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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation

The following table sets forth information about the Company's restricted stock awards (excluding restricted stock units):
(share amounts in thousands, except for value per share)
Number of Shares
 
Weighted
Average
Grant Date Fair Value
Outstanding on January 1, 2015
3,552

 
$
25.70

Granted
1,698

 
32.75

Vested
(1,275
)
 
23.55

Cancelled/forfeited
(521
)
 
18.68

Outstanding on December 31, 2015
3,454

 
28.80

Granted
3,141

 
14.56

Vested
(1,242
)
 
26.79

Cancelled/forfeited
(745
)
 
24.75

Outstanding on December 31, 2016
4,608

 
20.29

Granted
2,569

 
14.65

Vested
(1,276
)
 
22.20

Cancelled/forfeited
(1,131
)
 
18.95

Outstanding on December 31, 2017
4,770

 
$
17.13



As of December 31, 2017, there was $47.5 million of total unrecognized compensation cost related to outstanding, unvested share-based compensation awards.  That cost is expected to be recognized over a weighted-average period of 2.4 years and is based on grant date fair value.

During 2017, grants of restricted shares under the Company's 2014 Omnibus Incentive Plan were as follows:
(share amounts in thousands, except for value per share)
Shares Granted
 
Value Per Share
 
Total Value
Three months ended March 31, 2017
2,392

 
$
14.84

 
$
35,497

Three months ended June 30, 2017
71

 
$
13.11

 
$
937

Three months ended September 30, 2017
67

 
$
13.19

 
$
889

Three months ended December 31, 2017
39

 
$
9.84

 
$
377



The Company has an employee stock purchase plan for all eligible employees. Under the plan, eligible employees of the Company can purchase shares of the Company's common stock on a quarterly basis at a discounted price through accumulated payroll deductions. Each eligible employee may elect to deduct up to 15% of his or her base pay, not to exceed 200 shares, each quarter. Subject to certain limitations specified in the plan, on the last trading date of each calendar quarter, the amount deducted from each participant's pay over the course of the quarter will be used to purchase whole shares of the Company's common stock at a purchase price equal to 90% of the closing market price on the New York Stock Exchange on that date. The Company reserved 1,800,000 shares of common stock for issuance under the plan. The impact on the Company's consolidated financial statements is not material.