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Stock-based Payments
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Stock-based Payments
Note 9: Stock-based Payments
Options
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, 20192.6 $11.51 5.9
Exercised(0.1)10.04 — 
Forfeited(0.1)13.93 — 
Outstanding as of September 30, 20202.4 $11.51 5.1
Exercisable as of September 30, 20203.7 $11.42 5.1
Total recognized compensation cost related to these stock option awards was $0.1 million and $1.4 million for the three months ended September 30, 2020 and 2019, respectively, and $0.4 million and $3.9 million for the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020, the total unrecognized compensation cost related to non-vested time-based option awards was $0.6 million.
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, 20191.4 $11.64 5.9
Forfeited(0.0)12.59 — 
Outstanding as of September 30, 20201.4 $11.62 5.2
Exercisable as of September 30, 2020— — — 
Total recognized compensation cost related to these stock option awards was $0.0 million and $2.7 million for the three months ended September 30, 2020 and 2019, respectively and $0.0 million and $8.2 million for the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020, the compensation cost for performance-based options has been fully recognized.
Restricted Stock Units
The following table provides information about the Company’s outstanding restricted stock units ("RSUs") (in millions, except for per share amounts):
Co-Investment RSUsTime-Based RSUsPerformance-Based
RSUs
Number of RSUsWeighted
Average
Fair Value
Per Share
Number of RSUsWeighted
Average
Fair Value
Per Share
Number of RSUsWeighted
Average
Fair Value
Per Share
Unvested as of December 31, 20190.0 $17.00 5.7 $15.63 1.1 $17.08 
Granted— — 2.1 15.46 0.6 17.25 
Vested(0.0)17.00 (3.3)14.73 (0.1)17.29 
Forfeited— — (0.3)17.49 (0.1)18.70 
Unvested as of September 30, 2020— $— 4.2 $15.83 1.5 $17.04 
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, 2020
2020201920202019
Time-Based RSUs$8.8 $11.4 $31.0 $32.5 $50.8 
Co-Investment RSUs— 0.1 0.1 0.3 — 
Performance-Based RSUs0.7 0.6 2.8 1.3 10.4 
Total RSU stock-based compensation cost$9.5 $12.1 $33.9 $34.1 $61.2