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Stock Option And Stock Award Plans | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Stock Option And Stock Award Plans | STOCK OPTION AND STOCK AWARD PLANS Tredegar has one equity incentive plan under which stock options may be granted to purchase a specified number of shares of common stock at a price no lower than the fair market value on the date of grant and for a term not to exceed 10 years. Stock options granted by the Company during 2019, 2018 and 2017 either vest after 2 years and have a 7-year life or vest after 3 years and have a 5-year life. The option plan also permits the granting of stock appreciation rights (“SARs”), stock, restricted stock, stock unit awards and incentive awards. Restricted stock grants ordinarily vest three years from the date of grant based upon continued employment. Stock unit awards vest upon the achievement of certain performance targets. No SARs have been granted since 1992 and none are currently outstanding. A summary of stock options outstanding at December 31, 2019, 2018 and 2017, and changes during those years, is presented below:
|  |  | Option Exercise Price/Share
| Number of Options |  | Range |  | Weighted Average
Outstanding at January 1, 2017 | 500,919 |  |  | $ | 17.13 |  |  | to |  | $ | 30.01 |  |  | $ | 21.67 |
Granted | 209,551 |  |  | 15.65 |  |  | to |  | 15.65 |  |  | 15.65 |
Forfeited and expired | (60,685 | ) |  | 17.13 |  |  | to |  | 30.01 |  |  | 21.42 |
Exercised | (41,265 | ) |  | 19.84 |  |  | to |  | 19.84 |  |  | 19.84 |
Outstanding at December 31, 2017 | 608,520 |  |  | 15.65 |  |  | to |  | 24.84 |  |  | 19.75 |
Granted | 451,083 |  |  | 19.35 |  |  | to |  | 19.35 |  |  | 19.35 |
Forfeited and expired | (96,089 | ) |  | 15.65 |  |  | to |  | 24.84 |  |  | 19.58 |
Exercised | (73,398 | ) |  | 15.65 |  |  | to |  | 22.49 |  |  | 18.15 |
Outstanding at December 31, 2018 | 890,116 |  |  | 15.65 |  |  | to |  | 24.84 |  |  | 19.69 |
Granted | 758,287 |  |  | 18.48 |  |  | to |  | 18.48 |  |  | 18.48 |
Forfeited and expired | (10,000 | ) |  | 19.40 |  |  | to |  | 19.40 |  |  | 19.40 |
Exercised | (9,500 | ) |  | 19.40 |  |  | to |  | 19.40 |  |  | 19.40 |
Outstanding at December 31, 2019 | 1,628,903 |  |  | $ | 15.65 |  |  | to |  | $ | 24.84 |  |  | $ | 19.13 |
The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2019:
|  |  |  |  |  | Options Outstanding at December 31, 2019 |  | Options Exercisable at December 31, 2019
|  |  |  |  |  |  |  | Weighted Average |  | Aggregate Intrinsic Value |  |  |  |  |  | Aggregate Intrinsic Value
Range of Exercise Prices |  | Shares |  | Remaining Contractual Life (Years) |  | Exercise Price |  |  | Shares |  | Weighted Average Exercise Price |
$ | — |  |  | to |  | $ | 15.00 |  |  | — |  |  | 0.0 |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | $ | — |
15.01 |  |  | to |  | 17.50 |  |  | 163,641 |  |  | 4.4 |  | 15.65 |  |  | 1,096,395 |  |  | 104,326 |  |  | 15.65 |  |  | 698,984 |
17.51 |  |  | to |  | 20.00 |  |  | 1,255,670 |  |  | 5.3 |  | 18.83 |  |  | 4,424,405 |  |  | 46,300 |  |  | 19.40 |  |  | 136,585 |
20.01 |  |  | to |  | 25.00 |  |  | 209,592 |  |  | 3.5 |  | 23.69 |  |  | — |  |  | 209,592 |  |  | 23.69 |  |  | — |
Total |  | 1,628,903 |  |  | 5.0 |  | $ | 19.13 |  |  | $ | 5,520,800 |  |  | 360,218 |  |  | $ | 20.81 |  |  | $ | 835,569 |
The following table summarizes additional information about unvested restricted stock outstanding at December 31, 2019, 2018 and 2017:
| Unvested Restricted Stock |  | Maximum Unvested Restricted Stock Units Issuable Upon Satisfaction of Certain Performance Criteria
| Number of Shares |  | Weighted Avg. Grant Date Fair Value/Share |  | Grant Date Fair Value (In thousands) |  | Number of Shares |  | Weighted Avg. Grant Date Fair Value/Share |  | Grant Date Fair Value (In thousands)
Outstanding at January 1, 2017 | 207,355 |  |  | $ | 15.90 |  |  | $ | 3,297 |  |  | 238,429 |  |  | $ | 16.39 |  |  | $ | 3,908 |
Granted | 107,362 |  |  | 18.29 |  |  | 1,964 |  |  | 46,205 |  |  | 17.38 |  |  | 803 |
Vested | (50,154 | ) |  | 19.72 |  |  | (989 | ) |  | — |  |  | — |  |  | — |
Forfeited | (57,887 | ) |  | 16.16 |  |  | (935 | ) |  | (112,501 | ) |  | 17.73 |  |  | (1,995 | )
Outstanding at December 31, 2017 | 206,676 |  |  | 16.15 |  |  | 3,337 |  |  | 172,133 |  |  | 15.78 |  |  | 2,716 |
Granted | 119,915 |  |  | 17.39 |  |  | 2,085 |  |  | 61,227 |  |  | 17.35 |  |  | 1,062 |
Vested | (64,702 | ) |  | 18.31 |  |  | (1,185 | ) |  | — |  |  | — |  |  | — |
Forfeited | (17,153 | ) |  | 15.84 |  |  | (272 | ) |  | (48,651 | ) |  | 13.23 |  |  | (644 | )
Outstanding at December 31, 2018 | 244,736 |  |  | 16.20 |  |  | 3,965 |  |  | 184,709 |  |  | 16.97 |  |  | 3,134 |
Granted | 185,422 |  |  | 18.46 |  |  | 3,423 |  |  | 57,442 |  |  | 18.34 |  |  | 1,053 |
Vested | (117,834 | ) |  | 14.76 |  |  | (1,739 | ) |  | (69,926 | ) |  | 10.96 |  |  | (766 | )
Forfeited | (26,389 | ) |  | 16.11 |  |  | (425 | ) |  | (24,562 | ) |  | 11.51 |  |  | (283 | )
Outstanding at December 31, 2019 | 285,935 |  |  | $ | 18.27 |  |  | $ | 5,224 |  |  | 147,663 |  |  | $ | 21.25 |  |  | $ | 3,138 |
The total intrinsic value of stock options exercised was $0.1 million in 2019, $0.4 million in 2018 and $0.2 million in 2017. The grant-date fair value of stock option-based awards vested was $0.5 million in 2019, $0.1 million in 2018 and $0.4 million in 2017. As of December 31, 2019, there was unrecognized compensation cost of $1.9 million related to stock option-based awards and $2.5 million related to non-vested restricted stock and other stock-based awards. This cost is expected to be recognized over the remaining weighted average period of 1.09 years for stock option-based awards and 1.44 years for non-vested restricted stock and other stock-based awards. Stock option awards granted in 2019 included a retirement provision that allowed for the immediate vesting of options held by a participant of the plan that ceased to provide service, including service as a member of the board of directors, with the Company subsequent to reaching the age of 65. As a result of this provision and in accordance with accounting for stock-based compensation, the Company accelerated the recognition of $1.3 million of expense into 2019. At December 31, 2019, the participant continues to provide ongoing service to the Company, and therefore continues to vest in the stock options under the originally contemplated service period. Stock options exercisable totaled 360,218 shares at December 31, 2019 and 275,392 shares at December 31, 2018. Stock options available for grant totaled 954,454 shares at December 31, 2019.

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