XML 42 R32.htm IDEA: XBRL DOCUMENT v3.24.1.u1

STOCK COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2024 is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value (in thousands)
Options outstanding, January 1, 2024			999,500						$	13.31
Grants			50,000						9.76
Expirations			(100,000)						18.04
Options outstanding, March 31, 2024			949,500						12.63						4.6						$	742
Options exercisable, March 31, 2024			806,875						$	13.21					3.8						$	506
Total unrecognized stock option expense remaining (in thousands)			$	556
Weighted-average years expected to be recognized over			1.9

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2024 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2024			597,528						$	8.44
Grants			219,975						9.76
Vested			(140,060)						10.67
Cancellations			(6,814)						10.39
Non-vested restricted shares, March 31, 2024			670,629						$	8.38
Total unrecognized compensation expense remaining (in thousands)			$	4,857
Weighted-average years expected to be recognized over			1.9

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2024 is as follows:

			Performance- based stock awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2024			486,972						$	10.44
Grants			219,975						9.76
Vested			(152,188)						14.18
Cancellations			(23,047)						13.54
Non-vested performance-based awards, March 31, 2024			531,712						$	8.96
Total unrecognized compensation expense remaining (in thousands)(2)			$	2,720
Weighted-average years expected to be recognized over			2.5

(1)Represents the target number of shares to be issued for each performance-based award.

(2)The performance metric for the performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.

Share-based Payment Arrangement, Cash Settled Performance Shares, Activity [Table Text Block]

A summary of the Company’s cash-settled performance-based awards activity and related information for the three months ended March 31, 2024 is as follows:

			Cash-settled performance-based awards (1)						Weighted- average fair value
Non-vested cash-settled performance-based awards, January 1, 2024			83,611						$	6.71
Cancellations			(1,107)						10.14
Non-vested cash-settled performance-based awards, March 31, 2024			82,504						$	10.48
Total unrecognized compensation expense remaining (in thousands)(2)			$	—
Weighted-average years expected to be recognized over			0.0

(1) Represents the target number of units to be settled in cash.

(2) The performance metric for the cash-settled performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.

Summary of Stock Compensation Expense

The Company recorded stock compensation expense as follows (in thousands):

			Three Months Ended March 31,
Stock Compensation Expense Components			2024						2023
Equity based stock option expense			$	50					$	129
Restricted and performance-based stock awards expense			749						737
Stock compensation expense for equity based awards			$	799					$	866
Liability based stock option expense			8						(5)
Total Stock Compensation Expense			$	807					$	861

X

- Definition

Share-based Payment Arrangement, Cash Settled Performance Shares, Activity

+ References

No definition available.

+ Details

Name:	lcut_ShareBasedPaymentArrangementCashSettledPerformanceSharesActivityTableTextBlock
Namespace Prefix:	lcut_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration