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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Significant Assumptions Used to Calculate the Grant Date Fair Market Values of Options Granted
The following table provides the significant assumptions used to calculate the grant date fair market values of options granted using a Black-Scholes option pricing method:
 
2016
 
2015
 
2014
Subsequent to Spinoff
 
2014
Prior to Spinoff
Weighted-average fair value per option
$3.32
 
$11.21
 
$18.43
 
$23.17
Risk-free interest rate
1.34%
 
1.47%
 
1.78%
 
1.80%
Dividend yield
—%
 
1.93%
 
1.22%
 
1.75%
Expected stock volatility
41.71%
 
47.10%
 
47.00%
 
50.35%
Expected life - years
6
 
6
 
6
 
6
Schedule of Stock Option Activity
The following summarizes TimkenSteel stock option activity from January 1, 2016 to December 31, 2016:
 
Number of Shares
Weighted Average Exercise Price
Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value (millions)
Outstanding as of December 31, 2015
1,617,503


$28.68

 
 
Granted
644,580


$7.47

 
 
Exercised
(6,825
)

$11.24

 
 
Canceled, forfeited or expired
(35,861
)

$24.05

 
 
Outstanding as of December 31, 2016
2,219,397


$22.64

6.22
$5.5
Options expected to vest
968,982


$15.90

8.53
$5.1
Options exercisable
1,239,280


$27.82

4.41
$0.4
Stock options presented in this table represent TimkenSteel awards only, including those held by Timken employees.
Summary of Restricted Share Award Activity
The following summarizes TimkenSteel stock-settled restricted share award activity from January 1, 2016 to December 31, 2016:
 
Number of Shares
Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2015
339,410


$30.31

Granted
426,090


$7.16

Vested
(38,641
)

$30.60

Canceled, forfeited or expired
(30,706
)

$3.93

Outstanding as of December 31, 2016
696,153


$17.57

Restricted share awards presented in this table represent TimkenSteel awards only, including those held by Timken employees.