STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2017

STOCK-BASED COMPENSATION

Tabular disclosure of stock option grants under the Plan

The following table summarizes stock option grants under the Plan during the six months ended June 30, 2017.

Grantee Type	# of Options Granted	Issued and Outstanding	Vesting Period	Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Director Group	150,000	150,000	5 years	$	9.98	$	654,000
Employee Group	1,284,000	1,284,000	5 years	$	9.97	$	5,585,400
Total		1,434,000

Summary of restricted stock unit grants under the Plan

The following table summarizes restricted stock unit grants under the Plan during the six months ended June 30, 2017:

Grantee Type	# of Restricted Stock Units Granted	Vesting Period	Grant Date Fair Value
Employee Group	773,385	5 years	$	7,200,214

Schedule of fair value assumptions of stock option grants

The fair value of the Company’s stock option grants was estimated utilizing the following assumptions for the six months ended June 30, 2017:

Weighted average expected life	6.5 years
Risk-free interest rate	1.95% to 2.09%
Expected volatility	40.4% to 40.6%
Expected dividend yield	0.00%

Schedule of summary of option activity under the Plan and changes during the period

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of January 1, 2017	—	$	—	—	$	—
Granted	1,434,000		9.97	10.0		—
Exercised	—		—	—		—
Forfeited or expired	—		—	—		—
Outstanding as of June 30, 2017	1,434,000		9.97	9.7		1,658
Exercisable as of June 30, 2017	—	$	—	—	$	—

Summary of restricted stock awards activity under the Plan

	Units	Weighted Average Grant Date Fair Value (Per Unit)
Outstanding as of January 1, 2017	—	$	—
Granted	773,385		9.31
Vested	—		—
Forfeited	(8,547)		9.31
Outstanding as of June 30, 2017	764,838	$	9.31