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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2019 and 2018.

		Stock-Based Compensation for the Three months ended				Stock-Based Compensation for the Nine months ended				Unamortized Stock-Based Compensation				Remaining Weighted Average Period (years)
September 30, 2019
Restricted Stock		$	1,082			$	2,751			$	6,849				2.0
Unrestricted Stock			105				300				280				0.7
Performance Based Restricted Stock			977				2,108				3,320				2.0
Total		$	2,164			$	5,159			$	10,449
September 30, 2018
Restricted Stock		$	870			$	2,427			$	5,949				2.0
Unrestricted Stock			96				289				257				0.7
Performance Based Restricted Stock			491				1,519				2,814				2.0
Total		$	1,457			$	4,235			$	9,020

Summary of Option Activity

Option activity within each plan is as follows:

		Incentive Stock Option Plans				Weighted Average Price Per Share				Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2018			384,064			$	9.10			$	9.10
Options exercised			(14,677	)			9.18				—
Balance outstanding, March 31, 2019			369,387				9.10				9.10
Options exercised			(4,313	)			8.71				—
Balance outstanding, June 30, 2019			365,074				9.10				9.10
Options exercised			(15,800	)			7.55				—
Balance outstanding, September 30, 2019			349,274			$	9.17			$	9.17

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at September 30, 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
Incentive Stock Option Plan:
$7.50			202,445				14			$	7.50				202,445			$	7.50
$11.32—$14.49			146,829				61				11.48				146,829				11.48
			349,274							$	9.17				349,274			$	9.17

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 September 30, 2019, were as follows:

As of September 30, 2019		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Months)				Intrinsic Value (thousands)
Incentive Stock Option Plan:
Outstanding			349,274			$	9.17				33			$	2,279
Exercisable			349,274			$	9.17				33			$	2,279

Performance Based Stock Options

Summary of Option Activity

Performance option activity is as follows:

		Incentive Stock Option Plans				Weighted Average Price Per Share				Exercisable 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, June 30, 2019 and September 30, 2019			134,676			$	11.49			$	11.49

Performance Incentive Stock Option Plan

Summary of Stock Options Summarized by Exercise Price

Information relating to performance stock options at September 30, 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				63			$	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 for options granted and exercisable and the weighted average remaining contractual life for performance stock options outstanding as of September 30, 2019 are as follows:

As of September 30, 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				63			$	567
Exercisable			134,676			$	11.49				63			$	567

Common Stock Grants

Summary of Non-Vested Shares

Common stock grants — A summary of non-vested shares as of, and for, the three and nine-months ended September 30, 2019 and 2018 is presented below:

		Nine Months Ended September 30, 2019								Nine Months Ended September 30, 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			297,679				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			772,718				17.77				632,660				17.41
Granted			40,522				13.34				22,308				23.66
Vested			(32,771	)			13.35				(20,313	)			22.82
Forfeited			(21,184	)			17.77				(6,424	)			17.25
Nonvested shares at June 30th			759,285				17.72				628,231				17.40
Granted			—				—				—				—
Vested			(3,685	)			17.84				(17,591	)			13.51
Forfeited			(8,595	)			17.89				(13,659	)			17.35
Nonvested shares at September 30th			747,005			$	17.72				596,981			$	17.51

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 nine months ended September 30, 2019 and 2018, respectively is presented below:

		Nine Months Ended September 30, 2019								Nine Months Ended September 30, 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				16.96				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				16.99				292,113				16.74
Granted			—				—				3,850				22.69
Forfeited			(14,022	)			17.11				(2,179	)			17.67
Nonvested shares at June 30th			357,765				16.99				293,784				16.81
Additional granted based on performance achievement			800				17.50				4,036				13.53
Vested			(1,700	)			17.28				(8,232	)			13.47
Forfeited			(100	)			13.70				(1,870	)			15.67
Nonvested shares at September 30th			356,765			$	16.99				287,718			$	16.87

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