Stock-Based Compensation

STOCK-BASED COMPENSATION

We recognize the cost of employee compensation received in the form of equity instruments based on the grant date fair value of those awards. The table below sets forth the total amount of stock-based compensation expense for the six months and quarter ended June 30, 2017 and 2016.



	Quarter Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
	(Thousands of dollars)
Stock-based compensation expense:
Time-based restricted stock units	$	556	$	597	$	1,111	$	1,216
Performance-based restricted stock units	705		809		705		1,680
Total stock-based compensation expense	$	1,261	$	1,406	$	1,816	$	2,896

During the quarter and six months ended June 30, 2017, 417,266 and 447,477 time-based restricted units, respectively, were awarded to managerial employees and 365,539 performance-based restricted units were awarded to managerial employees.

During the quarter and six months ended June 30, 2016, 14,288 time-based restricted units were awarded to managerial employees and 5,102 and 308,163 performance-based restricted units were awarded to managerial employees, respectively.

- 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.

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