Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.10.0.1
Stock-Based Compensation
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
The Company granted the following stock-based awards:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Stock options
3,500

 
30,000

 
544,000

 
165,000

Restricted stock awards and restricted stock units

 

 
180,000

 
212,500

Performance stock units

 

 
168,500

 
166,149


The stock options, restricted stock awards and performance stock units granted during the three and nine months ended September 30, 2018 and 2017 were granted under the Company's Second Amended and Restated 2007 Stock Incentive Plan (the "2007 Plan"), a shareholder approved plan. Of the 166,149 performance stock units granted in connection with the Company's 2017 short-term incentive plan ("2017 Incentive Plan"), 116,168 vested during the three months ended March 31, 2018. In settlement of the performance stock units, during the three months ended March 31, 2018, the Company issued 25,726 shares, which is equal to the number of performance stock units vested multiplied by the weighted percentage achievement of the performance goals for the 2017 Incentive Plan of approximately 22.1%.
During the nine months ended September 30, 2018, the Company’s shareholders approved an amendment to the 2007 Plan to increase the number of shares authorized under the plan by 500,000 to a total of 3,230,320 shares.
The Company recognized the following expense related to its share-based payment arrangements (in thousands):
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2018
 
2017
 
2018
 
2017
Stock-based compensation cost, before income tax benefit:
 
 

 
 

 
 

 
 

Stock options
 
$
105

 
$
121

 
$
225

 
$
365

Restricted stock awards and restricted stock units
 
140

 
186

 
458

 
605

Performance stock units
 
84

 

 
84

 
120

Total stock-based compensation
 
$
329

 
$
307

 
$
767

 
$
1,090

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2018
 
2017
 
2018
 
2017
Stock-based compensation cost included in:
 
 

 
 

 
 

 
 

Cost of revenues
 
$
8

 
$
(3
)
 
$
26

 
$
29

Operating expenses
 
321

 
310

 
741

 
1,061

Total stock-based compensation
 
$
329

 
$
307

 
$
767

 
$
1,090