Employee Share-Based Incentive Compensation Plans (Tables) - White Mountains

3 Months Ended

Mar. 31, 2019

Share-based compensation arrangement by share-based payment award

Summary of performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan

The following table presents the performance share activity for the three months ended March 31, 2019 and 2018 for performance shares granted under the WTM Incentive Plan:



	Three Months Ended March 31,
	2019					2018
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	40,616		$	31.7		50,515		$	45.8
Shares paid ⁽¹⁾	(13,715	)	(18.1		)	(23,186	)	(28.4		)
New grants	13,700		—			14,105		—
Forfeitures and cancellations⁽²⁾	1		.2			(818	)	.3
Expense recognized	—		9.3			—		3.3
End of period	40,602		$	23.1		40,616		$	21.0

⁽¹⁾WTM performance share payments in 2019 for the 2016-2018 performance cycle, which were paid in cash in March 2019, ranged from 139% to 166% of target. WTM performance share payments in 2018 for the 2015-2017 performance cycle, which were paid in cash in March 2018, ranged from 145% to 147% of target.

⁽²⁾Amounts include changes in assumed forfeitures, as required under GAAP.

Share-based Compensation, Performance Shares Award Outstanding Activity

The following table presents performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan as of March 31, 2019 for each performance cycle:



	Three Months Ended March 31, 2019
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2017 – 2019	14,070		$	16.9
2018 – 2020	13,450		5.5
2019 – 2021	13,700		1.0
Sub-total	41,220		23.4
Assumed forfeitures	(618	)	(.3		)
March 31, 2019	40,602		$	23.1

Summary of restricted shares activity

The following table presents the unrecognized compensation cost associated with the outstanding restricted share awards for the three months ended March 31, 2019 and 2018:



	Three Months Ended March 31,
	2019					2018
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	41,510		$	12.5		53,755		$	14.3
Issued	13,700		12.8			14,105		11.4
Vested	(13,715	)	—			(25,381	)	—
Forfeited	—		—			(969	)	(.2		)
Expense recognized	—		(2.5		)	—		(3.3		)
End of period	41,495		$	22.8		41,510		$	22.2