Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation

v3.20.2
Share-based Compensation
9 Months Ended
Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-based Compensation

NOTE 13 – SHARE-BASED COMPENSATION

Share-based compensation expense consisted of the following (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

Restricted stock

 

$

819

 

 

$

1,937

 

 

$

3,832

 

 

$

4,788

 

 

Unrestricted stock

 

 

-

 

 

 

104

 

 

 

-

 

 

 

312

 

 

Stock options

 

 

218

 

 

 

265

 

 

 

687

 

 

 

572

 

 

Total

 

$

1,037

 

(1)

$

2,306

 

(2)

$

4,519

 

(3)

$

5,672

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) ($97) was presented as part of cost of services and $1,134 was presented as part of selling, general and administrative expenses in the condensed consolidated statement of operations.

(2) $757 was presented as part of cost of services and $1,549 was presented as part of selling, general and administrative expenses in the condensed consolidated statement of operations.

(3) $1,106 was presented as part of cost of services and $3,413 was presented as part of selling, general and administrative expenses in the condensed consolidated statement of operations.

(4) $1,835 was presented as part of cost of services and $3,837 was presented as part of selling, general and administrative expenses in the condensed consolidated statement of operations.

 

Restricted Stock

The following table summarizes the restricted stock activity for the nine months ended September 30, 2020:

 

 

 

 

 

 

 

Weighted-

average

 

 

 

Unvested shares

 

 

grant-date

fair value per

share

 

Non-vested restricted stock as of December 31, 2019

 

 

2,723,637

 

 

$

8.87

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

(690,237

)

 

 

8.87

 

Forfeited

 

 

(541,239

)

 

 

8.85

 

Non-vested restricted stock as of September 30, 2020

 

 

1,492,161

 

 

$

8.88

 

 

Stock Options

The following table summarizes the stock option activity for the nine months ended September 30, 2020:

 

 

 

Number of

shares

 

 

Weighted

average

exercise price

(per share

data)

 

 

Weighted

Average

Remaining

Contractual

Life (years)

 

Outstanding as of December 31, 2019

 

 

1,068,162

 

 

$

8.91

 

 

 

6.21

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited/Expired

 

 

(190,896

)

 

 

8.91

 

 

 

-

 

Outstanding as of September 30, 2020

 

 

877,266

 

 

$

8.91

 

 

 

5.46

 

Exercisable as of September 30, 2020

 

 

219,317

 

 

$

8.91

 

 

 

5.46

 

 

As of September 30, 2020, total unrecognized compensation cost related to stock-based compensation grants under the LTIP was $10.7 million. We expect to recognize these costs over a weighted average period of 2.4 years.