Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Stock-Based Compensation (Tables)

v3.20.4
Stock-Based Compensation 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 
The following table provides the assumptions used to determine the 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 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, 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