Stock-Based Compensation

Stock-based compensation for continuing operations consisted of the following:



	Three Months Ended
	March 31,
(In millions)	2018			2017
Stock-based compensation expense	$	(0.2	)	$	—

We have stock-based compensation awards consisting of stock options, restricted stock and stock appreciation rights under four plans (collectively, the “Stock Plans”) which are described in detail in our Annual Report on Form 10-K for the year ended December 31, 2017. As of March 31, 2018, there were 129,146 shares available for grant under the 2011 Incentive Plan. No further shares were available for grant under any other stock incentive plan.

Stock Options

The following table summarizes our stock option activity:



	Stock Options		Weighted Average Exercise Price
Outstanding December 31, 2017	189,466		$	84.81
Granted	—		—
Exercised	—		—
Canceled	(25,648	)	124.17
Forfeited	—		—
Outstanding March 31, 2018	163,818		$	78.65
Exercisable as of March 31, 2018	157,818		$	81.10

The outstanding options are non-qualified and generally have a term of ten years. The following table summarizes our weighted average assumptions used in the Black-Scholes valuation of stock options:



	Three Months Ended
	March 31,
	2018	2017
Volatility	N/A	44.3	%
Risk-free interest rate	N/A	1.6	%
Expected life (months)	N/A	72
Dividend yield	N/A	—

As of March 31, 2018, there was less than $0.1 million of total unrecognized compensation expense related to non-vested stock options granted under our Stock Plans. That expense is expected to be recognized over a weighted average period of 0.8 years.

Restricted Stock

The following table summarizes our restricted stock activity:



	Restricted Stock		Weighted Average Grant Date Fair Value Per Share
Nonvested as of December 31, 2017	213,982		$	3.53
Granted	77,690		1.33
Vested	(17,000	)	6.87
Forfeited	(41,992	)	4.78
Nonvested as of March 31, 2018	232,680		$	2.32

The cost of the awards is determined using the fair market value of the Company’s common stock on the date of the grant, and compensation is recognized on a straight-line basis over the requisite vesting period.

As of March 31, 2018, there was $0.3 million of total unrecognized compensation expense related to non-vested restricted stock granted under our Stock Plans. That expense is expected to be recognized over a weighted average period of 1.1 years.

Stock Appreciation Rights

The Company had less than 0.1 million Stock Appreciation Rights (“SARs”) outstanding at December 31, 2017. The performance targets were not met for the outstanding SARs and, as such, were subsequently canceled. As of March 31, 2018, the Company no longer has any outstanding SARs.