Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

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

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 for the three months ended March 31, 2016 and 2015 was $2.9 million and $2.2 million, respectively. At March 31, 2016, there was $11.3 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.7 years. During the three months ended March 31, 2016, the supplemental incentive accrual increased $0.2 million to $1.4 million.

The following table summarizes the grants awarded during the three months ended March 31, 2016:



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
January 20, 2016	1,030,833	$	1.81	165,479	$	0.86	1,428,314	$	2.92
March 21, 2016	685,633	$	5.76	17,772	$	2.84	8,763	$	4.90

The following options and stock appreciation rights were exercisable during the three months ended March 31, 2016:



Award Type	Number of Exercised Units	Weighted Average Exercised Price		Number of Exercisable Units	Weighted Average Exercisable Price
Stock options	—	$	—	348,279	$	17.68
Stock appreciation rights	—	$	—	46,572	$	14.06