Stock-Based Compensation Expense

In accordance with the Plan and with the approval of the Board, the Long-Term Incentive Plan (the “Incentive Plan”) became effective as of the Effective Date. The Incentive Plan is intended to, among other things, help attract, motivate and retain key employees and directors and to reward them for making major contributions to the success of the Company. The Incentive Plan permits awards to be made to employees, directors, or consultants of the Company or an affiliate of the Company.

On or about the Effective Date and pursuant to the Plan, the Company granted 562,217 restricted stock units (“RSUs”) and 562,217 stock options (“Options”) under the Incentive Plan and the terms of the relevant restricted stock unit agreements (the “Restricted Stock Unit Agreements”) and stock option agreements (the “Option Agreements”), as applicable, to certain employees, including its executive officers (collectively, “Management”), representing an aggregate of 1,124,434 shares of new Class A common stock (collectively, the “Management Emergence Awards”). On February 1, 2019, the Company granted an additional 144,000 RSUs to Management.

In addition, on or about the Effective Date and pursuant to the Plan, the Company granted each non-employee director certain RSUs and Options under the Incentive Plan and the terms of the relevant Restricted Stock Unit Agreements and Option Agreements, as applicable, representing an aggregate of 56,721 shares of new Class A common stock (the “Director Emergence Awards”). On April 30, 2019, the Company granted an additional 37,555 RSUs to its non-employee directors.

The following table discloses the total grants awarded for the Successor Company and Predecessor Company periods presented below:



	Successor Company			Predecessor Company
	Three Months Ended June 30, 2019	Six Months Ended June 30, 2019	Period from June 4, 2018 through June 30, 2018	Period from January 1, 2018 through June 3, 2018
Stock option grants	—	—	581,124	—
Restricted stock unit grants	37,555	181,555	600,031	—
Total grants	37,555	181,555	1,181,155	—

The following tables disclose total share-based compensation expense included in “Corporate expenses” in the accompanying Condensed Consolidated Statements of Operations for the Successor Company and Predecessor Company periods presented below (in thousands):



	Successor Company				Predecessor Company
	Three Months Ended June 30, 2019		Period from June 4, 2018 through June 30, 2018		Period from April 1, 2018 through June 3, 2018
Stock option grants	$	846	$	315	$	65
Restricted stock unit grants	260		337		—
Total expense	$	1,106	$	652	$	65



	Successor Company				Predecessor Company
	Six Months Ended June 30, 2019		Period from June 4, 2018 through June 30, 2018		Period from January 1, 2018 through June 3, 2018
Stock option grants	$	1,699	$	315	$	231
Restricted stock unit grants	615		337		—
Total expense	$	2,314	$	652	$	231