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Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
Executive RSU grant
On March 13, 2019, VPG’s three current executive officers were granted annual equity awards in the form of RSUs, of which 75% are performance-based. The awards have an aggregate target grant-date fair value of $1.8 million and were comprised of 38,860 RSUs. Twenty-five percent of these awards will vest on January 1, 2022, subject to the executives continued employment. The performance-based portion of the RSUs will also vest on January 1, 2022, subject to the executives continued employment and the satisfaction of certain performance objectives relating to three-year cumulative “free cash” and net earnings goals.
Lease Agreement
On February 17, 2019, one of the Company's indirect wholly-owned subsidiaries entered into a lease agreement as tenant related to a property in Israel. Such lease agreement provides that we will lease a new building containing approximately 121,400 square feet that will be built by the landlord. For more information, refer to the Form 8-K filed by the Company on February 19, 2019.