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Employee Benefit Plans
6 Months Ended
Jun. 30, 2014
Share-Based Compensation

(7) Share-Based Compensation

 

Total compensation expense for share-based compensation arrangements recognized in the condensed consolidated statements of operations as a component of selling, general and administrative expenses was $1,137 and $1,336 for the three months ended June 30, 2014 and 2013, respectively. Of these amounts, $0 and $(2) were related to the Long-Term Cash Incentive Plan “Phantom Shares” discussed in Note 12 for the three months ended June 30, 2014 and 2013, respectively.  For the six months ended June 30, 2014 and 2013, total compensation expense recognized in the condensed consolidated statements of operations for share-based compensation arrangements was $2,300 and $2,723, respectively. Of these amounts, $0 and $154 for the six months ended June 30, 2014 and 2013, respectively, were related to the Long-Term Cash Incentive Plan "Phantom Shares" discussed in Note 12. 

 

Long Term Cash Incentive Plan [Member]
 
Share-Based Compensation

(12) Employee Benefit Plans

 

Long-Term Cash Incentive Plan

 

In March 2009, the Company adopted the Stoneridge, Inc. Long-Term Cash Incentive Plan (“LTCIP”) and granted awards to certain officers and key employees. In May 2009, the LTCIP was approved by the Company's shareholders.

 

The Company granted awards under the LTCIP in 2013 which provided recipients with the right to receive an amount of cash equal to the fair market value of a specific number of Phantom Shares three years from the date of grant depending on the Company's actual earnings per share performance for each fiscal year of 2013, 2014, and 2015 within the performance period. The Company records a liability for awards to be paid in the period earned based on anticipated achievement of the performance goal. If the participant voluntarily terminates employment or is discharged for cause, as defined in the LTCIP, the award is forfeited. There was no accrual recorded related to the LTCIP at June 30, 2014 for the 2013 or 2014 performance periods.