XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.21.1

Stock-Based Compensation | 3 Months Ended
--- | ---
Apr. 04, 2021
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation For the first quarter of 2021, the Company recognized stock compensation expense of $1.4 million, and related tax benefit of $0.1 million. For the first quarter of 2020, the Company recognized stock compensation expense of $1.2 million, and related tax expense of $0.2 million. Performance Shares During 2021, the Company granted performance share awards associated with the Company’s Class A common stock to certain senior officers. The payment of performance share awards, which will be satisfied with the issuance of shares out of treasury stock, is contingent upon the achievement of specific revenue growth and EBITDA margin performance goals ("financial measure performance share awards") over a stated period of time. The maximum number of performance shares that may be earned is 200% of the target shares originally granted. These awards have three one-year performance periods: 2021, 2022 and 2023, with the payout for each performance period based on separate financial measure goals that are set in February of each of the three performance periods. For the 2021 and 2022 performance periods, half of the shares earned in each respective performance period will vest after achievement of the respective performance goals for the year and approval of the financial results by the Compensation Committee, in early 2022 and 2023, respectively, if not forfeited by the recipient. The remaining half of the shares earned for the 2021 and 2022 performance periods will vest in early 2024, based on continuous employment. For the 2023 performance period, any shares earned will vest after achievement of the 2023 performance goals for the year and approval of the financial results by the Compensation Committee in early 2024, if not forfeited by the recipient. No dividends are paid on these performance shares. A summary of the status of all nonvested performance shares at target as of first quarter-end 2021 and changes during this period is presented as follows below (in thousands of shares except per share data). The vesting adjustment in the table below represents the 2018 financial measure performance shares and the 2018 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 2020 | 366 |  |  | $ | 22.40 |  |  | 47 |  |  | $ | 31.38 |
Granted | 180 |  |  | 20.20 |  |  | — |  |  | — |
Vested | (12) |  |  | 25.10 |  |  | — |  |  | — |
Forfeited | (11) |  |  | 24.30 |  |  | — |  |  | — |
Vesting adjustment | (93) |  |  | 16.99 |  |  | (47) |  |  | 31.38 |
Nonvested at first quarter-end 2021 | 430 |  |  | $ | 23.69 |  |  | — |  |  | $ | — |
Restricted Stock A summary of the status of nonvested restricted stock as of first quarter-end 2021 and changes during this period is presented as follows below (in thousands of shares except per share data).
| Shares |  | Weighted Average Grant Date Fair Value
Nonvested at year-end 2020 | 281 |  |  | $ | 22.74 |
Granted | 195 |  |  | 21.05 |
Vested | (83) |  |  | 23.36 |
Forfeited | (10) |  |  | 24.45 |
Nonvested at first quarter-end 2021 | 383 |  |  | $ | 21.70 |

X
- 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
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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