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Shared-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2021
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 March 31, |  |
|  | 2021 |  | 2020 |  |  |  |  |  |
Stock options |  | $ | 89 |  |  | $ | 181 |  |  |  |  |  |  |
Restricted stock |  | 548 |  |  | 892 |  |  |  |  |  |  |
Performance share units |  | 249 |  |  | 223 |  |  |  |  |  |  |
Share-based compensation expense |  | $ | 886 |  |  | $ | 1,296 |  |  |  |  |  |  |
Reconciliation of Option Activity | The following table presents stock option activity for the three months ended March 31, 2021.
|  | Number of Options (in thousands) |  | Weighted- Average Exercise Price (per share) |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  |
Outstanding at January 1, 2021 |  | 871 |  |  | $ | 12.41 |  |  |  |  |  |  |
Forfeited or expired |  | (24) |  |  | 13.41 |  |  |  |  |  |  |
Outstanding at March 31, 2021 |  | 847 |  |  | $ | 12.38 |  |  | 3.7 years |  | $ | — |  |  | (1)
Exercisable at March 31, 2021 |  | 751 |  |  | $ | 12.83 |  |  | 3.0 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 March 31, 2021, 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 March 31, 2021, and changes during the three months then ended.
|  | Nonvested Restricted Shares (in thousands) |  | Weighted Average Grant-Date Fair Value (per share)
Unvested at January 1, 2021 |  | 385 |  |  | $ | 9.42 |
Granted |  | 425 |  |  | 6.79 |
Vested |  | (284) |  |  | 9.50 |
Forfeited |  | (12) |  |  | 7.76 |
Unvested at March 31, 2021 |  | 514 |  |  | $ | 7.24 |
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 or modified in 2021.
TSR Awards: |  | Threshold Performance (50% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2021 grants |  | 35th Percentile |  | 50th Percentile |  | 75th Percentile
ROIC Awards: |  | Threshold Performance (50% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2021 grants |  | 6.3% |  | 7.0% |  | 8.6%
2020 grants (1) |  | 6.7% |  | 7.9% |  | 8.7%
_______________________________ (1)The performance levels for 2020 grants were modified by the compensation committee of the board of directors in the first quarter of 2021 to adjust for the sale of the Life Sciences business and the ongoing effects of the COVID-19 pandemic.
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)
2021 |  | 142 |  | $8.58 |  | 172 |  | $7.20
Summary of Status of Unvested PSU Awards | The following table presents the status of unvested PSUs as of March 31, 2021, and changes during the three 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, 2021 |  | 138 |  |  | $ | 10.58 |  |  | 160 |  |  | $ | 9.13 |
Granted |  | 142 |  |  | 8.58 |  |  | 172 |  |  | 7.20 |
Nonvested at March 31, 2021 |  | 280 |  |  | $ | 9.56 |  |  | 332 |  |  | $ | 8.13 |

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