Share-Based Compensation

9 Months Ended

Sep. 30, 2016

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

Restricted Stock Awards –- Restricted stock awards are a grant of shares of common stock that may not be sold, encumbered or disposed of and that may be forfeited in the event of certain terminations of employment prior to the end of a restricted period set by the Compensation Committee of the Board of Directors. A participant granted restricted stock generally has all of the rights of a stockholder, unless the Compensation Committee determines otherwise.

The following table summarizes information about outstanding restricted stock grants as of September 30, 2016:



Grant	Shares	Vesting Schedule	Unearned Compensation (in millions)		Remaining Periods (in months)
October 2013	470,997	3 equal annual installments commencing on October 20, 2014	$	0.1	1
October 2014	506,171	3 equal annual installments commencing on October 20, 2015	$	0.8	13
April 2015	27,174	3 equal annual installments commencing on October 20, 2015	$	0.1	13
October 2015	595,509	3 equal annual installments commencing on October 20, 2016	$	1.2	25
October 2015	138,888	fully vested as of October 20, 2016	$	0.04	1
January/March 2016	62,610	3 equal annual installments commencing on October 20, 2016	$	0.1	25

As of September 30, 2016, there was approximately $2.2 million of unearned compensation expense related to non-vested share-based compensation arrangements granted under our equity incentive plans. As noted in footnote 2, we have elected to report forfeitures as they occur as opposed to estimating future forfeitures in our share-based compensation expense. Additional expense was reported in the three months ended September 30, 2016 of $0.1 million for estimated forfeitures that pertained to expense reported in the first and second quarters of 2016. No adjustment was necessary to prior year share-based compensation expense as actual forfeitures exceeded estimated forfeitures in prior years.

The following table summarizes information about the non-vested restricted stock grants:



	Nine Months Ended September 30,
	2016				2015
	Shares (000’s)		Weighted- Average Grant-Date Fair Value		Shares (000’s)		Weighted- Average Grant-Date Fair Value
Nonvested at December 31	1,128		$	4.24	915		$	6.96
Granted	63		2.49		83		6.28
Forfeited	(153	)	4.29		(42	)	6.90
Nonvested at September 30	1,038		$	4.37	956		$	6.91

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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