rights as all other holders of Common Stock. In each case, the awards of shares of restricted stock vest in one-third increments each year, over a three-year period, and all awards shown in the table that were made starting in December 2018 (save for one-half of Mr. Usher’s September 2019 award, and one-half of Mr. Morrison’s March 2020 award) contain additional stock-price performance-based restrictions. The grants and awards listed immediately after this paragraph are grants that were made in 2018 and 2019.
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On March 1, 2018, Mr. Usher received an award of 6,605 shares of restricted stock.
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On December 1, 2018, Mr. Usher received an award of 89,430 shares of restricted stock.
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On September 1, 2019, Mr. Usher received an award of 130,000 shares of restricted stock.
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On March 1, 2018, Mr. Bate received an award of 9,035 shares of restricted stock.
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On December 1, 2018, Mr. Bate received an award of 89,430 shares of restricted stock.
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On March 1, 2018, Mr. Williamson received an award of 8,835 shares of restricted stock.
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On December 1, 2018, Mr. Williamson received an award of 89,430 shares of restricted stock.
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On March 1, 2018, Mr. Powers received an award of 242 shares of restricted stock.
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On December 1, 2018, Mr. Powers received an award of 38,443 shares of restricted stock.
Grants and awards made in 2020 are described in the “— 2020 Grants of Plan-Based Awards” table below.
Option Awards Column. All of the amounts shown in the “Option Awards” column reflect stock options granted under our 2013 LTIP and stock appreciation rights granted under our 2018 SAR Plan. In each case, the options vest 1/4 each year over a four-year period and the SARs vest 1/3 per year over a three-year period and also contain a performance-based restriction further described in the footnotes to the next following table. The time-based vesting restrictions are generally contingent on the grantee’s continued employment (with certain exceptions that allow earlier vesting, such as in the event of a change of control in the Company’s ownership or the death, disability or retirement of the grantee). The values contained in the Summary Compensation Table under the Stock Options column are based on the grant date fair value of all option awards (excluding any impact of assumed forfeiture rates). For a discussion of the valuation assumptions for the awards, see Note 10, Shareholders’ Equity and Stock-Based Compensation — Valuation Assumptions, in our Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2019. All of the exercise prices for the options equal or exceed the fair market value per share of ION Common Stock on the date of grant. In addition to the grants and awards in 2020 described in the “2020 Grants of Plan-Based Awards” table below:
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On December 1, 2018, Mr. Usher was granted 95,435 cash-settled SARs having an exercise price of $8.85 per share.
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On December 1, 2018, Mr. Bate was granted 95,435 cash settled SARs having an exercise price of $8.85 per share.
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On December 1, 2018, Mr. Williamson was granted 95,435 cash-settled SARs having an exercise price of $8.85 per share.
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On December 1, 2018, Mr. Powers was granted 40,995 cash-settled SARs having an exercise price of $8.85 per share
Other Columns.
We do not sponsor for our employees (i) any defined benefit or actuarial pension plans (including supplemental plans), (ii) any non-tax-qualified deferred compensation plans or arrangements or (iii) any nonqualified defined contribution plans.
Our general policy is that our executive officers do not receive any executive “perquisites,” or any other similar personal benefits that are different from what our salaried employees are entitled to receive. We provide the named executive officers with certain group life, health, medical and other non-cash benefits generally