Stock-Based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation We had stock-based compensation expense of $3 million and $10 million for the three and nine months ended September 30, 2021, and $6 million and $14 million for the three and nine months ended September 30, 2020.

Restricted Stock and Restricted Stock Units

The following table summarizes restricted stock and restricted stock units activity:


	Three Months Ended September 30, 2021			Nine Months Ended September 30, 2021
	Shares	Weighted — Average Grant-Date Fair Value per Share		Shares		Weighted — Average Grant-Date Fair Value per Share
Restricted Stock and Restricted Stock Units
Non-vested balance at beginning of period	1,142,981	$	34.23	974,186		$	30.88
Granted	2,458	45.15		347,788		42.82
Vested	—	—		(135,662)		33.05
Canceled and forfeited	(16,239)	33.81		(57,112)		31.69
Non-vested balance at end of period	1,129,200	$	34.26	$	1,129,200	$	34.26

2017 Employee Stock Purchase Plan

The Employee Stock Purchase Plan ("2017 ESPP") was approved on March 20, 2017, by our Board and on May 23, 2017, by our shareholders. The 2017 ESPP became effective July 1, 2017, and was terminated on June 30, 2021 pursuant to the Merger Agreement with NYCB as approved by the Board on April 24, 2021. There were 106,707 shares issued under the ESPP during the nine months ended September 30, 2021 and the associated compensation expense was de minimis.