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Equity Plan Awards (Tables)
12 Months Ended
Dec. 31, 2019
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, 2016

 

 

541,905

 

 

$

9.33

 

 

$

7.97

 

Options exercised

 

 

(55,979

)

 

$

8.37

 

 

 

 

 

Options forfeited

 

 

(13,143

)

 

 

11.49

 

 

 

 

 

Balance outstanding, December 31, 2017

 

 

472,783

 

 

$

9.38

 

 

$

9.38

 

Options exercised

 

 

(88,719

)

 

 

10.62

 

 

 

 

 

Balance outstanding, December 31, 2018

 

 

384,064

 

 

$

9.10

 

 

$

9.10

 

Options exercised

 

 

(51,241

)

 

 

8.87

 

 

 

 

 

Balance outstanding, December 31, 2019

 

 

332,823

 

 

$

9.14

 

 

$

9.14

 

 

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at December 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

 

Incentive Stock Option Plan:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$7.50

 

 

195,850

 

 

 

11

 

 

$

7.50

 

 

 

195,850

 

 

$

7.50

 

$11.32-$14.75

 

 

136,973

 

 

 

58

 

 

$

11.48

 

 

 

136,973

 

 

$

11.48

 

 

 

 

332,823

 

 

 

30

 

 

$

9.14

 

 

 

332,823

 

 

$

9.14

 

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 December 31, 2019 and 2018 was as follows:

 

 

 

Number

of Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life

(Months)

 

 

Intrinsic

Value

(thousands)

 

As of December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Incentive Stock Option Plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

 

332,823

 

 

$

9.14

 

 

 

30

 

 

$

3,439

 

Vested

 

 

332,823

 

 

$

9.14

 

 

 

30

 

 

$

3,439

 

Exercisable

 

 

332,823

 

 

$

9.14

 

 

 

30

 

 

$

3,439

 

As of December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Incentive Stock Option Plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

 

384,064

 

 

$

9.10

 

 

 

42

 

 

$

2,338

 

Vested

 

 

384,064

 

 

$

9.10

 

 

 

42

 

 

$

2,338

 

Exercisable

 

 

384,064

 

 

$

9.10

 

 

 

42

 

 

$

2,338

 

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, 2017

 

 

81,666

 

 

$

11.49

 

 

$

11.49

 

Additional vesting based on performance

 

 

77,598

 

 

 

11.49

 

 

 

11.49

 

Options exercised

 

 

(18,853

)

 

 

11.49

 

 

 

11.49

 

Balance outstanding, December 31, 2018

 

 

140,411

 

 

$

11.49

 

 

$

11.49

 

Options exercised

 

 

(19,629

)

 

 

11.49

 

 

 

11.49

 

Balance outstanding, December 31, 2019

 

 

120,782

 

 

$

11.49

 

 

$

11.49

 

Performance Incentive Stock Option Plan  
Summary of Stock Options Summarized by Exercise Price

Information relating to performance stock options at December 31, 2019 is 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:

 

 

120,782

 

 

 

60

 

 

$

11.49

 

 

 

120,782

 

 

$

11.49

 

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

The weighted average exercise price for performance options granted and exercisable and the weighted average remaining contractual life for performance options outstanding as of December 31, 2019 and 2018 was as follows:

 

 

 

Number

of Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life

(Months)

 

 

Intrinsic

Value

(thousands)

 

As of December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Incentive Stock Option Plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

 

120,782

 

 

$

11.49

 

 

 

60

 

 

$

964

 

Vested

 

 

120,782

 

 

$

11.49

 

 

 

60

 

 

$

964

 

Exercisable

 

 

120,782

 

 

$

11.49

 

 

 

60

 

 

$

964

 

As of December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Incentive Stock Option Plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

 

140,411

 

 

$

11.49

 

 

 

72

 

 

$

520

 

Vested

 

 

140,411

 

 

$

11.49

 

 

 

72

 

 

$

520

 

Exercisable

 

 

140,411

 

 

$

11.49

 

 

 

72

 

 

$

520

 

 

Common Stock Grants  
Summary of Non-Vested Shares

A status summary of non-vested shares as of December 31, 2019 and 2018, are presented below:

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Number

of Shares

 

 

Weighted

Average

Grant

Date Fair

Value

 

 

Number

of Shares

 

 

Weighted

Average

Grant

Date Fair

Value

 

Nonvested shares at January 1st

 

 

587,210

 

 

$

17.59

 

 

 

391,753

 

 

$

15.61

 

Granted

 

 

341,653

 

 

 

16.84

 

 

 

282,030

 

 

 

20.21

 

Vested

 

 

(148,240

)

 

 

14.99

 

 

 

(53,304

)

 

 

17.06

 

Forfeited

 

 

(60,778

)

 

 

18.12

 

 

 

(33,269

)

 

 

17.29

 

Nonvested shares at December 31st

 

 

719,845

 

 

$

17.67

 

 

 

587,210

 

 

$

17.59

 

Performance Based Restricted Shares  
Summary of Non-Vested Shares

A summary of non-vested shares as of December 31, 2019 and 2018, is presented below:

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Number

of Shares

 

 

Weighted

Average

Grant

Date Fair

Value

 

 

Number

of Shares

 

 

Weighted

Average

Grant

Date Fair

Value

 

Nonvested shares at January 1st

 

 

287,077

 

 

$

16.87

 

 

 

186,057

 

 

$

14.93

 

Granted

 

 

137,557

 

 

 

16.96

 

 

 

130,332

 

 

 

18.74

 

Additional granted based on performance achievement

 

 

42,368

 

 

 

12.97

 

 

 

 

 

 

 

Vested

 

 

(92,572

)

 

 

14.78

 

 

 

(22,857

)

 

 

11.90

 

Forfeited

 

 

(28,998

)

 

 

17.70

 

 

 

(6,455

)

 

 

16.22

 

Nonvested shares at December 31st

 

 

345,432

 

 

$

16.92

 

 

 

287,077

 

 

$

16.87