SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Carry Unit Plan

Certain employees of the Company and its affiliates received awards of units in a carry unit plan of Neptune Management LP, an entity which has an ownership interest in the Company. The following table summarizes activity relating to these carry units:



	Number of Time Vesting Awards		Number of Performance Based Vesting Awards	Weighted Average Grant Date Fair Value
Balance, December 31, 2018	83,575,000		10,000,000	$	1.14
Vested	(24,356,250	)	—	0.75
Forfeited	(3,437,500	)	—	0.84
Balance, September 30, 2019	55,781,250		10,000,000	$	1.34

The weighted average fair value per unit was $3.80 and $1.95 as of September 30, 2019 and December 31, 2018, respectively. For the three and nine months ended September 30, 2019, the Company recognized an expense of $7,214 and $21,548, respectively, related to the push down of share-based compensation related to the carry unit plan. For the three and nine months ended September 30, 2018, the Company recognized an expense of $7,510 and $33,004 related to the push down of share-based compensation expense related to the carry unit plan.

Stock Option Plan

The following table summarizes activity related to the Company's employee stock options issued pursuant to the Altice USA 2017 Long Term Incentive Plan (the "2017 LTIP"):



	Shares Under Option				Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)
	Time Vesting		Performance Based Vesting		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (a)
Balance at December 31, 2018	11,230,168		73,639		$	17.50	9.47	$	—
Granted	3,091,573		—		23.43
Forfeited	(393,670	)	(16,736	)	17.85
Balance at September 30, 2019	13,928,071		56,903		18.80		8.93	138,194
Options exercisable at September 30, 2019	—		—		—		—	—


(a)	The aggregate intrinsic value is calculated as the difference between the exercise price and the closing price of the Company's Class A common stock at the respective date.

The Company recognized share-based compensation expense related to employee stock options for the three and nine months ended September 30, 2019 of $8,780 and $23,914, respectively. The Company recognized share based compensation expense related to employee stock options for the three and nine months ended September 30, 2018 of $4,817 and $13,172, respectively.

Restricted Awards

In June 2019, the Company granted restricted awards to certain employees pursuant to the 2017 LTIP. The majority of these awards vest over 4 years, where 50% vest on the second anniversary, 25% on the third anniversary and 25% on the fourth anniversary of the date of grant. The remaining awards vest monthly over a four year period. The grant date

fair value of these awards aggregated $27,013. For the three and nine months ended September 30, 2019, the Company recorded share based compensation expense of $2,841 and $3,698, respectively, related to these awards.