Common Stock and Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity during the nine months ended September 30, 2014:

	Options		Weighted Average Exercise Price		Weighted Average Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2014	5,055,035		$	19.35
Granted	—		—
Forfeited and canceled	(501,716	)	20.90
Exercised	(524,498	)	14.21
Options outstanding at September 30, 2014	4,028,821		$	19.82	3.14	$	1,675,345
Options exercisable at September 30, 2014	3,920,761		$	20.07	3.02	$	1,413,501

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity during the nine months ended September 30, 2014:

	Employees			Directors (1)			Total
Stock units outstanding at January 1, 2014	680,017			96,273			776,290
Stock units issued	344,421			59,367			403,788
Shares issued upon vesting of stock units	(181,570		)	(42,281		)	(223,851		)
Stock units canceled or forfeited(2)	(183,102		)	(780		)	(183,882		)
Stock units outstanding at September 30, 2014	659,766			112,579			772,345
Weighted average grant date fair value	$	14.64		$	13.75		$	14.52

(1) Directors' stock units include Restricted Stock Awards ("RSAs"), which participate in declared dividends.

(2) Pursuant to the terms of our stock unit plans, employees have the option of forfeiting stock units to cover their minimum statutory tax withholding when shares are issued. Any stock units surrendered or canceled in satisfaction of participants’ tax withholding obligations are not available for future grants under the plans.

Summary of Phantom Share Activity

The following table summarizes the phantom share activity during the nine months ended September 30, 2014:

	Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2014	1,111,059		$	17.72
Granted	581,129		14.25
Converted/paid	(544,309	)	17.70
Forfeited	(87,691	)	16.76
Outstanding at September 30, 2014	1,060,188		$	15.91

Summary of Share-Based Compensation Expense Recognized

The following table summarizes the share-based compensation expense recognized during the three and nine months ended September 30, 2014 and 2013:

	Three Months Ended September 30					Nine Months Ended September 30
	2014		2013			2014		2013
	(In thousands)
Stock Options	$	75	$	418	(1)	$	338	$	6,347	(1)
Stock Units	892		1,467		(1)	3,279		4,010		(1)
Phantom Shares	585		1,626			3,185		6,747
Total	$	1,552	$	3,511		$	6,802	$	17,104

(1) The share-based compensation expense recorded during the three and nine months ended September 30, 2013 includes additional compensation expense of $0.2 million and $5.6 million, respectively, for stock options and $0.4 million and $0.7 million, respectively, for stock units related to the equity modification of share-based compensation pursuant to the WhiteWave spin-off described above.