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Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period

The following tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three months ended March 31, 2019 and 2018.

		Stock-Based Compensation for the Three months ended				Unamortized Stock-Based Compensation				Remaining Weighted Average Period (years)
March 31, 2019
Restricted Stock		$	688			$	9,238				2.4
Unrestricted Stock			96				64				0.2
Performance Based Restricted Stock			701				4,524				2.4
Total		$	1,485			$	13,826
March 31, 2018
Restricted Stock		$	666			$	7,956				2.0
Unrestricted Stock			96				64				0.2
Performance Based Restricted Stock			547				3,562				2.4
Total		$	1,309			$	11,582

Summary of Option Activity

Option activity within each plan is as follows:

		Incentive Stock Option Plans				Weighted Average Price Per Share
Balance outstanding, December 31, 2018			384,064			$	9.10
Options exercised			(14,677	)			9.18
Balance outstanding, March 31, 2019			369,387			$	9.10

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at March 31, 2019, summarized by exercise price is as follows:

		Outstanding Weighted Average
Exercise Price Per Share		Shares				Remaining Life (Months)				Exercise Price
Incentive Stock Option Plan:
$7.50			221,045				20			$	7.5
$11.32—$14.49			148,342				67			$	11.49
			369,387							$	9.10

Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted, and exercisable, and the weighted average remaining contractual life for options outstanding as of March 31, 2019, were as follows:

As of March 31, 2019		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Months)				Intrinsic Value (thousands)
Incentive Stock Option Plan:
Outstanding			369,387			$	9.10				39			$	3,000
Expected to Vest			369,387			$	9.10				39			$	3,000
Exercisable			369,387			$	9.10				39			$	3,000

Performance Based Stock Options

Summary of Option Activity

Performance option activity is as follows:

		Incentive Stock Option Plans				Weighted Average Price Per Share				Execisable Weighted Average Price Per Share
Balance outstanding, December 31, 2018			140,411			$	11.49			$	11.49
Options exercised			(5,735	)			11.49				11.49
Balance outstanding, March 31, 2019			134,676			$	11.49			$	11.49

Performance Incentive Stock Option Plan

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at March 31, 2019 summarized by exercise price is as follows:

		Outstanding Weighted Average												Exercisable Weighted Average
Exercise Price Per Share		Shares				Remaining Life (Months)				Exercise Price				Shares				Exercise Price
Performance Incentive Stock Option Plan:			134,676				69			$	11.49				134,676			$	11.49

Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices of options granted and exercisable and the weighted average remaining contractual life for options outstanding as of March 31, 2019 are as follows:

As of March 31, 2019		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Months)				Intrinsic Value (thousands)
Performance Incentive Stock Option Plan:
Outstanding			134,676			$	11.49				69			$	772
Expected to Vest			134,676			$	11.49				69			$	772
Exercisable			134,676			$	11.49				69			$	772

Common Stock Grants

Summary of Non-Vested Shares

Common stock grants — A summary of non-vested shares as of and for the three months ended March 31, 2019 and 2018 is presented below:

		Three Months Ended March 31, 2019								Three Months Ended March 31, 2018
		Number of Shares				Weighted Average Grant Date Fair Value				Number of Shares				Weighted Average Grant Date Fair Value
Nonvested shares at December 31st			587,210			$	17.59				391,753			$	15.61
Granted			290,679				17.34				254,972				19.97
Vested			(105,582	)			15.21				(8,800	)			12.07
Forfeited			(6,589	)			17.69				(5,265	)			16.51
Nonvested shares at March 31st			765,718			$	17.77				632,660			$	17.41

Performance Based Restricted Shares

Summary of Non-Vested Shares

Performance Based Shares—A summary of non-vested performance based shares as of and for the three months ended March 31, 2019 and 2018, respectively is presented below:

		Three Months Ended March 31, 2019								Three Months Ended March 31, 2018
		Number of Shares				Weighted Average Grant Date Fair Value				Number of Shares				Weighted Average Grant Date Fair Value
Nonvested shares at December 31st			287,077			$	16.87				186,057			$	14.93
Granted			137,557				16.47				122,446				18.79
Additional granted based on performance achievement			41,568				12.88				—				—
Vested			(90,872	)			14.73				(14,625	)			11.01
Forfeited			(3,543	)			15.98				(1,765	)			15.40
Nonvested shares at March 31st			371,787			$	16.81				292,113			$	16.74

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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