During the six-month period ended June 30, 2016, the following grants of share-based awards were made under the 2005 Incentive Plan: | | | | | | | | | | | | | | | Date of Grant | | | Shares | | | | Grant Date Fair Value Per Share | | | Vesting Period | | | | | | | | | | | | January 4, 2016 (1) | | | 1,143,062 |
| | | | $ | 5.26 |
| | | 33% per year over three years | January 4, 2016 (2) | | | 1,143,062 |
| | | | $ | 7.13 |
| | | 100% on January 3, 2019 | January 4, 2016 (3) | | | 11,763 |
| | | | $ | 5.26 |
| | | 100% on January 1, 2018 | February 1, 2016 (1) | | | 18,610 |
| | | | $ | 4.03 |
| | | 33% per year over three years | February 1, 2016 (2) | | | 18,610 |
| | | | $ | 7.13 |
| | | 100% on January 31, 2019 | April 1, 2016 (3) | | | 13,727 |
| | | | $ | 5.60 |
| | | 100% on January 1, 2018 |
| | (1) | Reflects the grant of restricted stock to our executive officers and select management employees. |
| | (2) | Reflects the grant of performance share units (“PSUs”) to our executive officers and select management employees. The PSUs provide for an award based on the performance of our common stock over a three-year period with the maximum amount of the award being 200% of the original awarded PSUs and the minimum amount being zero. The vested PSUs may be settled in either cash or shares of our common stock at the discretion of the Compensation Committee of our Board of Directors (the “Board”). |
| | (3) | Reflects the grant of restricted stock to certain members of our Board who have made an election to take their quarterly fees in stock in lieu of cash. |
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