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Stock Plans
 6 Months Ended
Jun. 30, 2021
Stock Plans [Abstract]  
Stock Plans (16) Stock Plans:

Upon emergence, all outstanding stock-based compensation plans of Old Frontier were terminated and, in accordance with the Plan, the form of the Frontier Communications Parent, Inc. 2021 Management Incentive Plan (the “Incentive Plan”) was approved and adopted by the Board. The Incentive Plan permits stock-based awards to be made to employees, directors, or consultants of the Company or its affiliates, as determined by the Compensation and Human Capital Committee. At June 30, 2021, there were 15,600,000 shares of Common Stock reserved for issuance pursuant to the Incentive Plan and no grants or awards had been made. In July 2021, the Company awarded an aggregate of approximately 5,340,000 unvested restricted stock units (which includes the “target” number of restricted stock units subject to performance conditions granted to certain officers), under the Incentive Plan to certain employees, directors and officers of the Company, subject to satisfaction of the applicable vesting conditions.

Restricted Stock

The following summary presents information regarding unvested restricted stock with regard to restricted stock granted under the 2017 EIP:

Weighted

Average

Number of

Grant Date

Aggregate

Shares

Fair Value

Fair Value

(in thousands)

(per share)

(in millions)

Balance at January 1, 2021 (Predecessor)

304

$

6.78

$

-

Restricted stock granted

-

$

-

$

-

Restricted stock vested

(41)

$

8.23

$

-

Restricted stock forfeited

(109)

$

8.23

$

-

Balance at April 30, 2021 (Predecessor)

154 

$

5.38

$

-

Cancellation of restricted stock

(154)

$

-

$

-

Balance at April 30, 2021 (Predecessor)

-

$

-

$

-

Balance at June 30, 2021 (Successor)

-

For purposes of determining compensation expense, the fair value of each restricted stock grant is estimated based on the closing price of a share of our common stock on the date of the grant. Total remaining unrecognized compensation cost associated with unvested restricted stock awards that is deferred at June 30, 2021 was less than $1 million.