Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-based compensation awards granted by our Board of Directors for the three and nine months ended September 30, 2020 and 2019 were as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2020	2019	2020	2019
Award type:
Stock options	4,000	—	304,000	207,000
Deferred share units	20,027	16,176	44,670	23,121
Restricted stock units	16,729	1,551	328,720	235,170

In the three months ended September 30, 2020 and 2019, we recognized $0.8 million and $0.7 million, respectively, in stock-based compensation expense. A majority of the expense, $0.7 million and $0.6 million respectively, was recorded as selling and administrative expense in the Consolidated Statement of Operations, with the remaining expenses incurred as cost of sales.

In the nine months ended September 30, 2020 and 2019, we recognized $1.9 million and $1.6 million, respectively, in stock-based compensation expense. A majority of the expense, $1.6 million and $1.4 million, respectively, was recorded as selling and administrative expense in the Consolidated Statement of Operations, with the remaining expenses incurred as cost of sales.

As of September 30, 2020, unrecognized compensation cost related to non-vested stock options, deferred share units and restricted stock units was $8.4 million, which will be recognized over the remaining weighted average life of 3.6 years.

Stock Option, Deferred Share Unit and Restricted Stock Unit awards activity under the Omnibus Equity Incentive Plan for the nine months ended September 30, 2020 was as follows:

Stock Options


	Number of Shares	Weighted- Average Exercise Price
Outstanding unvested as of December 31, 2019	931,658	$	15.06
Granted	304,000	8.99
Vested	(186,162)	15.20
Forfeited	(143,960)	14.82
Outstanding unvested as of September 30, 2020	905,536	$	13.03

Deferred Share Unit and Restricted Stock Unit awards


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding unvested as of December 31, 2019	282,716	$	12.83
Granted	373,390	8.77
Vested	(87,112)	10.18
Forfeited	(45,760)	12.24
Outstanding unvested as of September 30, 2020	523,234	$	10.43