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Shared-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Components of Share-Based Compensation Expense by Type of Award

The following table lists the components of share-based compensation expense by type of award.

		Three Months Ended March 31,
		2018				2017
Stock options		$	205			$	381
Restricted stock			460				460
Performance share units			591				311
Share-based compensation		$	1,256			$	1,152

Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant and Stock Option Modification

The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in 2018.

		2018 Stock Option Awards
Expected term			6 years
Risk free interest rate			2.65	%
Dividend yield			1.14	%
Expected volatility			47.78	%
Expected forfeiture rate			4.00	%

Reconciliation of Option Activity

The following table summarizes option activity for the three months ended March 31, 2018.

Options		Shares (in thousands)				Weighted- Average Exercise Price (per share)				Weighted- Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Outstanding at January 1, 2018			746			$	14.33
Granted			55				24.55
Exercised			(23	)			10.00							$	238
Outstanding at March 31, 2018			778			$	15.19				6.4			$	6,850	(1)
Exercisable at March 31, 2018			619			$	13.44				5.7			$	6,539	(1)

(1) The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at March 31, 2018.

Reconciliation of Restricted Stock Option Activity

The following table summarizes the status of unvested restricted stock awards as of March 31, 2018, and changes during the three months then ended.

		Nonvested Restricted Shares (in thousands)				Weighted Average Grant-Date Fair Value (per share)
Nonvested at January 1, 2018			152			$	19.21
Granted			87			$	24.55
Vested			(80	)		$	18.88
Nonvested at March 31, 2018			159			$	22.30

Schedule of Performance Based Awards Goals with Respect to TSR and ROIC

The following table presents the goals with respect to TSR and ROIC for each award granted in 2018.

TSR:

Threshold Performance (50% of Shares)

Target Performance (100% of Shares)

Maximum Performance (150% of Shares)

2018 grants

35th Percentile

50th Percentile

75th Percentile

ROIC:

Threshold Performance (35% of Shares)

Target Performance (100% of Shares)

Maximum Performance (150% of Shares)

2018 grants

15.5%

18%

19.5%

Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods

The following table presents the number of awards granted and the grant date fair value of each award in the periods presented.

		TSR Awards								ROIC Awards
Award Year		Shares (in thousands)				Grant Date Fair Value (per share)				Shares (in thousands)				Grant Date Fair Value (per share)
2018			55			$	24.65				55			$	24.55

Summary of Status of Unvested PSU Awards

The following table summarizes the status of unvested PSU awards as of March 31, 2018, and changes during the period then ended.

		Nonvested TSR Awards								Nonvested ROIC Awards
		Shares (in thousands)				Weighted Average Grant-Date Fair Value (per share)				Shares (in thousands)				Weighted Average Grant-Date Fair Value (per share)
Nonvested at January 1, 2018			130			$	16.60				136			$	16.27
Granted			55			$	24.65				55			$	24.55
Forfeited			(11	)		$	15.12				(12	)		$	15.49
Nonvested at March 31, 2018			174			$	18.90				179			$	18.63

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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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-Publisher FASB
-Name Accounting Standards Codification
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