Share-Based Compensation

9 Months Ended

Sep. 30, 2018

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

Stock-Based Compensation

The Plan is designed to provide long-term equity-based compensation to our directors and employees. It is administered by the Compensation Committee of the Board of Directors. Awards under the Plan may be granted with respect to an aggregate of 12,750,000 shares of common stock and may be issued in the form of: (a) incentive stock options, (b) non-qualified stock options, (c) stock appreciation rights, (d) dividend equivalent rights, (e) restricted stock, (f) restricted stock units or (g) unrestricted stock. In addition, the Plan limits the total number of shares of common stock with respect to which awards may be granted to any employee or director during any one calendar year.

Total stock-based compensation expense recorded as General and administrative expense in the Statement of Operations totaled $0.6 million and $1.5 million for the three and nine months ended September 30, 2018, respectively. Compensation expense is recognized on a straight-line basis over the term of the reward.

The following table details the activity of our restricted stock and performance based restricted stock units:



(In thousands, except per share data)	Shares		Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2017	124		$	15.61
Granted	383		17.05
Vested	(31	)	20.01
Forfeited	(2	)	20.03
Canceled	—		—
Outstanding as of September 30, 2018	474		$	16.47

As of September 30, 2018, there was $6.3 million of unrecognized compensation cost related to non-vested stock-based compensation arrangements under the Plan. This cost is expected to be recognized over a weighted average period of 2.5 years.