Stock-Based Compensation

12 Months Ended

Dec. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note (24)—Stock-Based Compensation

The Company granted shares of common stock and restricted stock units in connection with its initial public offering for the benefit of employees, including its executive officers. Restricted stock unit grants are subject to time-based vesting. The total number of restricted stock units granted represents the maximum number of restricted stock units eligible to vest based upon the service conditions set forth in the grant agreements.

Following the initial public offering, participants in the EBI Plans were given the option to elect conversion of their outstanding cash-settled EBI Units to stock-settled EBI Units.

The following table summarizes information about stock-settled EBI Units and restricted stock units outstanding at December 31, 2016:

	Restricted Stock Units Outstanding			Weighted Average Grant Date Fair Value
Balance, beginning of period		—		$	—
Conversion of deferred compensation plan (see note 23)		157,895			19.00
Conversion of equity based incentive (EBI) plans (see note 23)		125,684			19.00
Grants		1,077,066			19.00
Released and distributed (vested)		(157,748	)		19.00
Forfeited/expired		(2,057	)		19.00
Balance, end of period		1,200,840		$	19.00

The total fair value of stock-settled EBI Units and restricted stock units vested and released was $2,997 for the year ended December 31, 2016.

The compensation cost related to stock-settled EBI Units and restricted stock units (included in salaries and employee benefits) was $4,693 for the year ended December 31, 2016.

As of December 31, 2016, there was $15,721 of total unrecognized compensation cost related to nonvested stock-settled EBI Units and restricted stock units which is expected to be recognized over a weighted-average period of 3.66.

Employee Stock Purchase Plan:

In 2016, the Company adopted an employee stock purchase plan (“ESPP”) under which employees, through payroll deductions, are able to purchase shares of Company common stock. The purchase price is 85%, with respect to the first offering period, or 95%, with respect to the current offering period, of the lower of the price on the first or last day of the offering period. The maximum number of shares issuable during any offering period is 200,000 shares and a participant may not purchase more than 725 shares during any offering period (and, in any event, no more than $25,000 worth of common stock in any calendar year). In 2016, 20,377 shares of common stock were issued under the ESPP. As of December 31, 2016, there were 2,479,623 shares available for issuance under the ESPP.