SHARE-BASED COMPENSATION PLANS

The Company has various share-based compensation programs (the “Plans”) under which awards, including non-qualified stock options, RSUs and other share-based awards, may be granted or shares of Class A Common Stock may be purchased. As of September 30, 2014, approximately 15.1 million shares of the Company’s Class A Common Stock were reserved and available to be granted pursuant to these Plans.

Total share-based compensation expense for the three months ended September 30, 2014 and 2013 of $1.3 and $14.2, respectively, is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The share-based compensation expense for the three months ended September 30, 2014 of $1.3 includes $6.3 expense for the period offset by $(5.0) income for the period due to forfeitures of share-based compensation instruments as a result of Mr. Scannavini’s resignation on September 29, 2014.

As of September 30, 2014, the total unrecognized share-based compensation expense related to unvested stock options and restricted and other share awards is $22.5 and $46.9, respectively. The unrecognized share-based compensation expense related to unvested stock options and restricted and other share awards is expected to be recognized over a weighted-average period of 1.66 and 4.00 years, respectively.

Nonqualified Stock Options

Nonqualified stock options generally become exercisable 5 years from the date of the grant and have a 5-year exercise period from the date the grant becomes fully vested for a total contractual life of 10 years.

The Company’s outstanding nonqualified stock options as of September 30, 2014 and activity during the three months then ended are presented below:



	Shares (in millions)		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding at July 1, 2014	23.2		$	9.32
Exercised	(1.0	)	7.55
Forfeited	(1.2	)	10.18
Outstanding at September 30, 2014	21.0		$	9.36
Vested and expected to vest at September 30, 2014	18.2		$	9.24	$	133.1	4.84
Exercisable at September 30, 2014	9.0		$	8.56	$	71.9	3.59

There were no options granted in the current year. The grant prices of the outstanding options as of September 30, 2014 ranged from $5.10 to $11.60. The grant prices for exercisable options ranged from $5.10 to $10.50.

A summary of the total intrinsic value of stock options exercised for the three months ended September 30, 2014 and 2013 is presented below:



	September 30,
	2014		2013
Intrinsic value of options exercised	$	10.0	$	2.9

The Company’s non-vested nonqualified stock options as of September 30, 2014 and activity during the three months then ended are presented below:



	Shares (in millions)		Weighted Average Grant Date Fair Value
Non-vested at July 1, 2014	16.2		$	3.81
Vested	(3.0	)	3.51
Forfeited	(1.2	)	4.02
Non-vested at September 30, 2014	12.0		$	3.86

The share-based compensation expense recognized on the nonqualified stock options was $2.0 and $9.6 during the three months ended September 30, 2014 and 2013, respectively.

Restricted Share Units

During the three months ended September 30, 2014, 1.6 million RSUs were granted under the Omnibus LTIP. During the three months ended September 30, 2013, the Company granted 1.8 million RSUs under the LTIP.

The Company’s outstanding RSUs as of September 30, 2014 and activity during the three months then ended are presented below:



	Shares (in millions)		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding at July 1, 2014	4.4
Granted	1.6
Cancelled	(0.5	)
Outstanding at September 30, 2014	5.5
Vested and expected to vest at September 30, 2014	3.9		$	65.3	3.66

The share-based compensation (income) expense recorded in connection with the RSUs was $(0.2) and $2.1 during the three months ended September 30, 2014 and 2013, respectively.

The Company’s outstanding and non-vested RSUs as of September 30, 2014 and activity during the three months then ended are presented below:



	Shares (in millions)		Weighted Average Grant Date Fair Value
Outstanding and nonvested at July 1, 2014	4.0		$	15.77
Granted	1.6		16.55
Cancelled	(0.5	)	15.78
Outstanding and nonvested at September 30, 2014	5.1		$	16.02

Less than 0.1 million RSUs vested and settled during the three months ended September 30, 2014 and 2013.

Restricted Shares

Share-based compensation (income) expense recorded in connection with restricted shares was $(0.5) and nil for the three months ended September 30, 2014 and 2013, respectively. During the three months ended September 30, 2014, the former CEO forfeited less than 0.1 million restricted shares.

Special Incentive Award

Share-based compensation expense recorded in connection with special incentive awards is nil and $2.5 for the three months ended September 30, 2014 and 2013, respectively. As of September 30, 2014, there were no special incentive awards outstanding as all special incentive awards vested as of June 13, 2014. As of September 30, 2013, 1.2 million special incentive awards were outstanding with a weighted average grant date fair value of $6.82. There was no vesting or forfeiture activity during the three months ended September 30, 2014 and 2013.