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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expense Related to Stock Options, Performance Stock Units (PSUs), Restricted Stock Units (RSUs) and Restricted Stock

The following table summarizes stock-based compensation expense related to stock options, performance stock units (PSUs), restricted stock units (RSUs) and restricted stock for the three and six months ended June 30, 2019 and 2018:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Stock-based compensation expense included in cost of sales

 

$

85

 

 

$

102

 

 

$

189

 

 

$

197

 

Selling, general and administrative expense

 

 

662

 

 

 

995

 

 

 

1,725

 

 

 

2,030

 

Research and development expense

 

 

707

 

 

 

687

 

 

 

1,399

 

 

 

1,376

 

Stock-based compensation expense included in operating expenses

 

 

1,369

 

 

 

1,682

 

 

 

3,124

 

 

 

3,406

 

Total stock-based compensation expense

 

 

1,454

 

 

 

1,784

 

 

 

3,313

 

 

 

3,603

 

Tax benefit for expense associated with stock options, PSUs, RSUs and restricted stock

 

 

(332

)

 

 

(340

)

 

 

(775

)

 

 

(724

)

Total stock-based compensation expense, net of tax

 

$

1,122

 

 

$

1,444

 

 

$

2,538

 

 

$

2,879

 

Summary of Stock Options Outstanding

The following table is a summary of our stock options outstanding as of December 31, 2018 and June 30, 2019, and the changes that occurred during the six months ended June 30, 2019:

 

 

 

Number of

Stock Options

(in thousands)

 

 

Weighted Avg.

Exercise Price

(per share)

 

 

Weighted Avg.

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Stock options outstanding, December 31, 2018

 

 

4,382

 

 

$

22.91

 

 

 

4.10

 

 

$

 

Stock options exercised

 

 

(34

)

 

$

15.53

 

 

 

 

 

 

 

 

 

Stock options forfeited

 

 

(10

)

 

$

15.67

 

 

 

 

 

 

 

 

 

Stock options expired

 

 

(156

)

 

$

24.50

 

 

 

 

 

 

 

 

 

Stock options outstanding, June 30, 2019

 

 

4,182

 

 

$

22.93

 

 

 

3.64

 

 

$

 

Stock options exercisable, June 30, 2019

 

 

3,942

 

 

$

23.39

 

 

 

3.47

 

 

$

 

Summary of PSUs, RSUs and Restricted Stock Outstanding

The following table is a summary of our PSUs, RSUs and restricted stock outstanding as of December 31, 2018 and June 30, 2019 and the changes that occurred during the six months ended June 30, 2019:

 

 

 

Number of

Shares

(in thousands)

 

 

Weighted Avg. Grant Date Fair Value

(per share)

 

Unvested PSUs, RSUs and restricted stock outstanding, December 31, 2018

 

 

1,570

 

 

$

18.52

 

PSUs, RSUs and restricted stock granted

 

 

59

 

 

$

12.54

 

PSUs, RSUs and restricted stock vested

 

 

(1

)

 

$

18.86

 

PSUs, RSUs and restricted stock forfeited

 

 

(63

)

 

$

16.66

 

Unvested PSUs, RSUs and restricted stock outstanding, June 30, 2019

 

 

1,565

 

 

$

18.37