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STOCK COMPENSATION | 3 Months Ended
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Mar. 31, 2019
STOCK COMPENSATION | NOTE I — STOCK COMPENSATION Option Awards A summary of the Company’s stock option activity and related information for the three months ended March 31, 2019 is as follows:
|  |  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  | Weighted- |  |  | average |  |  |  |
|  |  |  |  | average |  |  | remaining |  |  |  |
|  |  |  |  | exercise |  |  | contractual |  |  | Aggregate |
|  | Options |  |  | price |  |  | life (years) |  |  | intrinsic value |
Options outstanding, January 1, 2019 |  |  | 1,548,825 |  |  | $ | 13.87 |  |  |  |  |  |  |  |  |
Exercises |  |  | (25,000 | ) |  |  | 2.19 |  |  |  |  |  |  |  |  |
Cancellations |  |  | (4,500 | ) |  |  | 13.05 |  |  |  |  |  |  |  |  |
Expirations |  |  | (31,000 | ) |  |  | 16.53 |  |  |  |  |  |  |  |  |
Options outstanding, March 31, 2019 |  |  | 1,488,325 |  |  |  | 14.01 |  |  |  | 3.8 |  |  | $ | 219,700 |
Options exercisable, March 31, 2019 |  |  | 1,273,686 |  |  | $ | 13.91 |  |  |  | 3.0 |  |  | $ | 219,700 |
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2019. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 31, 2019 and the exercise price. Total unrecognized stock option compensation expense at March 31, 2019, before the effect of income taxes, was $ 0.9 million and is expected to be recognized over a weighted-average period of 1.5 years. Restricted Stock A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2019 is as follows:
|  |  |  |  | Weighted- |
|  |  |  |  | average |
|  | Restricted |  |  | grant date |
|  | Shares |  |  | fair value |
Non-vested restricted shares, January 1, 2019 |  |  | 326,545 |  |  | $ | 14.63 |
Grants |  |  | 118,250 |  |  |  | 9.40 |
Vested |  |  | (27,610 | ) |  |  | 13.64 |
Cancellations |  |  | (15,564 | ) |  |  | 14.52 |
Non-vested restricted shares, March 31, 2019 |  |  | 401,621 |  |  | $ | 13.17 |
Total unrecognized compensation expense remaining |  | $ | 3,813,000 |  |  |  |  |
Weighted-average years expected to be recognized over |  |  | 2.3 |  |  |  |  |
The total fair value of restricted stock that vested during the three months ended March 31, 2019 was $ 0.3 million. Performance-based awards Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals by the end of the performance period, as determined by the Compensation Committee. The shares are subject to the terms and conditions of the Company’s Amended and Restated 2000 Long-Term Incentive Plan (the “Plan”). A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2019 is as follows:
|  |  |  |  | Weighted- |
|  | Performance- |  |  | average |
|  | based |  |  | grant date |
|  | awards (1) |  |  | fair value |
Non-vested performance-based awards, January 1, 2019 |  |  | 339,287 |  |  | $ | 14.82 |
Vested |  |  | (66,761 | ) |  |  | 15.69 |
Cancellations |  |  | (22,517 | ) |  |  | 15.75 |
Non-vested performance-based awards, March 31, 2019 |  |  | 250,009 |  |  | $ | 14.50 |
Total unrecognized compensation expense remaining |  | $ | 1,956,000 |  |  |  |  |
Weighted-average years expected to be recognized over |  |  | 1.5 |  |  |  |  |
(1) | Represents the target number of shares to be issued for each performance-based award.
The total fair value of performance-based awards that vested during the three months ended March 31, 2019 was $ 0.6 million. The Company recognized total stock compensation expense of $ 0.9 million for the three months ended March 31, 2019, of which $ 0.1 million represents stock option compensation expense and $ 0.8 million represents restricted stock and performance-based compensation expense. The Company recognized total stock compensation expense of $0.8 million for the three months ended March 31, 2018, of which $0.2 million represents stock option compensation expense and $0.6 million represents restricted stock and performance-based compensation expense. At March 31, 2019, there were 952,329 shares available for awards that could be granted under the Plan, assuming maximum performance of performance-based awards.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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