Share-Based Compensation and Employee Ownership Plans (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the Company's stock option activity for the three months ended March 31, 2016:



	Shares Subject to Option	Weighted Average Exercise Price/Share		Weighted Average Remaining Term	Aggregate Intrinsic Value(1)
				(in years)	(dollars in thousands)
Balance outstanding at December 31, 2015	16,667	$	4.89	1.10	$	—
Options granted	—	—		—	—
Options exercised	—	—		—	—
Options expired	—	—		—	—
Balance outstanding at March 31, 2016	16,667	$	4.89	0.85	$	—
Options exercisable at March 31, 2016	16,667	$	4.89	0.85	$	—


(1)	Based on the Company's closing stock price of $3.81 on March 31, 2016 and $3.83 on December 31, 2015.

Schedule of Share-based Compensation, Stock Appreciation Rights, Activity

As of March 31, 2016, the Company's stock options were fully expensed.

The following table summarizes the Company's SAR's for the three months ended March 31, 2016:



	Shares Subject to Option	Weighted Average Exercise Price/Share		Weighted Average Remaining Term	Aggregate Intrinsic Value(1)
				(in years)	(dollars in thousands)
Balance outstanding at December 31, 2015	400,000	2.90		2.21	$	558
SAR's granted	—	—		—	—
SAR's acquired	—	—		—	—
SAR's expired	—	—		—	—
Balance outstanding at March 31, 2016	400,000	$	2.90	1.96	$	522
SAR's exercisable at March 31, 2016	—	$	—	—	$	—


(1)	Based on the Company's closing stock price of $3.81 on March 31, 2016 and $3.83 on December 31, 2015.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

Restricted shares and restricted stock units are referred to collectively as restricted stock. The following table summarizes the Company's restricted share and restricted stock unit activity for the three months ended March 31, 2016:



	Nonvested Restricted Shares and Restricted Stock Units		Weighted-Average Grant Date Fair Value
Balance outstanding at December 31, 2015	21,480,364		$	4.17
Granted	7,410,814		3.47
Vested	(2,851,670	)	4.00
Canceled	—		—
Forfeited	(79,182	)	3.85
Balance outstanding at March 31, 2016 (1)	25,960,326		$	3.99

(1) Performance linked restricted stock units of 1,925,750 were awarded to employees of the Company in December 2013 and January 2014. An additional 2,800,000 performance linked restricted stock units were awarded in March 2016. Of the awards granted, 326,250 have been forfeited through March 31, 2016. The remaining awards, included in the outstanding balance as of March 31, 2016, will vest between March 2019 and December 2020 and will be earned only to the extent that the Company attains specified market goals relating to its volume-weighted average share price and total shareholder return in relation to certain benchmark indices and performance goals relating to aggregate net income and average return on shareholder equity. The actual number of RSUs ultimately earned could vary from zero, if performance goals are not met, to as much as 150% of the targeted award. Each RSU is equal to the one share of the Company’s Class A common stock. Compensation expense is recognized to the extent that it is probable that the Company will attain the performance goals.