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Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Stock Based Compensation

Summary of the activity of the equity incentive plans

		Three Months Ended March 31,
		2018			2017
Restricted stock:
Number of shares		144,750			140,100
Average per share grant price		$	25.31		$	24.75
Deferred compensation to be recognized over vesting period		$	3,664,000		$	3,467,000

Number of non-vested shares:
Non-vested beginning of period		612,900			591,750
Grants		144,750			140,100
Vested during period		(106,000		)	(104,950		)
Forfeitures		—			(500		)

Non-vested end of period		651,650			626,400


RSU grants:
Number of underlying shares		—			—
Average per share grant price		—			—
Deferred compensation to be recognized over vesting period		—			—

Number of non-vested shares:
Non-vested beginning of period		76,250			200,000
Grants		—			—
Vested during period		—			—
Forfeitures		—			—

Non-vested end of period		76,250			200,000


Restricted stock and RSU grants:
Weighted average per share value of non-vested shares (based on grant price)		$	23.56		$	19.25

Value of stock vested during the period (based on grant price)		$	2,289,000		$	1,760,000

Weighted average per share value of shares forfeited during the period (based on grant price)		$	—		$	22.64


The total charge to operations:
Outstanding restricted stock grants		$	735,000		$	693,900
Outstanding RSUs		91,000			48,300

Total charge to operations		$	826,000		$	742,200