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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation | 17. Stock-Based Compensation Equity compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2021 is included in the Company’s 2020 Annual Report on Form 10-K. The total number of shares of the Company’s common stock available for awards under the Company’s 2013 Omnibus Incentive Plan (“2013 Plan”) is 7,477,395 shares. The total number of shares of the Company’s common stock still available for award issuance as of September 30, 2021 is 4,247,700 s hares. During the three months ended September 30, 2021, the Company recorded stock-based compensation expense of $1.6 million. In 2021, the Company recorded stock-based compensation in engineering, selling and administrative expense in the Condensed Consolidated Statement of Operations. During the nine months ended September 30, 2021, the Company recorded stock-based compensation of $6.4 million. The Company recognizes stock-based compensation expense over the award’s vesting period, subject to retirement, death or disability provisions of the 2013 Omnibus Incentive Plan. During the three months ended September 30, 2020, the Company recorded stock-based compensation income of $(0.5) million. Of the $(0.5) million recorded in 2020, $2.0 million of expense was recorded in engineering, selling, and administrative expense and $(2.5) million of income was recorded in restructuring expense in the Condensed Consolidated Statement of Operations. During th e nine months ended September 30, 2020, the Company recorded stock-based compensation expense of $5.4 million. Of the $5.4 million recorded in 2020, $7.9 million of expense was recorded in engineering, selling, and administrative expense and $(2.5) million of income was recorded in restructuring expense in the Condensed Consolidated Statement of Operations. Income recorded in restructuring expense in 2020 was primarily related to the forfeiture of grants associated with employee separation agreements. No options to a cquire shares of common stock were granted to employees during the three months ended September 30, 2021 and 2020. Options to acquire zero and 250,432 shares of common stock were granted to employees during the nine months ended September 30, 2021 and 2020, respectively. The options granted become exercisable in three annual increments over a three-year period beginning on the grant date and expire 10 years subsequent to the grant date. During the three months ended September 30, 2021 and 2020, 22,581 and zero restricted stock units were granted to employees, respectively. A total of 340,305 and 305,519 restricted stock units, respectively, were granted to employees during the nine months ended September 30, 2021 and 2020. The restricted stock units granted to employees vest in three annual increments over a three-year period beginning on the grant date. During the three months ended September 30, 2021 and 2020, no performance shares were granted to employees. During the nine months ended September 30, 2021 and 2020, 203,697 and 328,310 performance shares were granted to employees, respectively. Performance shares vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. The performance goals and the applicable performance period vary for each grant year. The performance goals for the performance share granted in 2021 are weighted 60% on the 3-year average of the Company’s adjusted EBITDA percentage from 2021 to 2023 and 40% on non-new machines sales as of the year ended December 31, 2023. The 2021 performance share include a +/-20% modifier weighted on total shareholder return relative to a defined peer group of companies during the three-year performance period, not to exceed 200% of target shares granted. The performance goals for the performance shares granted in 2020 are based 100% on the 3-year average of the Company’s adjusted EBITDA percentage from continuing operations from 2020 to 2022 with a +/-20% modifier based on total shareholder return relative to a defined peer group of companies during the three-year performance period, not to exceed 200% of target shares granted. No equity compensation awards were granted to non-employee directors during the three months ended September 30, 2021 and 2020. A total o f 56,672 and 77,608 equity compensation awards were granted to non-employee directors during the nine months ended September 30, 2021 and 2020, respectively. The 2021 and 2020 equity compensation awards vested immediately upon issuance at the grant date.

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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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