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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2016
Share-based Compensation [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
We granted the following stock options to purchase shares of common stock during the three months ended March 31, 2016 with an exercise price equal to the closing price of our common stock on the date of grant.
 
 
 
Weighted Average Per Share
 
No. of Shares
 
Exercise Price
 
Grant Date Fair Value
Stock options:
 
 
 
 
 
February grants
95,001

 
$
3.80

 
$
1.71

March grants
90,925

 
$
6.03

 
$
2.78

Performance based options:
 
 
 
 
 
February grants
58,448

 
$
3.80

 
$
1.06

March grants
90,925

 
$
6.03

 
$
2.42

The Company granted the following performance share units ("PSUs") for shares of the Company's common stock during the three months ended March 31, 2016 that vest on December 31, 2018:
 
ROIC Portion(1)
 
TSR Portion(2)
 
Total
 
Shares
 
Fair Value per Share
 
Shares
 
Fair Value per Share
 
Grant Date Fair Value
 
 
 
 
 
 
 
 
 
(Dollars in millions)
February grants
105,210

 
$
5.66

 
105,210

 
$
5.81

 
$
1.2

March grants(3)
67,167

 
$
10.51

 
201,500

 
$
6.35

 
$
2.0

(1) The number of PSU's ultimately awarded will be determined by the Company's three year average pre-tax return on capital for the Company's Coke and Coal Logistics business. If at any time during the vesting period the closing price of the Company's common stock equals or exceeds $9.00 per share for any 15 trading days, the pre-tax return on capital portion of the award, as adjusted, will be multiplied by two.
(2) The number of PSU's ultimately awarded will be determined by the Company's three year total shareholder return ("TSR") as compared to the TSR of the companies making up the S&P 600.
(3) The final vesting value of the TSR portion of this award cannot exceed $4.9 million.
Weighted-average assumptions
The weighted-average fair value of employee stock options granted during the three months ended March 31, 2016 was based on using the following weighted-average assumptions:
 
 
Three Months Ended March 31, 2016
Risk-free interest rate
 
1.25
%
Expected term
 
5 years

Volatility
 
52
%
Dividend yield
 
0.0
%