Share-Based Compensation

3 Months Ended

Mar. 31, 2017

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

The company's outstanding share-based compensation is comprised solely of restricted stock awards.

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 March 31, 2017:



Grant	Shares	Vesting Schedule	Unearned Compensation (in millions)		Remaining Periods (in months)
October 2014	506,171	3 equal annual installments commencing on October 20, 2015	$	0.4	7
April 2015	27,174	3 equal annual installments commencing on October 20, 2015	$	—	7
October 2015	595,509	3 equal annual installments commencing on October 20, 2016	$	0.9	19
January/March 2016	62,610	3 equal annual installments commencing on October 20, 2016	$	—	19
October 2016	410,751	3 equal annual installments commencing on October 20, 2017	$	1.9	31
October 2016	97,951	fully vests as of October 20, 2017	$	0.3	7

As of March 31, 2017, there was approximately $3.5 million of unearned compensation expense related to non-vested share-based compensation arrangements granted under our equity incentive plans. We have elected to report forfeitures as they occur as opposed to estimating future forfeitures in our share-based compensation expense. There were no material forfeitures for the three months ended March 31, 2017.

The following table summarizes information about the non-vested restricted stock grants for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017				2016
	Shares (000’s)		Weighted- Average Grant-Date Fair Value		Shares (000’s)		Weighted- Average Grant-Date Fair Value
Nonvested at December 31	981		$	4.70	1,128		$	4.24
Granted	—		—		63		2.49
Vested	(3	)	4.89		—		—
Forfeited	—		—		(18	)	4.86
Nonvested at March 31	978		$	4.70	1,173		$	4.35

- 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.

+ References + Details