Rendering

Component: (Network and Table)
Network
2313301 - Disclosure - Stock-Based Compensation (Tables)
(http://www.advancedemissionssolutions.com/role/StockBasedCompensationTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001515156 (http://www.sec.gov/CIK)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
 
Stock Option Valuation Assumptions
The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2016, 2015 and 2014, respectively:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
Stock options granted:
 
 
 
 
 
 
Risk-free interest rate
 
1.3
%
 
1.8
%
 
1.6
%
Dividend yield
 
—
%
 
—
%
 
—
%
Volatility
 
78.8
%
 
74.5
%
 
80.4
%
Expected term (in years)
 
2.6

 
5.0

 
5.0

  
Equity Instruments, Other than Options, Valuation Assumptions
The following table indicates the weighted-average assumptions that were used related to the awards granted for the year ended December 31, 2015. No SAR's were granted during the year ended December 31, 2016.
 
 
Year ended December 31,  
 
 
2015
SAR's granted:
 
 
Risk-free interest rate
 
1.8
%
Dividend yield
 
—
%
Volatility
 
74.5
%
Expected term (in years)
 
5.0

PSU's - Compensation expense is recognized for PSU awards on a straight-line basis over a 3-year service period based on the estimated fair value at the date of grant using a Monte Carlo simulation model. The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2015 and 2014. No PSU's were granted during the year ended December 31, 2016.
 
 
Years Ended December 31,
 
 
2015
 
2014
PSUs granted:
 
 
 
 
Risk-free interest rate
 
1.0
%
 
0.8
%
Dividend yield
 
—
%
 
—
%
Volatility
 
64.3
%
 
74.5
%
Performance period (in years)
 
3.0

 
3.0

  
Allocation of Compensation Expense
The Company recorded the following compensation expense related to the Stock Plans:
 
 
Years Ended December 31,
(in thousands)
 
2016
 
2015
 
2014
RSA expense
 
$
2,021

 
$
2,909

 
$
2,612

Stock option expense
 
285

 
658

 
117

SAR expense
 
106

 
742

 
—

PSU expense
 
456

 
2,895

 
1,983

Total stock-based compensation expense (1)
 
2,868

 
7,204

 
4,712


(1) Amounts for the years ended December 31, 2016, 2015 and 2014 do not reflect an income tax benefit as a result of a valuation allowance on the Company's deferred tax assets.
  
Schedule of Unrecognized Compensation Cost
The amount of unrecognized compensation cost as of December 31, 2016, and the expected weighted-average period over which the cost will be recognized is as follows:
 
 
As of December 31, 2016
(in thousands)
 
Unrecognized Compensation Cost
 
Expected Weighted-Average Period of Recognition (in years)
RSA expense
 
$
1,335

 
0.98
Stock option expense
 
732

 
0.53
PSU expense
 
137

 
0.63
Total unrecognized stock-based compensation expense
 
$
2,204

 
0.81
  
Summary of Restricted Stock Activity
A summary of the status and activity of non-vested RSA's is presented in the following table:
 
For the Years Ended December 31.
 
2016
 
2015
 
2014
(in thousands, except for share and per share amounts)
Shares
 
Weighted-
Average
Grant Date
Fair Value
 
Shares
 
Weighted-Average
Grant-Date
Fair Value
 
Shares
 
Weighted-Average
Grant-Date
Fair Value
Non-vested at beginning of year
134,708

 
$
8.49

 
209,921

 
$
13.59

 
263,989

 
$
9.05

Granted
363,758

 
$
7.46

 
127,943

 
$
14.97

 
112,643

 
$
24.74

Vested
(175,956
)
 
$
11.96

 
(165,796
)
 
$
17.51

 
(118,364
)
 
$
15.75

Forfeited (1)
(25,163
)
 
$
15.58

 
(37,360
)
 
$
19.30

 
(48,347
)
 
$
9.49

Non-vested at end of year
297,347

 
$
8.03

 
134,708

 
$
8.49

 
209,921

 
$
13.59

  
Summary of Option Activity
A summary of option activity under the Plans is presented below:
(in thousands, except for share and per share amounts)
 
Number of
Options
Outstanding and
Exercisable
 
Weighted-
Average
Exercise
Price
 
Aggregate Intrinsic Value
 
Weighted-
Average
Remaining
Contractual
Term (in years)
For the year ended December 31, 2014
 
 
 
 
 
 
 
 
Options outstanding, January 1, 2014
 
317,576

 
$
5.07

 
 
 
 
Options granted
 
30,000

 
$
20.67

 
 
 
 
Options exercised
 
(260,126
)
 
$
4.30

 
 
 
 
Options expired / forfeited
 
(13,250
)
 
$
6.90

 
 
 
 
Options outstanding, December 31, 2014
 
74,200

 
$
13.76

 
$
670

 
3.0
Options vested and exercisable as of December 31, 2014
 
34,199

 
$
8.44

 
$
491

 
1.6
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2015
 
 
 
 
 
 
 
 
Options outstanding, January 1, 2015
 
74,200

 
$
13.76

 
 
 
 
Options granted
 
56,250

 
$
13.87

 
 
 
 
Options exercised
 
—

 
$
—

 
 
 
 
Options expired / forfeited
 
(24,200
)
 
$
7.59

 
 
 
 
Options outstanding, December 31, 2015
 
106,250

 
$
15.22

 
$
—

 
3.8
Options vested and exercisable as of December 31, 2015
 
82,915

 
$
14.04

 
$
—

 
3.9
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2016
 
 
 
 
 
 
 
 
Options outstanding, January 1, 2016
 
106,250

 
$
15.22

 
 
 
 
Options granted (1)
 
546,196

 
$
11.10

 
 
 
 
Options exercised
 
—

 
$
—

 
 
 
 
Options expired / forfeited
 
(20,000
)
 
$
16.90

 
 
 
 
Options outstanding, December 31, 2016
 
632,446

 
$
11.61

 
$
183

 
4.0
Options vested and exercisable as of December 31, 2016
 
247,780

 
$
13.30

 
$
69

 
3.4

(1)
Included in options granted are 243,750 awards granted that were initially granted on a contingent basis and became exercisable as a result of the automatic expiration of the same number of Stock Appreciation Rights, as a result of stockholder approval of Amendment No. 4 of the 2007 Plan. See "Stock Appreciation Rights" section below for a discussion of the provisions of the exchange and incremental expense recognized.
  
Schedule of Equity Instruments, Other than Options Activity
A summary of SAR activity under the Plans is presented below:
(in thousands, except for share and per share amounts)
 
Number of
SAR's
Outstanding and
Exercisable
 
Weighted-
Average
Exercise
Price
 
Aggregate Intrinsic Value
 
Weighted-
Average
Remaining
Contractual
Term (in years)
For the year ended December 31, 2015
 
 
 
 
 
 
 
 
SAR's outstanding as of January 1, 2015
 
—

 
$
—

 
 
 
 
Granted
 
243,750

 
$
13.87

 
 
 
 
Exercised
 
—

 
$
—

 
 
 
 
Expired / forfeited
 
—

 
$
—

 
 
 
 
SAR's outstanding as of December 31, 2015
 
243,750

 
$
13.87

 
$
—

 
4.5

SAR's vested and exercisable as of December 31, 2015
 
43,750

 
$
13.87

 
$
—

 
—

 
 
 
 
 
 
 
 
 
For the year ended December 31, 2016
 
 
 
 
 
 
 
 
SAR's outstanding as of January 1, 2016
 
243,750

 
$
13.87

 


 
 
Granted
 
—

 
$
—

 

 
 
Exercised
 
—

 
$
—

 

 
 
Expired / forfeited
 
(243,750
)
 
$
13.87

 

 
 
SAR's outstanding as of December 31, 2016
 
—

 
$
—

 
$
—

 
—

SAR's vested and exercisable as of December 31, 2016
 
—

 
$
—

 
$
—

 
—

A summary of the status and activity of non-vested PSU's is presented in the following table:
 
 
For the Years Ended December 31.
 
 
2016
 
2015
 
2014
(in thousands, except for share and per share amounts)
 
Units
 
Weighted-Average
Grant-Date
Fair Value
 
Units
 
Weighted-Average
Grant-Date
Fair Value
 
Units
 
Weighted-Average
Grant-Date
Fair Value
Non-vested at beginning of year
 
169,334

 
$
26.38

 
142,357

 
$
30.65

 
89,578

 
$
26.04

Granted (1)
 
—

 
$
—

 
69,218

 
$
20.10

 
57,547

 
$
37.45

Vested (1)
 
(119,818
)
 
$
26.87

 
(13,763
)
 
$
30.52

 
—

 
$
—

Forfeited / Canceled (1) (2)
 
—

 
$
—

 
(28,478
)
 
$
30.44

 
(4,768
)
 
$
26.04

Non-vested at end of year
 
49,516

 
$
25.20

 
169,334

 
$
26.38

 
142,357

 
$
30.65

(1) The number of units shown in the table above are based on target performance. The final number of shares of common stock issued may vary depending on the achievement of market conditions established within the awards, which could result in the actual number of shares issued ranging from zero to a maximum of two times the number of units shown in the above table.
(2) Included within the 2015 forfeited / canceled units are PSU's related to a former executive that were clawed back. The Company recognized $0.2 million within Other Income line item on the Consolidated Statement of Operations related to these awards.
  
Schedule of Performance-Based Units, Settled
The following table shows the PSUs that were settled by issuing the Company's common stock relative to a peer group performance index and broad stock index.
 
 
Year of Grant
 
Net Number of Issued Shares upon Vesting
 
Shares Withheld to Settle Tax Withholding Obligations
 
TSR Multiple Range
 
Russell 3000 Multiple
 
 
 
 
 
Low
 
High
 
Low
 
High
For the year ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2013
 
38,706

 
1,572

 
0.63

 
1.00

 
—

 
—

 
 
2014
 
11,487

 
—

 
0.63

 
0.63

 
—

 
—

 
 
2015
 
13,529

 
—

 
0.50

 
0.50

 
—

 
—

For the year ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2013
 
8,768

 
3,954

 
1.75

 
1.75

 
2.00

 
2.00

 
 
2014
 
2,506

 
1,145

 
0.63

 
0.75

 
—

 
0.75