether or not the Company meets or exceeds the applicable threshold, target, or maximum performance goals for the PSUs, with 200% of the “target” number of PSUs eligible to vest at “maximum” performance levels. (2) Includes 171,194 shares of PSUs granted in March 2019 that were certified below target during the three months ended March 31, 2021 and vested during the three months ended March 31, 2022. Also includes PSUs granted in March 2020 and March 2021 at “target.” (3) The Company’s financial results for the applicable performance goals were certified during the three months ended March 31, 2022 and 200% of the target PSUs granted in March 2020 and March 2021 were deemed “earned” and will be eligible to vest on March 14, 2023 and 2024, respectively. (4) Includes 171,194 shares of PSUs granted in March 2019 and 76,186 shares of PSUs granted in March 2020 that vested during the three months ended March 31, 2022. Share-based compensation expense related to RSUs was $1.6 million and $1.3 million for the three months ended March 31, 2022 and 2021, respectively. Share-based compensation expense related to PSUs was $1.5 million and $1.2 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, there was $12.5 million and $11.3 million of unamortized share-based compensati on expense related to RSUs and PSUs, respectively, which is expected to be recognized over a weighted-average period of 2.2 years fo r both RSUs and PSUs. As of March 31, 2021, there was $11.3 million and $6.2 million of unamortized share-based compensation expense related to RSUs and PSUs, respectively, which is expected to be recognized over a weighted-average period of 2.4 years for both RSUs and PSUs. As of March 31, 2022, a total of 3,152,416 shares of the Company’s common stock remained available for grants of awards under the Golden Entertainment, Inc. 2015 Incentive Award Plan, which includes the annual increase in the number of shares available for grant on January 1, 2022 of 1,153,210 shares.

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

X
- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: 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_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration