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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [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 value per share)
Number of Shares
 
Weighted
Average
Grant Date Fair Value
Outstanding on January 1, 2017
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

Granted
3,880

 
9.39

Vested
(1,579
)
 
19.12

Cancelled/forfeited
(1,315
)
 
13.19

Outstanding on December 31, 2018
5,756

 
11.78

Granted
4,381

 
7.81

Vested
(1,571
)
 
13.71

Cancelled/forfeited
(1,314
)
 
11.18

Outstanding on December 31, 2019
7,252

 
9.08



As of December 31, 2019, there was $43.1 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 2.5 years and is based on grant date fair value.

During 2019, grants of restricted shares under the Company's 2014 Omnibus Incentive Plan were as follows:
(share amounts in thousands, except value per share)
Shares Granted
 
Value Per Share
 
Total Value
Three months ended March 31, 2019
4,047

 
$
7.87

 
$
31,857

Three months ended June 30, 2019
142

 
$
6.51

 
$
922

Three months ended September 30, 2019
136

 
$
7.55

 
$
1,028

Three months ended December 31, 2019
56

 
$
7.32

 
$
413



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 participating employee may elect to deduct up to 15% of his or her base pay each quarter and no more than 200 shares may be purchased by a participating employee 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.