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STOCK COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2016
STOCK COMPENSATION  
Summary of changes in cash and stock-settled Restricted Stock Units (RSUs)

The following summarizes our RSU activity for the year ended December 31, 2016:

 

 

 

Stock-Settled

 

Cash-Settled

 

 

 

Number of 
Shares
(in thousands)

 

Weighted-Average Grant-

Date Fair Value

 

Number of 
Shares
(in thousands)

 

Unvested at January 1

 
132

 

$
79.39

 
904

 

Granted

 
453

 

$
15.40

 
1,273

 

Vested

 
(121

)

$
62.04

 
(344

)

Forfeited

 
(24

)

$
52.66

 
(88

)

Converted to stock-settled awards

 
165

 

$
18.50

 
(165

)

 

 

 

 

 

 

 

 

 

Unvested at December 31

 
605

 

$
22.08

 
1,580

 

 

 

 

 

 

 

 

 

 

 

Summary of changes in cash and stock-settled Performance Stock Units (PSUs)

A summary of our unvested PSU awards as of December 31, 2016, and changes during the year ended December 31, 2016, is presented below:

 

 

 

 

Stock-Settled

 

Cash-Settled

 

 

 

Number of 
Shares
(in thousands)

 

Weighted-Average Grant-Date Fair Value

 

Number of 
Shares
(in thousands)

 

Unvested at January 1

 
322

 

$
77.80

 
279

 

Granted

 

—

 

$

—

 

—

 

Vested

 
(118

)

$
77.26

 

—

 

Forfeited

 
(21

)

$
51.40

 
(3

)

Converted to stock-settled awards

 
276

 

$
18.50

 
(276

)

 

 

 

 

 

 

 

 

 

Unvested at December 31

 
459

 

$
44.34

 

—

 

 

 

 

 

 

 

 

 

 

 

TSR Awards  
STOCK COMPENSATION  
Schedule of grant date assumptions used in the Monte Carlo valuation

 

 

 

Modification 
Date

 

Grant Date

 

Risk-free interest rate

 
0.77 

%
1.06 

%

Dividend yield

 

—

%
0.95 

%

Volatility factor

 
69.69 

%
43.63 

%

Expected life (years)

 
2.16 

 
2.9 

 

Fair value of underlying common stock

 

$
18.50 

 

$
42.00 

 

 

Stock Options  
STOCK COMPENSATION  
Summary of stock option activity

The following table summarizes our option activity during the year ended December 31, 2016:

 

 

 

Options
(000’s)

 

Weighted-Average 
Exercise 
Price

 

Weighted-Average 
Grant-Date 

Fair Value

 

Aggregate 
Intrinsic 
Value

 

Beginning balance, January 1

 
1,152

 

$
70.21

 

$
18.46

 

$

—

 

Granted

 

—

 

$

—

 

$

—

 

$

—

 

Exercised

 

—

 

$

—

 

$

—

 

$

—

 

Forfeited

 
(43

)

$
78.37

 

$
19.46

 

$

—

 

Expired or Canceled

 

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, December 31

 
1,109

 

$
69.89

 

$
18.42

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31

 
669

 

$
73.61

 

$
18.88

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of grant date assumptions used in the Black-Scholes valuation for stock options

 

 

 

2015

 

2014

 

Exercise price per share

 

$
42.00 

 

$
81.10 

 

Expected life (in years)

 
4.5 

 
4.5 

 

Expected volatility

 
44.7 

%
35.4 

%

Risk-free interest rate

 
1.56 

%
1.40 

%

Dividend yield

 
0.95 

%

.50

%

Grant date fair value of stock option awards granted

 

$
15.00 

 

$
19.80