Share-based Compensation (Notes)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation

Share-based Compensation

AK Holding’s Stock Incentive Plan permits the granting of nonqualified stock option, restricted stock, performance share and restricted stock unit awards to Directors, officers and other employees of the Company. At the 2014 Annual Meeting held on May 29, 2014, the stockholders of the Company approved an amendment to the Stock Incentive Plan to increase the shares authorized for issuance under the plan by 4.0 million shares. The following table summarizes information about share-based compensation expense, which the Company has estimated will be $8.7 for 2014:

	Three Months Ended September 30,				Nine Months Ended September 30,
Share-based Compensation Expense	2014		2013		2014		2013
Stock options	$	0.2	$	0.1	$	1.5	$	1.2
Restricted stock	0.4		0.3		2.7		2.5
Restricted stock units issued to Directors	0.4		0.3		0.9		0.7
Performance shares	0.6		1.0		2.1		3.0
Total share-based compensation expense	$	1.6	$	1.7	$	7.2	$	7.4

The Company granted stock options on 551,740 shares during the nine months ended September 30, 2014, at a weighted-average fair value of $3.50 per share of stock option. There have been 11,881 options exercised in 2014.

The Company granted restricted stock awards of 487,290 shares during the nine months ended September 30, 2014, at a weighted-average fair value of $6.67 per share. The total intrinsic value of restricted stock awards that vested (i.e., restrictions lapsed) during the nine months ended September 30, 2014 was $2.8.

The Company granted performance share awards of 512,400 shares during the nine months ended September 30, 2014, at a weighted-average fair value of $6.40 per share.