Share-Based Compensation

6 Months Ended

Jun. 30, 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 June 30, 2017:



Grant	Shares (in thousands)	Vesting Schedule	Unearned Compensation (in millions)		Remaining Periods (in months)
October 2014	506	3 equal annual installments commencing on October 20, 2015	$	0.2	4
April 2015	27	3 equal annual installments commencing on October 20, 2015	$	—	4
October 2015	596	3 equal annual installments commencing on October 20, 2016	$	0.8	16
January/March 2016	63	3 equal annual installments commencing on October 20, 2016	$	—	16
October 2016	411	3 equal annual installments commencing on October 20, 2017	$	1.6	28
October 2016	98	fully vests as of October 20, 2017	$	0.2	4

As of June 30, 2017, there was approximately $2.8 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.

The following table summarizes information about the non-vested restricted stock grants for the six months ended June 30, 2017 and 2016:



	Six Months Ended June 30,
	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	(12	)	5.20		(21	)	4.88
Nonvested at June 30	966		$	4.69	1,170		$	4.35