Stock Based Compensation (Notes)

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Our Board of Directors granted 979,790 stock options, 28,621 deferred stock units and 6,740 restricted stock units during the nine months ended September 30, 2018 under our Omnibus Equity Incentive Plan.

Stock-based compensation expense recognized was $0.5 million and $0.7 million in the three and nine months ended September, 30, 2018, respectively. A majority of the expense, $0.4 million and $0.6 million, respectively, was recorded as "Selling and Administrative Expenses" in the Condensed Consolidated Statement of Operations, with the remaining expenses incurred as cost of sales and research and development. There was no stock-based compensation expense recognized in the three and nine months ended September 30, 2017.

As of September 30, 2018, unrecognized compensation cost related to non-vested stock options, deferred stock units and restricted stock units represents $5.8 million, which will be recognized over the remaining weighted average life of 2.58 years.

Stock Option, Deferred Stock Unit and Restricted Stock Unit awards activity under the Omnibus Equity Incentive Plan for the nine months ended September 30, 2018 was as follows:

Stock Options



	Number of Shares		Weighted- Average Exercise Price
Outstanding unvested as of January 1, 2018	—		—
Granted	979,790		15.67
Forfeited	(11,070	)	15.00
Outstanding unvested as of September 30, 2018	968,720		15.68

Deferred Stock Units



	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding unvested as of January 1, 2018	—		—
Granted	28,621		14.84
Vested	(9,129	)	17.94
Outstanding unvested as of September 30, 2018	19,492		13.39

Restricted Stock Units

Number
of Shares

Weighted-
Average
Grant Date
Fair Value

Outstanding unvested as of January 1, 2018

Outstanding unvested as of September 30, 2018