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Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Restricted Stock Award Activity
The following schedule shows the stock awards granted under the 2014 Plan:
  
 
 
Restricted shares 1
 
Price on
grant date
 
Aggregate
fair value
(in millions)
 
Vesting Terms
Balance outstanding as of January 1, 2015
 
45,045

 
$
308.58

 
$
13.9

 
25% annually over four year term
Granted on June 12, 2015
 
2,750

 
$
179.60

 
$
0.5

 
25% annually over four year term
Granted on June 12, 2015
 
16,250

 
$
117.40

 
$
1.9

 
100% on third anniversary date
Granted on November 13, 2015
 
5,000

 
$
78.40

 
$
0.4

 
100% on third anniversary date
Vested during 2015
 
(2,433
)
 
 
 
 
 
 
Forfeited during 2015
 
(35,457
)
 
 
 
$
(11.2
)
 
 
Balance outstanding as of December 31, 2015
 
31,155

 
$
174.48

 
$
5.5

 
 
Granted on November 7, 2016 2
 
131,197

 
$
4.24

 
$
0.6

 
100% on first anniversary date
Granted on December 15, 2016 2
 
50,000

 
$
5.90

 
$
0.3

 
100% on third anniversary date
Issued on June 12, 2016
 
(688
)
 
 

 
 

 
 
Cancelled on December 15, 2016 3
 
(21,250
)
 
 

 
$
(1.4
)
 
 
Forfeited during 2016
 
(4,741
)
 
 

 
$
(1.4
)
 
 
Balance outstanding as of December 31, 2016
 
185,673

 
$
19.58

 
$
3.6

 
 
Vested during 2017
 
(133,452
)
 
 
 
 
 
 
Forfeitures during 2017
 
(81
)
 
 
 
 
 
 
Balance outstanding as of December 31, 2017
 
52,140

 
$
42.19

 
$
2.2

 
 
 
    
1. Amortization of all restricted shares unless otherwise stated were calculated using the graded method vesting and included in General and administrative expenses.
2. Amortization of above stock awards were calculated using the cliff method of vesting and included in General and administrative expenses.
3. The above stock awards were cancelled and concurrently new grants under the 2016 Plan (as defined herein) were issued. Therefore, the transaction was accounted for as a modification as per ASC 718 “Compensation-Stock Compensation.” The incremental compensation cost was calculated as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date
The restricted stock and option were not granted under, but are subject to, the terms of the Company’s 2014 Plan. The details of the grant are below:
 
 
Restricted shares *
 
Fair value
 on grant
 date
 
Aggregate
 fair value
 (in millions)
 
Vesting Terms
Granted on November 7, 2016
 
233,863

 
$
4.24

 
$
1.0

 
100% vesting on third anniversary date
Balance outstanding as of December 31, 2017 (Successor)*
 
233,863

 
$
4.24

 
$
1.0

 
 
 
* Amortization of the above stock awards was calculated using the cliff method of vesting and included in general and administrative expenses.
The following schedule represents outstanding stock awards and options granted under the 2016 Plan.
 
 
Restricted shares *
 
Weighted Average Fair value on grant date
 
Aggregate
 fair value
(in millions)
 
Vesting Terms
Granted on December 15, 2016
 
760,056

 
$
5.90

 
$
4.40

 
100% on September 1, 2018
Granted on December 15, 2016
 
233,869

 
5.90

 
1.38

 
100% on October 14, 2018
Balance outstanding as of December 31, 2016
 
993,925

 
 

 
5.78

 
 
Issued on March 1, 2017
 
429,750

 
5.47

 
2.35

 
33% vesting annually over three year term
Issued on June 1, 2017
 
18,000

 
4.64

 
0.08

 
100% vesting on third anniversary date
Forfeited during 2017
 
(10,750
)
 
 
 
 
 
 
Balance outstanding as of December 31, 2017
 
1,430,925

 
5.73

 
$
8.20

 
 
  
*The above stock awards were issued concurrently with the cancellation of outstanding stock awards and options under the 2014 Plan. Therefore, the issuance was accounted for as a modification as per ASC 718 “Compensation-Stock Compensation.” The fair value is the incremental compensation cost, which was calculated as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. The amortization of the above stock awards was calculated using the graded method of vesting and included in general and administrative expenses.
Stock Options Activity
 
 
Options
 
Weighted Average Exercise
Price
 
Expiration
 
Risk free
interest
rate
 
Volatility
 
Dividend %
 
Fair Value of Options on grant date
 
Aggregate fair value (in millions)
 
Expected Term and vesting conditions
Balance outstanding as of January 1, 2015
 
123,874

 
$
439.09

 
5
 
1.4%
 
44
%
 
—
%
 
$
87.02

 
$
10.78

 
4.75 years and 25% vesting annually over four year term
Granted on September 29, 2015**
 
16,250

 
$
117.40

 
5
 
1.09%
 
42
%
 
0
%
 
$
38.38

 
$
0.63

 
3.75 years and 25% vesting annually over four year term
Granted on September 29, 2015**
 
16,250

 
$
260.00

 
5
 
1.09%
 
42
%
 
0
%
 
$
12.32

 
$
0.20

 
3.75 years and 25% vesting annually over four year term
Granted on November 15, 2015**
 
5,000

 
$
78.40

 
5
 
1.37
%
 
43
%
 
0
%
 
$
26.49

 
$
0.10

 
3.75 years and 25% vesting annually over four year term
Granted on November 15, 2015**
 
5,000

 
$
260.00

 
5
 
1.37
%
 
43
%
 
0
%
 
$
4.05

 
$
0.02

 
3.75 years and 25% vesting annually over four year term
Forfeited during 2015
 
(97,507
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(8.89
)
 
 
Vested during 2015
 
(6,591
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(0.47
)
 
 
Balance outstanding as of December 31, 2015
 
62,276

 
 
 
 
 
 
 
 
 
 
 
 
 
$
2.37

 
3.75 years and 25% vesting annually over four year term
Forfeited during 2016
 
(13,038
)
 
 

 
 
 
 

 
 

 
 

 
 

 
$
(0.92
)
 
 
Cancelled on December 15, 2016**
 
(42,500
)
 
 

 
 
 
 

 
 

 
 

 
 

 
$
(0.67
)
 
 
Balance outstanding as of December 31, 2016
 
6,738

 
 

 
 
 
 

 
 

 
 

 
 

 
$
0.78

 
 
Vested during 2017
 
(3,369
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(0.39
)
 
 
Forfeited during 2017
 
(454
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(0.05
)
 
 
Balance outstanding as of December 31, 2017
 
2,915

 
$
116.64

 
 
 
 
 
 
 
 
 
 
 
$
0.34

 
 
 
* For the purposes of determining the stock-based compensation cost for the Company's stock option plan using the fair value method of ASC 718 "Compensation-Stock Compensation,” the fair value of the New Eagle MIP Options was estimated on the date of grant using the Black-Scholes option pricing model. The volatility was calculated by comparing the Company’s share price movement since emergence from bankruptcy on October 14, 2014 and its peers’ share price movement for the past five years. Amortization of above stock options for the 2014 Plan was calculated using the graded method of vesting and included in General and administrative expenses
 

 
 
** The above stock options were cancelled and concurrently new grants under the 2017 Plan was issued. Therefore, the transaction was accounted for as a modification as per ASC 718 “Compensation-Stock Compensation”. The incremental compensation cost was calculated as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date.
 
 
Options**
 
Weighted Average Exercise
Price **
 
Expiration
 
Risk free
interest
rate
 
Volatility
 
Dividend %
 
Fair
 Value of
 Options
 on grant
 date
 
Aggregate
 fair value
 (in millions)
 
Expected Term and vesting conditions
Granted on November 7, 2016
 
280,000

 
$
4.28

 
5
 
1.10
%
 
61
%
 
—
%
 
$
1.91

 
$
0.53

 
3.75 years and 25% vesting annually over four year term
Vested during 2017
 
(70,000
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(0.13
)
 
 
Balance outstanding as of December 31, 2017
 
210,000

 
$
4.28

 
 
 
 

 
 

 
 

 
$
1.91

 
$
0.40

 
 
  
* For the purposes of determining the stock-based compensation cost for the Company's stock option plan using the fair value method of ASC 718 "Compensation-Stock Compensation,” the fair value of the New Eagle MIP Options was estimated on the date of grant using the Black-Scholes option pricing model. The volatility was calculated by comparing the Company’s share price movement since emergence from bankruptcy on October 14, 2014 and its peers’ share price movement for the past five years. The amortization of the above stock options was calculated using the graded method of vesting and included in general and administrative expenses.
 
 
Options*
 
Weighted AverageExercise
Price
 
Expiration
 
Risk free
interest rate
 
Volatility
 
Dividend %
 
Fair
Value of
Options
on grant
date
 
Aggregate fair value
(in millions) 
 
Expected Term and Vesting conditions
Granted on December 15, 2016 **
 
1,266,476

 
$
4.28

 
5
 
1.79
%
 
62
%
 
—
%
 
$
3.12

 
$
3.96

 
3.15 years and 25% vesting annually
Granted on December 15, 2016 **
 
389,695

 
$
4.28

 
5
 
1.79
%
 
62
%
 
—
%
 
$
3.14

 
$
1.21

 
3.15 years and 25% vesting annually
Balance outstanding as of December 31, 2016
 
1,656,171

 
$
4.28

 
 
 
 

 
 

 
 

 
 

 
$
5.17

 
 
Issued on March 1, 2017
 
337,000

 
$
5.56

 
5
 
1.72
%
 
63.5
%
 
—
%
 
$
2.60

 
$
0.90

 
3.75 years and 25% vesting annually over four year term
Issued on June 1, 2017
 
18,000

 
$
4.71

 
5
 
1.56
%
 
64.7
%
 
—
%
 
$
2.23

 
$
0.04

 
3.75 years and 25% vesting annually over four year term
Vested during 2017
 
(828,085
)
 
$
4.28

 
 
 
 
 
 
 
 
 
$
3.12

 
$
(2.60
)
 
 
Forfeitures during 2017
 
(3,000
)
 
$
5.56

 
 
 
 
 
 
 
 
 
$
2.60

 
$
(0.08
)
 
 
Balance outstanding as of December 31, 2017
 
1,180,086

 
$
4.65

 
 
 
 
 
 
 
 
 
$
2.91

 
$
3.43

 
 
 
*For the purposes of determining the stock-based compensation cost for the Company's stock option plan using the fair value method of ASC 718 "Compensation-Stock Compensation,” the fair value of the New Eagle MIP Options was estimated on the date of grant using the Black-Scholes option pricing model. The volatility was calculated by comparing the Company’s share price movement since emergence from bankruptcy on October 14, 2014 and its peers’ share price movement for the past five years.

**The above stock options were issued concurrently with cancellation of outstanding stock awards and options under the 2014 Equity Incentive Plan. Therefore, the transaction was accounted for as a modification as per ASC 718 “Compensation-Stock Compensation.” The fair value is the incremental compensation cost, which was calculated as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. The amortization of the above stock options was calculated using the graded method of vesting and included in general and administrative expenses.
Schedule Of Noncash Compensation Expenses
The stock-based compensation expense for the above stock awards and options under the 2016 Plan and 2014 Plan included in General and administrative expenses:

 
 
For the Years Ended
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Stock awards /stock option plans
 
$
8,738,615

 
$
2,206,690

 
$
3,969,989

 
 
 
 
 
 
 
Total stock-based compensation expense
 
$
8,738,615

 
$
2,206,690

 
$
3,969,989