Stock-Based Compensation

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2016 and 2015 was $2.3 million and $2.6 million and $5.2 million and $4.8 million, respectively. At June 30, 2016, there was $9.5 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.5 years. During the six months ended June 30, 2016, the supplemental incentive accrual increased $0.4 million to $1.6 million.

The following table summarizes the grants awarded during the six months ended June 30, 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	$	1.78
March 21, 2016	685,633	$	5.76	17,772	$	2.84	8,763	$	3.76

The following options and stock appreciation rights were exercisable during the six months ended June 30, 2016:



Award Type	Number of Exercised Units	Weighted Average Exercised Price		Number of Exercisable Units	Weighted Average Exercisable Price
Stock options	—	$	—	423,706	$	15.15
Stock appreciation rights	—	$	—	46,572	$	14.06