During 2021 we had four types of share-based awards outstanding to our employees and directors: stock options, restricted stock units, performance-based stock units, and market stock units. All performance-based stock units were vested as of December 31, 2021. We believe that our share-based awards align the interests of our employees and directors with those of our stockholders.

We grant options under our stock incentive plan at fair value on the date of grant. The options generally vest over or at the end of three years based on service conditions and expire seven or ten years from the date of grant. Restricted stock units generally vest over three or four years. Performance-based stock units had a multi-year performance period and vested approximately two or three years from the grant date. Market stock units granted during 2020 have a three-year performance period and will vest at the end of such period based on total shareholder return.

We recognize share-based compensation expense for options, restricted stock units, and performance-based stock units on a straight-line basis over the vesting period. We account for forfeitures as they occur. We recognize share-based compensation expense for market stock units if the requisite service period is rendered, even if the market condition is never satisfied. All awards generally provide for accelerated vesting upon a change in control or normal or early retirement (as defined in the applicable equity award agreement or stock incentive plan). At December 31, 2021, we had reserved approximately 1.1 million shares for future equity grants under our stock incentive plans.

Following are certain amounts recognized in the consolidated statements of operations for share-based compensation arrangements for the years ended December 31, 2021, 2020, and 2019. We did not capitalize any share-based compensation costs during these periods.

	Year Ended
	December 31,		December 31,		December 31,
(In millions)	2021		2020		2019
Share-based compensation included in cost of revenue	$	2.5	$	2.7	$	2.2
Share-based compensation included in selling, general and administrative expenses		7.6		6.2		3.4
Share-based compensation included in restructuring and related charges		—		0.8		—
Share-based compensation included in continuing operations	$	10.1	$	9.7	$	5.6
Share-based compensation included in discontinued operations		—		4.4		13.2
Total share-based compensation	$	10.1	$	14.1	$	18.8
Total income tax benefit recognized in continuing operations		2.6		2.5		1.4

As of December 31, 2021, there was $10.2 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under our stock incentive plan. That total cost is expected to be recognized over a weighted average period of 1.4 years.

We use a lattice-based binomial option valuation model ("lattice binomial model") to estimate the fair values of stock options. We base expected volatility on historical volatility due to the low volume of traded options on our stock. The expected term of options granted is derived from the output of the lattice binomial model and represents

the period of time that options granted are expected to be outstanding. We used historical data to estimate expected option exercise and post-vesting employment termination behavior within the lattice binomial model.

The following table sets forth the weighted average grant-date fair values of options and the weighted average assumptions we used to develop the fair value estimates for the years ended December 31, 2021 and 2020. There were no stock options granted during fiscal 2019.

	Year Ended December 31, 2021			Year Ended December 31, 2020			Year Ended December 31, 2019
Weighted average grant-date fair value of options per share	$	13.31		$	8.20		$	—
Expected term (in years)		6.3			6.2			—

Assumptions:
Expected volatility		63.1	%		63.2	%		—
Expected dividends		—			—			—
Risk-free rate		1.4	%		0.7	%		—

A summary of options as of December 31, 2021 and the activity during the year then ended is presented below:

Options	Shares (In thousands)			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (In years)		Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2021		422		$	17.83
Granted		178			26.48
Exercised		(81	)		12.47
Forfeited		(24	)		17.64
Expired		(2	)		35.82
Outstanding at December 31, 2021		493		$	21.75		5.4	$	2,805
Exercisable at December 31, 2021		122		$	22.82		3.4	$	906

The total intrinsic value, which represents the difference between the market price of the underlying common stock and the option's exercise price, of options exercised during the years ended December 31, 2021, 2020, and 2019 was $0.9 million, $0.6 million, and $0.6 million, respectively.

Cash received from option exercises under all share-based payment arrangements during 2021 was $0.7 million. The actual tax benefit realized during 2021 for the tax deductions from option exercises totaled $0.2 million. We issue new shares of common stock upon exercise of stock options or vesting of restricted stock units, restricted stock awards, performance-based stock units, and market stock units.

The fair value of restricted stock units and performance-based stock units is determined based on the closing bid price of the Company's common stock on the grant date. The weighted average grant-date fair value of restricted stock units granted during the years ended December 31, 2021, 2020, and 2019 was $24.15, $11.17, and $19.68, respectively. The weighted average grant-date fair value of performance-based stock units granted during the years ended December 31, 2020 and 2019 was $21.49 and $20.20, respectively. No performance-based stock units were granted during 2021. The Monte Carlo simulation valuation model is used to determine the fair value of market stock units. The weighted average grant-date fair value of all market stock units granted during 2020 was $18.84. No market stock units were granted during 2021 or 2019.

The three tables below set forth a summary of our nonvested shares as of December 31, 2021, as well as activity during the year then ended. The total grant-date fair value of shares vested during the years ended December 31, 2021, 2020, and 2019 was $10.9 million, $13.6 million, and $23.5 million, respectively.

	Restricted Stock Units
	Shares (In thousands)			Weighted- Average Grant Date Fair Value
Nonvested at January 1, 2021		1,241		$	11.58
Granted		164			24.15
Vested		(803	)		11.43
Forfeited		(21	)		15.48
Nonvested at December 31, 2021		581		$	15.20

	Performance Stock Units
	Shares (In thousands)			Weighted- Average Grant Date Fair Value
Nonvested at January 1, 2021		86		$	20.30
Vested		(84	)		20.31
Forfeited		(2	)		19.71
Nonvested at December 31, 2021		—		$	—

	Market Stock Units
	Shares (In thousands)		Weighted- Average Grant Date Fair Value
Nonvested at January 1, 2021		150	$	18.84
Nonvested at December 31, 2021		150	$	18.84