Share-Based Compensation

3 Months Ended

Mar. 31, 2018

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, 2018:



Grant	Shares ('000)	Vesting Schedule	Unearned Compensation ('000)		Remaining Periods (in months)
October 2015	596	3 equal annual installments commencing on October 20, 2016	$	315.2	7
January/March 2016	63	3 equal annual installments commencing on October 20, 2016	$	15.8	7
October 2016	411	3 equal annual installments commencing on October 20, 2017	$	1,075.8	19
June 2017	6	3 equal annual installments commencing on October 20, 2017	$	25.3	19
October 2017	303	3 equal annual installments commencing on October 20, 2017	$	2,544.5	31
October 2017	46	fully vests as of October 20, 2018	$	262.5	7

As of March 31, 2018, there was approximately $4.2 million of unearned compensation expense related to non-vested restricted stock awards 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 three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018				2017
	Shares (000’s)		Weighted- Average Grant-Date Fair Value		Shares (000’s)		Weighted- Average Grant-Date Fair Value
Nonvested at December 31	787		$	6.84	981		$	4.70
Granted	—		—		—		—
Vested	—		—		(3	)	4.89
Forfeited	(2	)	6.37		—		—
Nonvested at March 31	785		$	6.84	978		$	4.70