Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 8 — Stock-Based Compensation

Stock-based compensation for continuing operations consisted of the following:

	Three Months Ended
	March 31,
(In millions)	2019		2018
Stock-based compensation expense	$	—	$	(0.2	)

We have stock-based compensation awards consisting of stock options, restricted stock and stock appreciation rights under four plans (collectively, the “Stock Plans”) which are described in detail in our Annual Report on Form 10-K for the year ended December 31, 2018. As of March 31, 2019, there were 288,295 shares available for grant under the 2011 Incentive Plan. No further shares were available for grant under any other stock incentive plan.

Stock Options

The following table summarizes our stock option activity:

	Stock Options			Weighted Average Exercise Price
Outstanding December 31, 2018		22,758		$	83.67
Canceled		(20,648	)		83.14
Outstanding March 31, 2019		2,110		$	88.79
Exercisable as of March 31, 2019		2,110		$	88.79

The outstanding options are non-qualified and generally have a term of ten years. The weighted average assumptions used in the valuation of options are not applicable for the periods ending March 31, 2019 and 2018 as no options were granted over this time.

	Three Months Ended
	March 31,
	2019	2018
Volatility	N/A	N/A
Risk-free interest rate	N/A	N/A
Expected life (months)	N/A	N/A
Dividend yield	N/A	N/A

As of March 31, 2019, there was no unrecognized compensation expense related to non-vested stock options granted under our Stock Plans.

Restricted Stock

The following table summarizes our restricted stock activity:

	Restricted Stock			Weighted Average Grant Date Fair Value Per Share
Nonvested as of December 31, 2018		30,000		$	7.03
Granted		—			—
Vested		(15,000	)		7.03
Forfeited		—			—
Nonvested as of March 31, 2019		15,000		$	7.03

The cost of the awards is determined using the fair market value of the Company’s common stock on the date of the grant, and compensation is recognized on a straight-line basis over the requisite vesting period.

As of March 31, 2019, there was less than $0.1 million of total unrecognized compensation expense related to non-vested restricted stock granted under our Stock Plans. That expense is expected to be recognized over a weighted average period of 1.0 years.