| Summary of Nonvested (Restricted) Shares and Units Activity |
In addition to the stock options discussed above, we grant time-based and performance-based restricted shares or units. Performance-based restricted shares are only granted to executive officers. All performance shares only vest upon the attainment of certain financial and operational criteria as established and approved by our Board of Directors.
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Nonvested
Restricted Share
Activity
(time-based)
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Nonvested
Restricted
Share Activity
(performance-
based)
|
|
Weighted
Average
Grant Date
Fair Value
|
Outstanding at January 1, 2016 |
|
883,707 |
|
|
$ |
40.75 |
|
|
180,770 |
|
|
$ |
42.93 |
|
Granted |
|
499,865 |
|
|
31.60 |
|
|
66,698 |
|
|
34.39 |
|
Vested (Earned/Released) |
|
(305,359 |
) |
|
30.87 |
|
|
(41,665 |
) |
|
31.02 |
|
Forfeited (1) |
|
(115,910 |
) |
|
36.79 |
|
|
(20,835 |
) |
|
42.56 |
|
Outstanding as of December 31, 2016 |
|
962,303 |
|
|
37.00 |
|
|
184,968 |
|
|
34.84 |
|
Granted |
|
430,575 |
|
|
34.45 |
|
|
154,120 |
|
|
34.10 |
|
Vested (Earned/Released) |
|
(279,856 |
) |
|
38.39 |
|
|
(20,367 |
) |
|
45.60 |
|
Forfeited (1) |
|
(130,370 |
) |
|
35.09 |
|
|
(31,716 |
) |
|
45.60 |
|
Outstanding at December 31, 2017 |
|
982,652 |
|
|
35.59 |
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|
287,005 |
|
|
35.80 |
|
Granted |
|
315,247 |
|
|
46.07 |
|
|
157,637 |
|
|
45.20 |
|
Vested (Earned/Released) |
|
(288,709 |
) |
|
37.93 |
|
|
(36,801 |
) |
|
41.17 |
|
Forfeited (1) |
|
(85,900 |
) |
|
37.53 |
|
|
(29,386 |
) |
|
41.17 |
|
Outstanding at December 31, 2018 |
|
923,290 |
|
|
$ |
38.25 |
|
|
378,455 |
|
|
$ |
38.77 |
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|
(1) |
Forfeitures on time-based nonvested shares are a result of terminations of employment, while forfeitures on performance-based nonvested shares are a result of failing to attain certain goals as outlined in our executive officers' compensation agreements. |
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| Summary of Additional Information Regarding Stock Plan |
The following table includes additional information regarding our Plan (dollars in thousands):
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At December 31, |
|
|
2018 |
|
2017 |
Unrecognized stock-based compensation cost |
|
$ |
24,954 |
|
|
$ |
18,439 |
|
Weighted average years expense recognition period |
|
2.24 |
|
|
2.48 |
|
Total equity awards outstanding |
|
1,301,745 |
|
|
1,269,657 |
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