Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.19.2
Stock-based Compensation (Tables)
3 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
On May 18, 2019, the Company granted RSUs under the 2020/2021 LTIP with a grant date fair value of $17.43 that vest as follows (amounts in thousands):
 
Shares
May 18, 2020
66

May 18, 2021
141

May 18, 2022
144

Total RSUs granted (1)
351

 __________________
(1) RSUs granted include a performance component. Therefore, the granted RSUs shown above are an estimate based upon current performance expectations. The final number of RSUs granted depends on the achievement of performance metrics.
The following is the vesting schedule of RSUs under each respective LTIP, which vested during the three months ended June 30, 2019 (shares in thousands):
 
 
2019/2020
 
2018/2019
 
2017/2018
Time-based award vested
 
53

 
58

 
156

Performance-based award vested
 

 

 


RSU activity, including performance-based and time-based LTIP activity, for the three months ended June 30, 2019 is as follows (amounts in thousands except fair value):
 
Shares
 
Weighted-
average
Fair Value on
Grant Date
Non-vested RSUs at March 31, 2019
1,415

 
$
15.19

Granted
351

 
17.43

Vested
(267
)
 
7.92

Forfeited
(8
)
 
15.32

Non-vested RSUs at June 30, 2019
1,491

 
$
17.02

Schedule of the compensation expense (recovery) associated with stock-based compensation
The compensation expense associated with stock-based compensation for the three months ended June 30, 2019 and 2018 is recorded on the Condensed Consolidated Statements of Operations as follows (amounts in thousands):
 
Three Months Ended June 30, 2019
 
Three Months Ended June 30, 2018
 
Stock 
Options
 
RSUs
 
LTIPs
 
Stock 
Options
 
RSUs
 
LTIPs
Cost of sales
$

 
$
490

 
$
384

 
$

 
$
351

 
$
238

Selling, general and administrative expenses

 
1,005

 
730

 

 
2,881

 
521

Research and development

 
34

 
82

 

 
16

 
53

Total
$

 
$
1,529

 
$
1,196

 
$

 
$
3,248

 
$
812