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Stock Incentive Plans
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
2014 Management Incentive Plan
 
        On October 15, 2014, in accordance with the Plan of Reorganization, the Company adopted the post-emergence Management Incentive Program (the “2014 Plan”), which provided for the distribution of New Eagle MIP Primary Equity in the form of shares of New Eagle Common Stock, and New Eagle MIP Options, to the participating senior management and other employees of the reorganized Company with 2% of the New Eagle Common Stock (on a fully diluted basis) on the Effective Date, and two tiers of options to acquire 5.5% of the New Eagle Common Stock (on a fully diluted basis) with different strike prices based on the equity value for the reorganized Company and a premium to the equity value, each of the foregoing to vest generally over a four year schedule through 25% annual installments commencing on the first anniversary of the Effective Date. The New Eagle MIP Primary Equity is subject to vesting, but the holder thereof is entitled to receive all dividends paid with respect to such shares as if such New Eagle MIP Primary Equity had vested on the grant date (subject to forfeiture by the holder in the event that such grant is terminated prior to vesting unless the administrator of the 2014 Plan determines otherwise). The New Eagle MIP Options contain adjustment provisions to reflect any transaction involving shares of New Eagle Common Stock, including as a result of any dividend, recapitalization, or stock split, to prevent any diminution or enlargement of the holder’s rights under the award.

        During 2019, 50,625 restricted stock awards vested and none were forfeited. There are no outstanding unvested restricted stock awards outstanding as of December 31, 2019.
During 2018, 1,432 restricted stock awards vested and 83 restricted stock awards were forfeited. There were 50,625 unvested restricted stock awards outstanding with an average share price on grant date of $5.90 as of December 31, 2018.

        During 2017, 133,452 restricted stock awards vested and there were 52,140 restricted stock awards outstanding with an average share price on grant date of $42.19 as of December 31, 2017.

        As of December 31, 2019 and 2018, there were 12,875 options vested but unexercised with exercise prices ranging from $360 to $505 and there were no unvested MIP options. The fair value of the vested options is insignificant.

        On November 7, 2016, the Company granted 233,863 shares of restricted common stock and options to purchase 280,000 shares of the Company’s common stock in connection with the appointment of a new member to the senior management team. 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, 2016233,863  $4.24  $1.0  
100% vesting on third anniversary date
Unvested restricted stock outstanding as of December 31, 2018 and 2017233,863  $4.24  $1.0   
Vested during 2019(126,152) 
Cancellations due to settlement of tax liability on vested shares(107,711) 
Unvested restricted stock outstanding as of December 31, 2019—  $—  $—  
 
        * Amortization of the above stock awards was calculated using the cliff method of vesting and included in general and administrative expenses.
 Options**Weighted Average Exercise
Price		Expiration( years)Risk free
interest
rate		VolatilityDividend %
Fair
 Value of
 Options
 on grant
 date
Aggregate
fair value
(in millions)		Expected Term and vesting conditions
Granted on November 7, 2016280,000  $4.28  51.10 %61 %— %$1.91  $0.53  
3.75 years and 25% vesting annually over four year term
Vested during 2017(70,000) $(0.13) 
Unvested options outstanding as of December 31, 2017210,000  $4.28      $1.91  $0.40   
Vested during 2018(70,000) $(0.13) 
Unvested options outstanding as of December 31, 2018140,000  $4.28  $1.91  $0.27  
Vested during 2019(70,000) $4.28  $1.91  $(0.13) 
Unvested options outstanding as of December 31, 201970,000  $4.28  $1.91  $0.14  
  
** 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 these stock options was calculated using the graded method of vesting and included in general and administrative expenses.

        There are 210,000 options vested but not exercised and 70,000 unvested options, all of which are expected to vest as of December 31, 2019. The vested but not exercised options expire at various dates beginning November 2022 until November 2023 at an exercise price of $4.28 per share.


2016 Equity Compensation Plan
 
        On December 15, 2016, the Company’s shareholders approved the 2016 Equity Compensation Plan (the “2016 Plan”) and the Company registered 5,348,613 shares of common stock which may be issued under the 2016 Plan. The 2016 Plan replaced the 2014 Plan and no other awards will be granted under the 2014 Plan. Outstanding awards under the 2014 Plan will continue to be governed by the terms of the 2014 Plan until exercised, expired, otherwise terminated, or canceled. Under the terms of the 2016 Plan, awards for up to a maximum of 3,000,000 shares may be granted under the 2016 Plan to any one employee of the Company and its subsidiaries during any one calendar year, and awards in the form of options and stock appreciation rights for up to a maximum of 3,000,000 shares may be granted under the 2016 Plan. The total number of shares of common stock with respect to which awards may be granted under the 2016 Plan to any non-employee director during any one calendar year shall not exceed 500,000, subject to adjustment as provided in the 2016 Plan. Any Director, officer, employee or consultant of the Company or any of its subsidiaries (including any prospective officer or employee) is eligible to be designated to participate in the 2016 Plan. The Company withheld shares related to restricted stock awards that vested in 2019 at the fair market value equivalent to the maximum statutory withholding obligation, and remitted that amount in cash to the appropriate taxation authorities. On June 7, 2019, the Company's shareholders approved an amendment and restatement of the 2016 Plan, which increased the number of shares reserved under the 2016 Plan by an additional 2,500,000 shares to a maximum of 7,848,613 shares of common stock.

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
Unvested restricted stock outstanding as of December 31, 20171,430,925  $5.70  $8.15  
33% vesting annually over three year term
Issued on January 4, 2018948,500  4.71  4.47  
33% vesting annually over three year term
Issued on January 10, 201830,000  4.81  0.10  
Vested on January 10, 2018(30,000) 4.81  (0.10) 
Net shares vested on March 1, 2018(90,711) 5.47  (0.50) 
Vested on September 1, 2018(408,143) 5.90  (2.41) 
Vested on October 14, 2018(130,164) 5.90  (0.77) 
Forfeitures and cancellations due to settlement of tax liability on vested shares during 2018(537,942) 5.81  (3.13) 
Unvested restricted stock outstanding as of December 31, 20181,212,465  4.80  5.82  
Issued during 2019829,390  4.61  3.82  
33% vesting annually over three year term
Vested during 2019(293,011) 4.92  (1.44) 
Forfeitures and cancellations due to settlement of tax liability on vested shares during 2019(189,342) 4.91  (0.93) 
Unvested restricted stock outstanding as of December 31, 20191,559,502  $4.66  $7.27  
  

 Options*Weighted Average Exercise
Price		Expiration (years)Risk free
interest rate		VolatilityDividend %
Fair
Value of
Options
on grant
date
Aggregate fair value
(in millions)
Expected Term and Vesting conditions
Unvested options outstanding as of December 31, 20171,180,086  $4.65  51.79 %61 %—  $2.91  $3.43  
Vested and unexercised during 2018(525,501) 4.55  3.01  (1.60) 
Forfeitures during 2018(1,875) 5.56  2.60  (0.05) 
Exercised during 2018(875) 5.56  2.60  (0.03) 
Unvested options outstanding as of December 31, 2018651,835  4.72  1.75  
Vested and unexercised during 2019(465,335) 5.56  2.73  (1.27) 
Forfeitures during 2019(4,500) 5.56  2.60  (0.01) 
Unvested options outstanding as of December 31, 2019182,000  $5.56  $2.60  $0.47  
 
There are 1,818,921 options vested but not exercised as of December 31, 2019 and 182,000 options expected to vest. The Company issues new shares upon exercise of any vested options. The vested but not exercised
options expire at various dates beginning September 2022 until October 2023 at exercise prices ranging between $4.28 and $5.56 per share.
        
        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, 2019December 31, 2018December 31, 2017
Stock awards /stock option plans$4,826,324  $9,207,480  $8,738,615  
Total stock-based compensation expense$4,826,324  $9,207,480  $8,738,615  
 
        The future compensation to be recognized for all the grants including the grants issued on January 2, 2020,  for the years ending December 31, 2020, 2021 and 2022 is estimated to be $2.7 million, $0.9 million and $0.2 million, respectively.