Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Stock-Based Compensation (Tables)

v3.19.3.a.u2
Stock-Based Compensation Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Stock-Based Compensation [Abstract]  
Share-based Compensation Options Activity
The following table summarizes the activity of common stock options for the period from December 31, 2016 through the year ended December 31, 2019:
 
 
Number of Options
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2016
 
1,798,438

 
$
7.96

 

 

Granted
 
1,051,496

 
$
13.70

 

 

Exercised
 
(32,366
)
 
$
8.04

 
 
 

Forfeited
 
(102,398
)
 
$
7.98

 
 
 

Outstanding at December 31, 2017
 
2,715,170

 
$
10.18

 

 

Granted
 
241,316

 
$
17.50

 
 
 
 
Exercised
 
(15,332
)
 
$
8.51

 
 
 
 
Outstanding at December 31, 2018
 
2,941,154

 
$
10.79

 
 
 
 
Exercised
 
(492,498
)
 
$
8.07

 
 
 
 
Forfeited
 
(74,299
)
 
$
8.16

 
 
 
 
Outstanding at December 31, 2019
 
2,374,357

 
$
11.44

 
6.77
 
$
13,355

Exercisable at December 31, 2019
 
1,533,650

 
$
11.84

 
7.02
 
$
7,993

 
 
 
 
 
 
 
 
 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair values of PQ Group Holdings common stock options granted during the years ended December 31, 2018 and 2017 were determined on the respective grant dates using a Black-Scholes option pricing model with the following weighted-average assumptions:
 
 
2018
 
2017
Expected term (in years)
 
5.75

 
5.85

Expected volatility
 
26.38
%
 
34.85
%
Risk-free interest rate
 
2.86
%
 
2.00
%
Expected dividend yield
 
0.00
%
 
0.00
%
Weighted average grant date fair value of options granted
 
$
5.47

 
$
4.71

 
 
 
 
 

Schedule of Nonvested Restricted Stock Awards, Restricted Stock Units and Performance Stock Unit Activity
The following table summarizes the activity of restricted stock awards, restricted stock units and performance stock units for the period from December 31, 2016 through the year ended December 31, 2019:
 
 
Restricted Stock Awards
 
Restricted Stock Units
 
Performance Stock Units
 
 
Number of
Shares
 
Weighted Average Grant Date Fair Value (per share)
 
Number of
Units
 
Weighted Average Grant Date Fair Value (per share)
 
Number of
Units
 
Weighted Average Grant Date Fair Value (per share)
Nonvested as of December 31, 2016
 
2,482,932

 
$
9.34

 
—

 
$
—

 
—

 
$
—

Granted
 
51,907

 
$
16.11

 
1,654,690

 
$
16.97

 
—

 
$
—

Vested
 
(187,837
)
 
$
12.84

 
—

 
$
—

 
—

 
$
—

Forfeited
 
(250,365
)
 
$
12.03

 
—

 
$
—

 
—

 
$
—

Nonvested as of December 31, 2017
 
2,096,637

 
$
8.87

 
1,654,690

 
$
16.97

 
—

 
$
—

Granted
 
14,498

 
$
13.80

 
161,598

 
$
16.12

 
—

 
$
—

Vested
 
(223,298
)
 
$
12.18

 
(797,859
)
 
$
16.97

 
—

 
$
—

Forfeited
 
(117,177
)
 
$
8.04

 
(19,643
)
 
$
16.97

 
—

 
$
—

Nonvested as of December 31, 2018
 
1,770,660

 
$
8.39

 
998,786

 
$
16.83

 
—

 
$
—

Granted
 
—

 
$
—

 
1,245,628

 
$
15.42

 
550,676

 
$
15.41

Vested
 
(97,140
)
 
$
12.32

 
(541,383
)
 
$
16.68

 
—

 
$
—

Forfeited
 
(127,390
)
 
$
8.04

 
(74,595
)
 
$
16.09

 
—

 
$
—

Nonvested as of December 31, 2019
 
1,546,130

 
$
8.17

 
1,628,436

 
$
15.83

 
550,676

 
$
15.41