Stock-Based Compensation

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

The Company has stock incentive plans for executives and eligible employees. Stock awards include stock options, restricted stock, and performance shares. Stock-based compensation expense was $1.6 million and $2.5 million for the three months ended and $6.4 million and $7.5 million for the nine months ended September 30, 2015 and 2014, respectively. At September 30, 2015, there was $9.8 million of unrecognized stock-based compensation cost expected to be recognized over a period of 1.5 years. During the nine months ended September 30, 2015, the supplemental incentive accrual increased $1.2 million to $1.8 million.

The following table summarizes the grants awarded during the nine months ended September 30, 2015:

Grant date	Restricted stock	Grant date fair value of restricted stock		Stock options	Grant date fair value of stock options		Performance shares	Grant date fair value of performance shares
May 13, 2015	1,127,814	$	5.57	310,028	$	2.65	809,293	$	6.97
July 1, 2015	22,897	$	5.35	—	$	—	—	$	—

The following options and stock appreciation rights were exercisable during the nine months ended September 30, 2015:

Award Type	Number of  Exercised Units	Weighted Average Exercised Price		Number of Exercisable Units	Weighted Average Exercisable Price
Stock options	—	$	—	322,117	$	19.96
Stock appreciation rights	—	$	—	46,572	$	14.06