Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation Plans (Tables)

v3.20.1
Stock-Based Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Outstanding Awards Under 2013 Omnibus Equity Incentive Plan
Activity under the 2013 Plan consisted of the following (dollars in thousands, except weighted average per share data):
 
RSA Grants to
Non-employee

Directors
    
RSU Grants to
Employees
   
RSU Grants to
Independent
Contractors
   
Total
   
Weighted-
Average Grant
Date Fair Value
Per Share
 
Nonvested shares at December 31, 2019
   
17,480
     
525,115
     
257,480
     
800,075
    $
33.91
 
Granted
   
—  
      
229,315
     
20,384
     
249,699
     
36.74
 
Vested
   
—  
      
(139,152
 )    
(30,954
 )    
(170,106
 )    
31.75
 
Transferred
   
—  
      
(14,911
 )    
14,911
     
—  
      
32.26
 
Forfeited/canceled
   
—  
      
(8,087
 )    
(223
 )    
(8,310
 )    
38.19
 
                                         
Nonvested shares at March 31, 2020 
 
(1)
    
17,480
     
592,280
     
261,598
     
871,358
    $
35.10
 
Unrecognized stock-based compensation expense as of March 31, 2020 
 
(2)
   $
74
    $
20,079
    $
8,132
    $
28,285
     
 
                                         
Weighted average remaining vesting period (years) as of March 31, 2020
   
0.17
     
4.05
     
3.30
     
3.83
     
 
                                         
(1)
Nonvested RSUs will be settled through the issuance of new shares of common stock.
(2)
The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.83 years.
Schedule of Future Share Settlements
 
March 31, 2020
 
2021
   
60,373
 
2022
   
281,193
 
         
   
341,566
 
         
Stock-Based Compensation Expense
Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income and consisted of the following (in thousands):
 
Three Months Ended
March 31,
 
 
2020
   
2019
 
ESPP
  $
47
    $
30
 
RSAs –
non-employee
directors
    
160
     
170
 
RSUs – employees
 
(1)
    
1,656
     
1,345
 
RSUs – independent contractors
   
769
     
796
 
                 
  $
2,632
    $
2,341
 
                 
(1)
Includes expense related to the acceleration of vesting of certain RSUs.