During the nine months ended September 30, 2020, the Company granted share-based compensation to eligible participants under the SunCoke Energy, Inc. Long-Term Performance Enhancement Plan (“SunCoke LTPEP”). All awards vest immediately upon a qualifying termination of employment, as defined by the SunCoke LTPEP, following a change in control.

The Company issued 304,332 stock-settled restricted stock units (“RSUs”) to certain employees to be settled in shares of the Company’s common stock during the nine months ended September 30, 2020. The weighted average grant date fair value was $6.04 per unit and was based on the closing price of our common stock on the day of the grant. The RSUs vest in three annual installments beginning one year from the date of grant.

The Company granted the following performance share units (“PSUs”) to certain employees to be settled in shares of the Company's common stock during the nine months ended September 30, 2020, for which the service period will end on December 31, 2022 and will vest during the first quarter of 2023:

(1)The PSU awards are split 50/50 between the Company's three year cumulative Adjusted EBITDA (as defined in Note 13) performance measure and the Company's three-year average pre-tax return on capital performance measure for its coke and logistics businesses and unallocated corporate expenses.

(2)The number of PSUs ultimately awarded will be determined by the above performance measures versus targets and the Company's three-year total shareholder return (“TSR”) as compared to the TSR of the companies making up the Nasdaq Iron & Steel Index (“TSR Modifier”). The TSR Modifier can impact the payout between 75 percent and 125 percent of the Company's final performance measure results.

The award may vest between zero and 250 percent of the original units granted. The fair value of the PSUs granted during the nine months ended September 30, 2020 is based on the closing price of our common stock on the date of grant as well as a Monte Carlo simulation for the valuation of the TSR Modifier.

During the nine months ended September 30, 2020, the Company issued 263,998 restricted stock units to certain employees to be settled in cash (“Cash RSUs”), which vest in three annual installments beginning one year from the grant date.

The weighted average grant date fair value of the Cash RSUs granted during the nine months ended September 30, 2020 was $6.04 per unit and was based on the closing price of our common stock on the day of grant.

The Cash RSU liability is adjusted based on the closing price of our common stock at the end of each quarterly period and at both September 30, 2020 and December 31, 2019 was not material.

The Company also granted share-based compensation to eligible participants under the SunCoke Energy, Inc. Long-Term Cash Incentive Plan (“SunCoke LTCIP”), which became effective January 1, 2016. The SunCoke LTCIP is designed to provide for performance-based, cash-settled awards. All awards vest immediately upon a qualifying termination of employment, as defined by the SunCoke LTCIP, following a change in control.

The Company issued awards with an aggregate grant date fair value of $2.0 million during the nine months ended September 30, 2020, for which the service period will end on December 31, 2022 and will vest during the first quarter of 2023. The awards are split 50/50 between the Company's three-year cumulative Adjusted EBITDA performance and the Company's three-year average pre-tax return on capital for its coke and logistics businesses and unallocated corporate expenses. The 2020 awards are not subject to the Company's three-year TSR Modifier performance.

The cash incentive award liability at September 30, 2020 was adjusted based on the Company's three-year cumulative Adjusted EBITDA performance and adjusted average pre-tax return on capital for the Company's coke and logistics businesses and unallocated corporate expenses. The cash incentive award liability at both September 30, 2020 and December 31, 2019 was not material.

Below is a summary of the compensation expense, unrecognized compensation costs, and the period for which the unrecognized compensation cost is expected to be recognized over:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019		September 30, 2020
	Compensation Expense(1)								Unrecognized Compensation Cost		Weighted Average Remaining Recognition Period
	(Dollars in millions)										(Years)
Equity Awards:
Stock Options	$	—	$	0.3	$	0.3	$	0.8	$	0.2	1.2
RSUs	0.5		0.3		1.4		0.7		$	1.0	1.3
PSUs	0.1		0.6		1.1		1.6		$	2.2	1.6
Total equity awards	$	0.6	$	1.2	$	2.8	$	3.1
Liability Awards:
Cash RSUs	$	0.2	$	—	$	0.3	$	0.7	$	0.7	1.8
Cash incentive award	0.3		(0.1)		0.6		0.3		$	1.6	2.1
Total liability awards	$	0.5	$	(0.1)	$	0.9	$	1.0

(1)Compensation expense recognized by the Company is included in selling, general and administrative expenses on the Consolidated Statements of Operations.

The Company issued $0.1 million and $0.2 million of share-based compensation to the Company's Board of Directors during the nine months ended September 30, 2020 and 2019, respectively.