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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
On August 11, 2015, the Company issued Preferred Stock to an affiliate of Brookfield in excess of 15% of the Company's outstanding shares (see Note 2 "Preferred Share Issuance and Tender Offer"). This ownership exceeded the threshold for the change in control provisions in our Long Term Incentive Compensation ("LTIP") agreements under our 2005 Equity Incentive Plan. As a result, all unvested restricted shares vested upon Preferred Stock issuance. Performance shares also vested at 100% irrespective of the performance targets. Stock options with a strike price below the Offer Price paid out as well with the amount equal to the Offer Price less the exercise price. These vestings resulted in a $12.7 million accelerated charge in the predecessor period. There are no longer any outstanding awards as of September 30, 2015.
For the three months ended September 30, 2014 and 2015, we recognized stock-based compensation expense of $1.3 million and $12.7 million, respectively. Substantially all of the expense, $1.2 million and $12.0 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Operations, with the remaining expenses recorded as cost of sales and research and development.
For the nine months ended September 30, 2014 and 2015, we recognized stock-based compensation expense of $4.0 million and $15.3 million, respectively. Substantially all of the expense, $3.3 million and $14.6 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Operations, with the remaining expenses recorded as cost of sales and research and development.
Restricted Stock and Performance Shares
Restricted stock and performance share awards activity under the plans for the nine months ended September 30, 2015 was:
 
Number of
Shares
 
Weighted-
Average
Grant  Date
Fair Value
Outstanding unvested as of January 1, 2015
1,814,130

 
$
6.31

Granted
412,191

 
9.67

Vested
(2,037,914
)
 
6.98

Forfeited/canceled/expired
(188,407
)
 
6.42

Outstanding unvested as of September 30, 2015
—

 
—


 
Stock Options
Stock option activity under the plans for the nine months ended September 30, 2015 was:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price
Outstanding as of January 1, 2015
2,042,074

 
$
10.93

Forfeited/canceled/expired
(1,562,791
)
 
12.98

Exercised
(479,283
)
 
4.24

Outstanding as of September 30, 2015
—

 
—