Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
6 Months Ended
Jun. 30, 2017
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 
 June 30,
 
Six Months Ended 
 June 30,
 
2017
 
2016
 
2017
 
2016
Stock options
10,000

 
30,000

 
135,000

 
30,000

Restricted stock awards and restricted stock units
150,000

 
120,000

 
212,500

 
120,000

Performance stock units

 

 
166,149

 


The stock options, restricted stock awards and performance stock units granted during the three and six months ended June 30, 2017 were granted under the Company's Second Amended and Restated 2007 Stock Incentive Plan (the "2007 Plan"), a shareholder approved plan. The 166,149 performance stock units were issued in connection with the Company's 2017 short-term incentive plan ("2017 Incentive Plan"). In settlement of the performance stock units, the Company will issue a number of shares equal to the number of performance stock units issued multiplied by the total percentage achievement of the performance goals for the 2017 Incentive Plan. The percentage achievement for the performance stock units may not exceed 100%.
On May 12, 2016, 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 2,730,320 shares.
The Company recognized the following expense related to its share-based payment arrangements (in thousands):
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
2017
 
2016
 
2017
 
2016
Stock-based compensation cost, before income tax benefit:
 
 

 
 

 
 

 
 

Stock options
 
$
118

 
$
156

 
$
244

 
$
304

Restricted stock awards and restricted stock units
 
210

 
233

 
419

 
436

Performance stock units
 
42

 

 
120

 

Total stock-based compensation
 
$
370

 
$
389

 
$
783

 
$
740

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
2017
 
2016
 
2017
 
2016
Stock-based compensation cost included in:
 
 

 
 

 
 

 
 

Cost of revenues
 
$
18

 
$
25

 
$
32

 
$
18

Operating expenses
 
352

 
364

 
751

 
722

Total stock-based compensation
 
$
370

 
$
389

 
$
783

 
$
740