NOTE 12: STOCK-BASED COMPENSATION

On May 5, 2016, the 2016 Incentive Compensation Plan (the “Incentive Compensation Plan”) and the Stock Compensation Plan for Non-Employee Directors (the “Directors Plan” and, together with the Incentive Compensation Plan, the “2016 Equity Plans”) were approved by the Company’s shareholders for the purpose of granting stock awards to officers, employees and Board members of the Company and its subsidiaries, as further described in Note 14 to the Company’s audited consolidated financial statements for the year ended December 31, 2018. There are 5,100,000 shares of Class A Common Stock authorized for issuance under the Incentive Compensation Plan and 200,000 shares of Class A Common Stock authorized for issuance under the Directors Plan, of which 2,279,348 shares and 157,588 shares, respectively, were available for grant as of March 31, 2019.

Stock-based compensation for the three months ended March 31, 2019 and March 31, 2018 totaled $5 million in each period.

A summary of activity and weighted average exercise prices related to the NSOs is as follows:



	Three Months Ended March 31, 2019
	Shares		Weighted Avg. Exercise Price
Outstanding, beginning of period	2,431,397		$	36.54
Exercised	(220,792	)	31.74
Forfeited	(44,740	)	33.10
Cancelled	(1,860	)	50.49
Outstanding, end of period	2,164,005		$	37.09
Vested and exercisable, end of period	1,508,539		$	39.02

A summary of activity and weighted average fair values related to the RSUs is as follows:



	Three Months Ended March 31, 2019
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	1,123,554		$	35.46
Granted	467,430		46.03
Dividend equivalent units granted	6,376		46.04
Vested	(369,339	)	34.48
Dividend equivalent units vested	(22,281	)	37.51
Forfeited	(29,245	)	36.55
Dividend equivalent units forfeited	(1,227	)	38.45
Outstanding and nonvested, end of period	1,175,268		$	39.96

A summary of activity and weighted average fair values related to the restricted stock awards is as follows:

A summary of activity and weighted average fair values related to the PSUs and Supplemental PSUs is as follows:



	Three Months Ended March 31, 2019
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	161,515		$	37.30
Granted (1)	49,342		46.43
Dividend equivalent units granted	1,487		40.95
Vested	(119,282	)	36.60
Dividend equivalent units vested	(6,548	)	37.19
Outstanding and nonvested, end of period	86,514		$	42.06


(1)	Represents shares of PSUs for which performance targets have been established and which are deemed granted under U.S. GAAP.

As of March 31, 2019, the Company had not yet recognized compensation cost on nonvested awards as follows (dollars in thousands):



	Unrecognized Compensation Cost		Weighted Avg. Remaining Recognition Period
Nonvested awards	$	50,268	2.6

Three Months Ended
March 31, 2019

Weighted Avg.
Fair Value

Outstanding, beginning of period

Outstanding and nonvested, end of period