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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Stock Based Compensation

Schedule of equity incentive plans


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2020			2019			2020			2019
Restricted stock grants:
Number of shares			—			—			149,550			150,050
Average per share grant price		$	—		$	—		$	28.10		$	25.70
Deferred compensation to be recognized over vesting period		$	—		$	—		$	4,202,000		$	3,856,000

Number of non-vested shares:
Non-vested beginning of period			701,675			689,150			674,250			651,250
Grants			—			—			149,550			150,050
Vested during period			—			(2,500)			(122,125)			(114,650)
Forfeitures			—			(12,400)			—			(12,400)
Non-vested end of period			701,675			674,250			701,675			674,250

RSU grants:
Number of underlying shares			75,026			77,776			75,026			77,776
Average per share grant price		$	17.31		$	28.96		$	17.31		$	28.96
Deferred compensation to be recognized over vesting period		$	861,000		$	923,000		$	861,000		$	923,000

Number of non-vested shares:
Non-vested beginning of period			148,776			152,500			225,026			152,500
Grants			75,026			77,776			75,026			77,776
Vested during period			—			—			(24,343)			—
Forfeitures			—			—			(51,907)			—
Non-vested end of period			223,802			230,276			223,802			230,276

Restricted stock and RSU grants:
Weighted average per share value of non-vested shares (based on grant price)		$	24.98		$	24.98		$	24.98		$	24.98
Value of stock vested during the period (based on grant price)		$	—		$	61,500		$	3,589,000		$	2,365,000
Weighted average per share value of shares forfeited during the period (based on grant price)		$	—		$	24.41		$	24.03		$	24.41

The total charge to operations:
Outstanding restricted stock grants		$	885,000		$	717,000		$	2,644,000		$	2,403,000
Outstanding RSUs			251,000			225,000			797,000			431,000
Total charge to operations		$	1,136,000		$	942,000		$	3,441,000		$	2,834,000