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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Stock Based Compensation

Summary of the activity of the equity incentive plans


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2019			2018			2019			2018
Restricted stock grants:
Number of shares			—			—			150,050			144,750
Average per share grant price			—			—		$	25.70		$	25.31
Deferred compensation to be recognized over vesting period			—			—		$	3,856,000		$	3,664,000

Number of non-vested shares:
Non-vested beginning of period			689,150			651,500			651,250			612,900
Grants			—			—			150,050			144,750
Vested during period			(2,500)			—			(114,650)			(106,000)
Forfeitures			(12,400)			(250)			(12,400)			(400)
Non-vested end of period			674,250			651,250			674,250			651,250

RSU grants:
Number of underlying shares			77,776			76,250			77,776			76,250
Average per share grant price		$	28.96		$	26.41		$	28.96		$	26.41
Deferred compensation to be recognized over vesting period		$	923,000		$	1,136,000		$	923,000		$	1,136,000

Number of non-vested shares:
Non-vested beginning of period			152,500			76,250			152,500			76,250
Grants			77,776			76,250			77,776			76,250
Vested during period			—			—			—			—
Forfeitures			—			—			—			—
Non-vested end of period			230,276			152,500			230,276			152,500


Restricted stock and RSU grants:
Weighted average per share value of non-vested shares (based on grant price)		$	24.98		$	23.83		$	24.98		$	23.83
Value of stock vested during the period (based on grant price)		$	61,500		$	—		$	2,365,000		$	2,289,000
Weighted average per share value of shares forfeited during the period (based on grant price)		$	24.41		$	23.39		$	24.41		$	23.59

The total charge to operations:
Outstanding restricted stock grants		$	717,000		$	763,000		$	2,403,000		$	2,263,000
Outstanding RSUs			225,000			208,000			431,000			390,000
Total charge to operations		$	942,000		$	971,000		$	2,834,000		$	2,653,000