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Stock-Based Compensation | 9 Months Ended
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Sep. 27, 2020
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation For the third quarter of 2020, the Company recognized stock compensation expense of $0.5 million, and related tax benefit of $0.2 million. For the third quarter of 2019, the Company recognized stock compensation benefit of $0.5 million, and related tax benefit of $0.4 million. For September year to date 2020, the Company recognized stock compensation expense of $2.9 million, and related tax benefit of $0.2 million. For September year to date 2019, the Company recognized stock compensation expense of $4.7 million, and related tax benefit of $1.1 million. Performance Shares A summary of the status of all nonvested performance shares at target as of third quarter-end 2020 and year-to-date changes is presented as follows below (in thousands of shares except per share data). There has been no grant of performance shares since year-end 2019. The majority of the vested shares in the table below is related to the 2017 performance share grant, which cliff-vested after approval from the Compensation Committee during the first quarter of 2020. The majority of the forfeited shares in the table below is related to the separation of two former senior officers during the third quarter of 2020. The vesting adjustment in the table below represents the 2017 Total Shareholder Return ("TSR") performance shares that did not vest because actual achievement was below the threshold level and resulted in no payout.
| Financial Measure Performance Shares |  | TSR Performance Shares
| Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at year-end 2019 | 502 |  |  | $ | 24.21 |  |  | 114 |  |  | $ | 25.24 |
Granted | — |  |  | — |  |  | — |  |  | — |
Vested | (155) |  |  | 24.02 |  |  | — |  |  | — |
Forfeited | (96) |  |  | 24.85 |  |  | (5) |  |  | 31.38 |
Vesting adjustment | — |  |  | — |  |  | (62) |  |  | 20.15 |
Nonvested at third quarter-end 2020 | 251 |  |  | $ | 22.32 |  |  | 47 |  |  | $ | 31.38 |
2018 Grant Update For the 2018 financial measure performance awards, the annual goals are set in February of each year, with the total award payout for 2018 grants based on a cumulative measure of the 2018, 2019 and 2020 goals. Accordingly, the Company remeasures the fair value of the 2018 financial measure performance shares each reporting period until the third year goals are set, after which the grant date fair value will be fixed for the remaining performance period. During the first quarter 2020, the final year of goals was set for the performance shares granted in 2018 and the grant date fair value for the 2018 financial measure performance shares was set at $17.35 per share. The grant date fair value per share will remain fixed for the remaining performance period. Restricted Stock A summary of the status of nonvested restricted stock as of third quarter-end 2020 and year-to-date changes is presented as follows below (in thousands of shares except per share data). The majority of the restricted stock granted related to new hires in the first quarter of 2020.
| Shares |  | Weighted Average Grant Date Fair Value
Nonvested at year-end 2019 | 360 |  |  | $ | 24.92 |
Granted | 64 |  |  | 14.69 |
Vested | (114) |  |  | 24.07 |
Forfeited | (30) |  |  | 24.64 |
Nonvested at third quarter-end 2020 | 280 |  |  | $ | 22.91 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: 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
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