Our stock-based compensation expense consists primarily of time-based and performance based stock options, restricted stock units and restricted stock awards that have been granted to management, other personnel and key service providers.

Stock-Based Compensation Expense

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2014		2013		2014		2013
Amounts included in:
Corporate expense	$	11.7	$	2.6	$	18.5	$	3.3
Property, general, administrative, and other	11.8		3.5		31.4		6.4
Total stock-based compensation expense	$	23.5	$	6.1	$	49.9	$	9.7

Stock-Based Compensation Expense (Portion of Amounts Above Attributable to CIE)

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2014		2013		2014		2013
Liability awards	$	6.1	$	1.8	$	22.5	$	2.3
Equity awards	2.0		0.8		3.9		1.6
Total	$	8.1	$	2.6	$	26.4	$	3.9

Liability-classified awards are remeasured to fair value at the end of each reporting period. Equity-classified awards are measured at fair value at the date of grant.

Stock Option Activity

	Shares		Weighted Average Exercise Price
Outstanding as of December 31, 2013	8,463,811		$	12.09
Granted	1,500,000		21.18
Exercised	(98,026	)	11.00
Forfeited	(121,862	)	8.78
Expired	(6,946	)	12.51
Outstanding as of June 30, 2014	9,736,977		$	13.53
Vested and expected to vest as of June 30, 2014	9,298,209		$	13.27
Exercisable as of June 30, 2014	2,956,822		$	14.04

Restricted Stock Unit Activity

	Units		Fair Value
Outstanding as of December 31, 2013	1,503,534		$	13.74
Granted	1,136,515		21.18
Canceled	(42,639	)	14.21
Vested	(371,151	)	13.71
Outstanding as of June 30, 2014	2,226,259		$	17.53

In addition to the restricted stock unit ("RSU") activity presented above, during the three months ended June 30, 2014 CIE granted 160 RSUs with a weighted-average grant date fair value per RSU of $9,950. During the six months ended June 30, 2014 CIE granted 548 RSUs with a weighted-average grant date fair value per RSU of $8,923. As of June 30, 2014, CIE had 7,068 RSUs outstanding with a weighted-average grant date fair value per RSU of $4,815.

Restricted Common Stock Awards

For the year ended December 31, 2012, the Company granted 50,000 shares of restricted common stock to an executive officer of the Company under the Company's 2012 Incentive Plan. The restricted common stock vests annually in equal amounts over two years. As of June 30, 2014 and December 31, 2013, 25,000 shares of restricted common stock were outstanding, respectively. For the six months ended June 30, 2014 and 2013, there were no shares of restricted common stock granted.

Caesars Entertainment Operating Company Stock-Based Compensation Plan

In May 2014, the CEOC Board of Directors adopted the Caesars Entertainment Operating Company, Inc. 2014 Performance Incentive Plan ("2014 Incentive Plan"). All CEOC share-based compensation programs are managed under this plan and are classified as either equity or liability-based instruments dependent on the terms and conditions of each of the awards. Equity-classified instruments are measured at their fair value at their date of grant and liability-classified instruments are re-measured at their fair value at each reporting date for accounting purposes. During the three and six months ended June 30, 2014, we granted 86,936 shares of CEOC common stock with a fair value of $90.31 per share and recognized a total of $7.5 million in share-based compensation expense and $0.4 million was charged to non-consolidated managed entities.

Caesars Acquisition Company Stock-Based Compensation Plan

On April 9, 2014, the CAC Board of Directors approved the CAC Equity-Based Compensation Plan for officers, employees, directors, individual consultants and advisers of the Company and its subsidiaries (the "CAC Equity Plan"). Under the CAC Equity Plan, CEC is authorized to grant stock options, stock appreciation rights, stock bonuses, restricted stock, performance stock, stock units, phantom stock, dividend equivalents, cash awards, rights to purchase or acquire shares or similar securities in the form of or with a value related to CAC Class A Common Stock, par value $0.001 per share (the "CAC Common Stock") to officers, employees, directors, individual consultants and advisers of CEC and its subsidiaries. The CAC Equity Plan will terminate ten years after approval by the Board. Subject to adjustments in connection with certain changes in capitalization, the maximum value of the shares of CAC Common Stock that may be delivered pursuant to awards under the CAC Equity Plan is $25.0 million.

On May 8, 2014, CEC granted awards to officers, employees, directors, individual consultants and advisers of CEC and its subsidiaries in accordance with the CAC Equity Plan to reward and provide incentive for services provided in their capacity, promote the success of CGP LLC, and more closely align the interests of such individuals with those of the stockholders of the CAC. Awards under this plan vest one-third on each of October 21, 2014, 2015 and 2016. Expense associated with the vesting of such awards is recorded as stock-based compensation expense by CEC, totaling $2.7 million for the quarter ended June 30, 2014. Upon issuance of shares pursuant to this plan, such shares will be contributed by CAC to CGP LLC as additional investment into that entity, at which time CGP LLC will settle its management fee obligation with CEC and its subsidiaries through a distribution of such shares.