XML 64 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation Expense and Related Income Tax Benefit

Stock-based compensation expense by statement of operations caption and the related income tax benefit were as follows: 

			Year Ended December 31,
(In thousands)			2024						2023						2022
Cost of sales			$	106					$	125					$	155
Research and development expenses			769						1,098						1,342
Selling, general and administrative expenses:
Employees			5,379						6,980						7,257
Outside directors			446						606						1,259
Total employee and director stock-based compensation expense			$	6,700					$	8,809					$	10,013
Income tax benefit			$	1,026					$	1,369					$	1,660

Non-Vested Restricted Stock Awards Activity

Non-vested restricted stock award activity was as follows:

			2024												2023												2022
			Shares (in 000's)						Weighted-Average Grant Date Fair Value						Shares (in 000's)						Weighted-Average Grant Date Fair Value						Shares (in 000's)						Weighted-Average Grant Date Fair Value
Non-vested at beginning of the year			486						$	21.66					376						$	36.82					310						$	44.41
Granted			391						10.55						340						14.15						262						31.05
Vested			(264)						24.85						(211)						35.77						(191)						41.09
Forfeited			(18)						17.40						(19)						17.72						(5)						43.22
Non-vested at end of the year			595						$	13.07					486						$	21.66					376						$	36.82

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

Non-vested performance stock award activity was as follows:

			Shares (in 000s)						Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2023			—						$	—
Granted			116						4.72
Vested			—						—
Forfeited			—						—
Non-vested at December 31, 2024			116						$	4.72

The assumptions we utilized in the Monte Carlo simulation model and the resulting weighted average fair value of performance stock grants were the following:

			Year Ended December 31,
			2024
Weighted average fair value of grants			$	4.72
Risk-free interest rate			4.08		%
Expected volatility			57.00		%
Expected life in years			2.73

Detailed information regarding our active Stock Incentive Plans was as follows at December 31, 2024:

Name						Approval Date						Total Shares Available for Grant Under the Plan						Remaining Shares Available for Grant Under the Plan						Outstanding Shares Granted Under the Plan
2014 Stock Incentive Plan						6/12/2014						1,100,000						—						87,660
Amended and Restated 2018 Equity and Incentive Compensation Plan (1)						6/11/2024						3,391,794						970,387						1,402,148
																		970,387						1,489,808

(1)The 2018 Equity and Incentive Compensation Plan, as amended on June 8, 2021, was amended and restated on June 11, 2024 to create the Amended and Restated 2018 Equity and Incentive Compensation Plan which added an additional 1,000,000 shares.

Stock Option Activity

Stock option activity was as follows:

			2024																								2023																								2022
			Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)						Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)						Number of Options (in 000's)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in 000's)
Outstanding at beginning of the year			901						$	38.78																	782						$	44.16																	800						$	45.55
Granted			—						—																		235						24.77																		139						33.42
Exercised			—						—												$	—					—						—												$	—					(80)						19.25												$	292
Forfeited/canceled/expired			(122)						58.52																		(116)						46.59																		(77)						64.81
Outstanding at end of the year (1)			779						$	35.67					3.12						$	—					901						$	38.78					3.67						$	—					782						$	44.16					3.45						$	—
Vested and expected to vest at the end of the year (1)			779						$	35.67					3.12						$	—					901						$	38.78					3.67						$	—					782						$	44.16					3.45						$	—
Exercisable at the end of the year (1)			673						$	37.24					2.79						$	—					620						$	44.06					2.60						$	—					600						$	45.77					2.61						$	—

(1)The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of 2024, 2023 and 2022 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on December 31, 2024, 2023 and 2022. This amount will change based on the fair market value of our stock.

Schedule of Weighted Average Fair Value of Stock Option Grants

The assumptions we utilized in the Black-Scholes option pricing model and the resulting weighted average fair value of stock option grants were the following:

			Year Ended December 31,
			2024						2023						2022
Weighted average fair value of grants			$	—					$	10.83					$	14.51
Risk-free interest rate			—		%				3.86		%				1.93		%
Expected volatility			—		%				45.89		%				49.35		%
Expected life in years			0.00						4.70						4.73

Significant Option Groups Outstanding and Related Weighted Average Exercise Price and Life Information

Significant option groups outstanding at December 31, 2024 and the related weighted average exercise price and life information were as follows:

						Options Outstanding																		Options Exercisable
Range of Exercise Prices						Number Outstanding (in 000's)						Weighted-Average Remaining  Contractual Term (in years)						Weighted-Average Exercise Price						Number Exercisable (in 000's)						Weighted-Average Exercise Price
$24.77 to $34.56						497						3.78						$	27.69					391						$	28.23
$44.95 to $46.17						188						1.18						45.60						188						45.60
$52.85 to $59.43						94						3.48						58.03						94						58.03
						779						3.12						$	35.67					673						$	37.24

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 share-based payment arrangement.

+ References

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

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

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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 option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
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 the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

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

+ Details

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

X

- Definition

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

+ References

No definition available.

+ Details

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