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Shared-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [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 September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Stock options |  | $ | 132 |  |  | $ | 371 |  |  | $ | 453 |  |  | $ | 732 |
Restricted stock |  | 963 |  |  | 446 |  |  | 2,791 |  |  | 1,407 |
Performance share units |  | 340 |  |  | 334 |  |  | 898 |  |  | 991 |
Change in estimate of share-based award vesting |  | (577) |  |  | (1,275) |  |  | (577) |  |  | (1,275) |
Share-based compensation expense |  | $ | 858 |  |  | $ | (124) |  |  | $ | 3,565 |  |  | $ | 1,855 |
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 2020.
Expected term | 6 years
Risk free interest rate | 1.42 | %
Dividend yield | — | %
Expected volatility | 52.80 | %
Reconciliation of Option Activity | The following table presents stock option activity for the nine months ended September 30, 2020.
|  | Number of Options (in thousands) |  | Weighted- Average Exercise Price (per share) |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  |
Outstanding at January 1, 2020 |  | 775 |  |  | $ | 13.24 |  |  |  |  |  |  |
Granted |  | 159 |  |  | 9.44 |  |  |  |  |  |  |
Forfeited or expired |  | (60) |  |  | 15.00 |  |  |  |  |  |  |
Outstanding at September 30, 2020 |  | 874 |  |  | $ | 12.43 |  |  | 5.5 years |  | $ | — |  |  | (1)
Exercisable at September 30, 2020 |  | 589 |  |  | $ | 13.85 |  |  | 3.8 years |  | $ | — |  |  | (1)
_______________________________ (1)The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at September 30, 2020, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity | The following table presents the status of unvested restricted stock awards as of September 30, 2020, and changes during the nine months then ended.
|  | Nonvested Restricted Shares (in thousands) |  | Weighted Average Grant-Date Fair Value (per share)
Unvested at January 1, 2020 |  | 222 |  |  | $ | 9.33 |
Granted |  | 460 |  |  | 9.35 |
Vested |  | (145) |  |  | 8.61 |
Forfeited |  | (18) |  |  | 9.32 |
Unvested at September 30, 2020 |  | 519 |  |  | $ | 9.28 |
Schedule of Performance Based Awards Goals with Respect to TSR and ROIC | The following table presents the goals with respect to TSR Awards and ROIC Awards granted in 2020.
TSR Awards: |  | Threshold Performance (50% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2020 grants |  | 35th Percentile |  | 50th Percentile |  | 75th Percentile
ROIC Awards: |  | Threshold Performance (35% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2020 grants |  | 4.9% |  | 5.1% |  | 5.6%
Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods | The following table presents the number of PSUs granted and the grant date fair value in the period 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)
2020 |  | 139 |  | $10.88 |  | 157 |  | $9.44
Summary of Status of Unvested PSU Awards | The following table presents the status of unvested PSUs as of September 30, 2020, and changes during the nine months 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, 2020 |  | 65 |  |  | $ | 13.27 |  |  | 79 |  |  | $ | 11.50 |
Granted |  | 139 |  |  | 10.88 |  |  | 157 |  |  | 9.44 |
Forfeited |  | (19) |  |  | 11.43 |  |  | (21) |  |  | 12.88 |
Nonvested at September 30, 2020 |  | 185 |  |  | $ | 11.55 |  |  | 215 |  |  | $ | 10.04 |

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