(10) Share-based Compensation

The Company’s 2013 Stock Incentive Plan (as amended, the “2013 Equity Plan”) authorizes the issuance of various types of share-based awards to the Company’s employees, officers, directors, and other eligible participants. As of September 30, 2017, the total number of shares of the Company’s class A common stock authorized for issuance under the 2013 Equity Plan was 1,700,000 shares.

During the three months ended September 30, 2017 and 2016, no stock option awards were granted pursuant to the 2013 Equity Plan. As of September 30, 2017, there were options to purchase 941,633 shares of class A common stock outstanding under the 2013 Equity Plan. As of September 30, 2017, there were 535,000 remaining shares of class A common stock authorized for future issuance under the 2013 Equity Plan.

The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended September 30, 2017:

	Stock Options Outstanding
				Weighted Average		Aggregate		Weighted Average
				Exercise Price		Intrinsic		Remaining Contractual
	Shares			Per Share		Value		Term (Years)
Balance as of July 1, 2017		949		$	146.79
Granted		0			0.00
Exercised		0			0.00	$	0
Forfeited/Expired		(7	)		201.25
Balance as of September 30, 2017		942		$	146.36
Exercisable as of September 30, 2017		529		$	135.31	$	2,524		6.8
Expected to vest as of September 30, 2017		413		$	160.54		906		7.8
Total		942		$	146.36	$	3,430		7.3

Stock options outstanding as of September 30, 2017 are comprised of the following range of exercise prices per share (in thousands, except per share data and years):

	Stock Options Outstanding at September 30, 2017
			Weighted Average		Weighted Average
			Exercise Price		Remaining Contractual
Range of Exercise Prices per Share	Shares		Per Share		Term (Years)
$117.85 - $120.00		25	$	118.55		6.6
$120.01 - $150.00		510	$	121.43		6.6
$150.01 - $180.00		209	$	167.41		7.4
$180.01 - $201.25		198	$	191.90		8.9
Total		942	$	146.36		7.3

An aggregate of 15,000 stock options with an aggregate fair value of $1.2 million vested during the three months ended September 30, 2017. Beginning January 1, 2017, the Company made an accounting policy election to prospectively account for forfeitures as they occur. Therefore, share-based compensation expense has not been adjusted for any estimated forfeitures. Prior periods have not been restated.

For the three and nine months ended September 30, 2017, the Company recognized approximately $3.7 million and $10.6 million, respectively, in share-based compensation expense from stock options granted under the 2013 Equity Plan. For the three and nine months ended September 30, 2016, the Company recognized approximately $3.3 million and $8.4 million, respectively, in share-based compensation expense from stock options granted under the 2013 Equity Plan. As of September 30, 2017, there was approximately $20.8 million of total unrecognized share-based compensation expense related to unvested stock options. The Company expects to recognize this remaining share-based compensation expense over a weighted average vesting period of approximately 2.1 years.

During the nine months ended September 30, 2016, the Company was able to recognize and utilize tax deductions related to equity compensation in excess of compensation recognized for financial reporting that was generated under the 2013 Equity Plan. Accordingly, additional paid-in capital increased by $1.2 million during the nine months ended September 30, 2016. Beginning January 1, 2017, excess tax benefits are no longer recognized as additional paid-in capital; instead, they are prospectively included within the provision for income taxes. Prior periods have not been restated.

During the nine months ended September 30, 2016, the Company wrote off $1.7 million of deferred tax assets related to certain vested stock options that were no longer exercisable. Accordingly, additional paid-in capital decreased by $1.7 million during the nine months ended September 30, 2016. No such adjustment was made during the nine months ended September 30, 2017.

During the nine months ended September 30, 2016, the Company paid $3.7 million to tax authorities related to the net exercise of a stock option under the 2013 Equity Plan. This payment resulted in a $3.7 million reduction to additional paid-in capital during the nine months ended September 30, 2016. No net exercises of stock options were made during the nine months ended September 30, 2017.