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Stock-based Payments
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Payments
Note 10: Stock-based Payments
The tables below summarize the Company’s outstanding time-based stock options (in millions, except for per share amounts):
 
Time-Based Options
 
Number of
Options
 
Weighted
Average
Exercise Price
per Share
 
Weighted
Average
Remaining
Contractual
Term (in years)
Outstanding as of December 31, 2017
3.5

 
$
10.88

 
8.5
Granted
0.2

 
17.00

 
 
Exercised
(0.3
)
 
10.15

 
 
Forfeited
(0.1
)
 
11.97

 
 
Outstanding as of September 30, 2018
3.3

 
$
11.25

 
7.0
Exercisable as of September 30, 2018
1.0

 
$
10.57

 
6.8

Total recognized compensation cost related to these stock option awards was $4.5 million and $0.5 million for the three months ended September 30, 2018 and 2017, respectively, and $6.8 million and $1.7 million for the nine months ended September 30, 2018 and 2017, respectively. At September 30, 2018, the total unrecognized compensation cost related to non-vested time-based option awards was $4.1 million.
Performance-Based Options
The tables below summarize the Company’s outstanding performance-based stock options (in millions, except for per share amounts):
 
Performance-Based Options
 
Number of
Options
 
Weighted
Average
Exercise Price
per Share
 
Weighted
Average
Remaining
Contractual
Term (in years)
Outstanding as of December 31, 2017
1.6

 
$
11.23

 
7.8

Granted
0.1

 
17.00

 
 
Exercised
—

 
—

 
 
Forfeited
(0.2
)
 
11.93

 
 
Outstanding as of September 30, 2018
1.5

 
$
11.50

 
7.1

Exercisable as of September 30, 2018
—

 
—

 
—


At September 30, 2018, the total unrecognized compensation cost related to non-vested performance-based option awards was $2.2 million, which will be recognized once the performance condition is met.
Restricted Stock Units
The following table summarizes the Company’s outstanding RSUs (in millions, except for per share amounts):
 
Co-Investment RSUs
 
Time-Based RSUs
 
Performance-Based
RSUs
 
Number of RSUs
 
Weighted
Average
Fair Value
Per Share
 
Number of RSUs
 
Weighted
Average
Fair Value
Per Share
 
Number of RSUs
 
Weighted
Average
Fair Value
Per Share
Unvested as of December 31, 2017
0.7

 
$
11.28

 
7.0

 
$
13.48

 
2.5

 
$
1.50

Granted
0.0
 
17.00

 
0.6

 
17.00

 
0.2

 
3.18
Granted through modification (modified)
—

 
—

 
0.5

 
17.55

 
(0.5
)
 
4.30

Vested
(0.1)
 
10.32

 
(0.9
)
 
11.77

 
—

 
—

Forfeited
(0.1)
 
11.41

 
(0.2
)
 
13.46

 
—

 
—

Unvested as of September 30, 2018
0.5

 
$
11.56

 
7.0

 
$
14.30

 
2.2

 
$
1.09


The following table summarizes the Company's compensation expense related to RSUs (in millions):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
Unrecognized at September 30, 2018
2018
2017
 
2018
2017
 
Time-Based RSUs
$
14.5

$
5.4

 
$
27.3

$
17.8

 
$
41.6

Co-Investment RSUs
0.1

0.3

 
(0.1
)
1.0

 
0.2

Performance-Based RSUs
—

—

 
—

—

 
2.4

Equity classified compensation cost
14.6

5.7

 
27.2

18.8

 
44.2

Liability classified compensation cost (1)
0.6

1.6

 
3.6

4.6

 
—

Total RSU stock-based compensation cost
$
15.2

$
7.3

 
$
30.8

$
23.4

 
$
44.2


(1) In the third quarter of 2018, all liability classified awards were reclassified to equity, due to certain contingencies being lifted. 
On August 6, 2018, the Company adopted the 2018 Omnibus Management Share and Cash Incentive Plan (the “Management Plan”) and the 2018 Omnibus Non-Employee Director Share and Cash Incentive Plan (the “Director Plan,” and together with the Management Plan, the “2018 Omnibus Plans”).
Cassidy Turley - Deferred Purchase Obligation
The following table summarizes the Company's expense related to the DPO for those who elected to receive their consideration in shares (in millions):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Employees
$
2.7

 
$
2.8

 
$
7.5

 
$
8.7

Non-employees
2.5

 
2.7

 
8.4

 
8.2

Total DPO expense
$
5.2

 
$
5.5

 
$
15.9

 
$
16.9


In conjunction with the acquisition of Cassidy Turley, Inc. on December 31, 2014, an additional payment of $179.8 million will be made on the fourth anniversary of the closing and is tied to continuing employment. This will be recognized as compensation expense over the four years until it is paid. Selling shareholders were given the option to receive the additional payment in the form of the Company’s shares or cash. The accrued value of the cash-settled portion was $122.6 million and $105.6 million as of September 30, 2018 and December 31, 2017, respectively and included in Other current liabilities in the unaudited condensed consolidated balance sheets.