Current report filing

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
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, 2017 through the year ended December 31, 2020:
 
    
Number of
Options
     
Weighted
Average
Exercise Price
    
Weighted
Average
Remaining
Contractual
Term (in years)
     
Aggregate
Intrinsic Value

(in thousands)
  
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                   
Exercised
      (43,250 )     $ 8.64                   
Forfeited
      (157,776 )     $ 9.23                   
    
 
 
                            
Outstanding at December 31, 2020
      2,173,331      $ 9.84  (1)      5.94      $ 10,452  
    
 
 
                            
Exercisable at December 31, 2020
      1,796,519      $ 10.50  (1)      6.00      $ 7,611  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The fair values of PQ Group Holdings common stock options granted during the year ended December 31, 2018 were determined on the respective grant dates using a Black-Scholes option pricing model with the following weighted-average assumptions:
                        
    
2018
  
Expected term (in years)
   
 
5.75
 
Expected volatility
   
 
26.38
% 
Risk-free interest rate
   
 
2.86
% 
Expected dividend yield
   
 
0.00
% 
Weighted average grant date fair value of options granted
   
$
5.47
  
grant date fair value of the market condition-dependent / TSR goal-based portion of the Company’s performance stock units granted during 2020 using a Monte Carlo simulation:
Expected dividend yield
      —   % 
Risk-free interest rate
      1.56 % 
Expected volatility
      28.57 % 
Expected term (in years)
      2.95  
Grant date fair value
    $ 24.11  
Schedule of Nonvested Restricted Stock 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, 2017 through the year ended December 31, 2020:
 
                                                                                                                                                       
    
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, 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
  
Granted
   
 
—  
 
  
$
—  
 
  
 
1,158,605
    
$
16.60
     
 
456,311
    
$
20.29
  
Vested
   
 
(29,760
) 
  
$
12.32
 
  
 
(816,866
) 
  
$
16.17
     
 
—  
 
  
$
—  
 
Forfeited
   
 
(619,355
) 
  
$
8.04
 
  
 
(129,036
) 
  
$
16.28
     
 
(41,251
) 
  
$
15.95
  
    
 
 
            
 
 
             
 
 
          
Nonvested as of December 31, 2020
   
 
897,015
    
$
13.80
 (1) 
  
 
1,841,139
    
$
16.14
     
 
965,736
    
$
17.69