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Share-Based Compensation
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation
Share-Based Compensation
For the three and nine months ended September 30, 2019 and 2018, we recorded share-based compensation and related tax benefits as follows: 
 
 
Three months ended September 30,
 
Nine months ended September 30,
(Dollars in thousands)
 
2019
 
2018
 
2019
 
2018
Share-based compensation expense
 
$
18,782

 
$
11,501

 
$
50,550

 
$
33,968

Income tax benefit related to share-based compensation expense
 
(4,883
)
 
(2,895
)
 
(12,028
)
 
(7,955
)

Unrecognized Compensation Expense
As of September 30, 2019, unrecognized share-based compensation expense was as follows:
(Dollars in thousands)
 
  Unrecognized  
Expense
 
Weighted Average Expected
Recognition Period 
- in Years  
Stock options
 
$
15,837

 
2.69
Restricted stock units and awards
 
116,952

 
2.83
Total unrecognized share-based compensation expense
 
$
132,789

 
 

Share-Based Payment Award Activity
The table below provides stock option information related to the 2006 Equity Incentive Plan for the nine months ended September 30, 2019:
 
 
Options
 
Weighted
Average
 Exercise Price 
 
Weighted Average Remaining Contractual Life - in Years  
 
Aggregate
  Intrinsic Value  
of In-The-
Money
Options
Outstanding at December 31, 2018
 
679,659

 
$
137.19

 
 
 
 
Granted
 
121,669

 
249.64

 
 
 
 
Exercised
 
(104,576
)
 
85.38

 
 
 
 
Forfeited
 
(20,180
)
 
211.23

 
 
 
 
Expired
 
(720
)
 
64.37

 
 
 
 
Outstanding at September 30, 2019
 
675,852

 
163.32

 
3.68
 
$
43,542,167

Vested and expected to vest at September 30, 2019
 
657,968

 
161.08

 
3.62
 
43,364,465

Exercisable at September 30, 2019
 
411,981

 
120.57

 
2.46
 
38,394,292


The aggregate intrinsic value of outstanding options shown in the table above represents the pre-tax intrinsic value based on our closing stock price of $208.95 as of September 30, 2019. The total intrinsic value of options exercised during the three and nine months ended September 30, 2019 was $1.6 million and $16.0 million, respectively, compared to $8.5 million and $39.5 million for the comparable 2018 periods.
The table below provides information for restricted stock units and awards under the 2006 Equity Incentive Plan for the nine months ended September 30, 2019:
 
 
Shares    
 
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2018
 
597,296

 
$
194.48

Granted (1)
 
539,266

 
243.70

Vested
 
(217,705
)
 
151.40

Forfeited
 
(53,905
)
 
188.07

Nonvested at September 30, 2019
 
864,952

 
236.41


 
 
(1)
On February 1, 2019, we granted 125,160 restricted stock awards to SVB Leerink employees at a market price of $238.28 under the retention plan previously announced on November 13, 2018. The restricted stock awards will vest over a five-year period.