Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.19.3
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Unrecognized Share-Based Compensation Expense
As of September 30, 2019, unrecognized share-based compensation expense was as follows:
 
Unrecognized
Expense
 
Average Expected
Recognition
Period
 
(in thousands)
 
 
Restricted stock awards
$
5,329

 
2.1 years

Summary of Stock Options Outstanding under Plans
The table below provides stock option information for the three months ended September 30, 2019:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price Per
Share
 
Weighted-
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value of
In-the-
Money
Options
 
 
 
 
 
 
 
 
(in thousands)
 
Options outstanding at beginning of period
336,438

 
$
17.55

 
4.4 years
 
$
1,162

(1) 
Options exercised
(180,000
)
 
$
16.43

 
4.2 years
 
754

 
Options outstanding at end of period
156,438

 
$
18.84

 
4.4 years
 
$
407

(2) 
 
 
 
 
 
 
 
 
 
Options exercisable at end of period
156,438

 
$
18.84

 
4.4 years
 
$
407

(2) 

(1) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $22.27 as of June 30, 2019, over the exercise price, multiplied by the number of options.
(2) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $18.78 as of September 30, 2019, over the exercise price, multiplied by the number of options.

The table below provides stock option information for the nine months ended September 30, 2019:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price Per
Share
 
Weighted-
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value of
In-the-
Money
Options
 
 
 
 
 
 
 
 
(in thousands)
 
Options outstanding at beginning of period
338,338

 
$
17.52

 
4.6 years
 
$
1,356

(1) 
Options exercised
(181,900
)
 
$
16.38

 
4.6 years
 
604

 
Options outstanding at end of period
156,438

 
$
18.84

 
4.4 years
 
$
407

(2) 
 
 
 
 
 
 
 
 
 
Options exercisable at end of period
156,438

 
$
18.84

 
4.4 years
 
$
407

(2) 

(1) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $19.70 as of December 31, 2018, over the exercise price, multiplied by the number of options.
(2) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $18.78 as of September 30, 2019, over the exercise price, multiplied by the number of options.
Schedule of Restricted Stock Awards
The table below provides information for restricted stock awards for the period indicated:
 
Three Months Ended 
September 30, 2019
 
Nine Months Ended 
September 30, 2019
 
Number of
Shares
 
Weighted-
Average
Grant Date
Fair Value
Per Share
 
Number of
Shares
 
Weighted-
Average
Grant Date
Fair Value
Per Share
Restricted stock at beginning of period
286,199

 
$
23.19

 
304,595

 
$
21.98

Restricted stock granted
20,914

 
$
22.09

 
172,609

 
22.17

Restricted stock vested
(4,105
)
 
$
25.60

 
(90,064
)
 
27.99

Restricted stock forfeited
(1,044
)
 
$
23.29

 
(85,176
)
 
11.74

Restricted stock at end of period
301,964

 
$
23.07

 
301,964

 
23.07