XML 75 R46.htm IDEA: XBRL DOCUMENT v3.19.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
Share-Based Payment Arrangements [Abstract]  
Non-cash employee compensation expenses recognized in general and administrative expense in the Statements of Operations and Comprehensive Income
Share-based compensation expenses recognized in general and administrative expense in the Statements of Operations and Comprehensive (Loss)/Income, are as follows:
 
For the Years Ended December 31,
 
2018
 
2017
Share options
$
1,248

 
$
1,229

Deferred share units
565

 
387

Share appreciation rights
(502
)
 
482

Performance share units
(33
)
 
10,456

 
$
1,278

 
$
12,554
Fair value assumptions estimated at the grant dates using the Black-Scholes option-pricing model
Fair values of options granted during the year ended December 31, 2018 and 2017 were based on the weighted average assumptions noted in the following table:
 
For the Years Ended December 31,
 
2018
 
2017
Expected volatility
70.06%
 
73.70%
Risk-free interest rate
2.39%
 
1.86%
Expected lives
5.68 years
 
5.99 years
Schedule of number and weighted average remaining contractual life of outstanding share options
A summary of option activity under the Company's Stock Option Plan during the years ended December 31, 2018 and 2017 is as follows: 
 
Options
('000)
 
Weighted–
Average
Exercise
price ($CAD)
 
Weighted–
Average
Remaining
Contractual
Term (Years)
Outstanding as of December 31, 2016
3,223

 
6.45

 
5.7
Granted
470

 
6.40

 
9.7
Exercised
(5
)
 
2.75

 
7.3
Forfeited
(128
)
 
11.35

 
1.8
Expired
(234
)
 
10.95

 
0
Outstanding as of December 31, 2017
3,326

 
5.93

 
5.9
Granted
642

 
4.61

 
9.2
Exercised
(25
)
 
3.24

 
1.6
Forfeited
(116
)
 
8.96

 
3.6
Expired
(329
)
 
9.35

 
0
Outstanding as of December 31, 2018
3,498

 
5.28

 
6.3
 
 
 
 
 
 
Exercisable as of December 31, 2017
2,536

 
6.30

 
5.1
Exercisable as of December 31, 2018
2,664

 
5.42

 
5.5
Schedule of range of exercise prices of outstanding share options
The number of options outstanding by strike price as of December 31, 2018 is shown in the following table:
 
 
Options outstanding
 
Options exercisable
 
 
Number outstanding at December 31, 2018
Weighted-average remaining contractual life
Weighted-average exercise price
 
Number outstanding at December 31, 2018
Weighted-average exercise price
Range of exercise price (Cdn$)
 
('000)
(years)
(Cdn$)
 
('000)
(Cdn$)
1.50 to 2.50
 
604

6.1
1.90

 
604

1.90

2.51 to 3.50
 
534

7.1
2.81

 
405

2.82

3.51 to 4.50
 
581

4.9
4.35

 
581

4.35

4.51 to 5.50
 
689

9.1
4.63

 
205

4.68

5.51 to 7.50
 
487

7.7
6.48

 
266

6.46

7.51 to 10.50
 
378

2.9
9.50

 
378

9.50

10.51 to 17.65
 
225

1.9
14.92

 
225

14.92

 
 
3,498

6.3
5.28

 
2,664

5.42

The number of options outstanding by strike price as of December 31, 2017 is shown in the following table:
 
 
Options outstanding
 
Options exercisable
 
 
Number outstanding at December 31, 2017
Weighted-average remaining contractual life
Weighted-average exercise price
 
Number outstanding at December 31, 2017
Weighted-average exercise price
Range of exercise price (Cdn$)
 
('000)
(years)
(Cdn$)
 
('000)
(Cdn$)
1.50 to 2.50
 
617

7
1.90

 
500

1.90

2.51 to 3.50
 
536

8
2.80

 
277

2.80

3.51 to 4.50
 
616

5.8
4.30

 
589

4.30

4.51 to 5.50
 
52

8.8
4.80

 
26

4.90

5.51 to 7.50
 
513

8.5
6.40

 
177

6.40

7.51 to 10.50
 
691

2.3
8.90

 
666

9.00

10.51 to 17.65
 
302

2.5
15.10

 
302

15.10

 
 
3,326

5.9
5.93

 
2,536

6.30
Summary of other equity activity
A summary of the PRSU activity during the year ended December 31, 2018 and 2017:
 
 
For the Years Ended December 31,
 
 
2018
 
2017
Number of PRSUs, beginning of period ('000)
 
339

 
—

Granted
 
480

 
339

Forfeited
 
(28
)
 
—

Number of PRSUs, end of period ('000)
 
791

 
339

A summary of the PSU activity during the year ended December 31, 2018 and 2017:
 
 
For the Years Ended December 31,
 
 
2018
 
2017
Number of PSUs, beginning of period ('000)
 
2,721

 
3,096

Settled
 
(1,548
)
 
(375
)
Number of PSUs, end of period ('000)
 
1,172

 
2,721

xpense).
A summary of the SARs activity during the year ended December 31, 2018 and 2017:
 
 
For the Years Ended December 31,
 
 
2018
 
2017
Number of SARs, beginning of period ('000)
 
533

 
537

Granted
 
304

 
292

Exercised
 
(36
)
 
(158
)
Forfeited
 
(127
)
 
(138
)
Number of SARs, end of period ('000)
 
674

 
533

A summary of DSU activity during the year ended December 31, 2018 and 2017:
 
 
For the Years Ended December 31,
 
 
2018
 
2017
Number of DSUs, beginning of period ('000)
 
1,018

 
1,146

Granted
 
150

 
105

Exercised
 
(82
)
 
(233
)
Number of DSUs, end of period ('000)
 
1,086

 
1,018