Our 2015 Stock Incentive Plan (the "2015 Plan") has 16,000,000 shares of Class A common stock authorized for grants of stock options, restricted stock units ("RSU"), restricted stock and stock appreciation rights to employees and non-employee directors. Under the 2015 Plan, awards are made to employees and directors at the discretion of the Compensation Committee.

For the three and six months ended June 30, 2020 and 2019, we recognized charges for stock-based compensation of US$ 0.8 million and US$ 1.7 million; and US$ 1.1 million and US$ 2.1 million respectively, as a component of selling, general and administrative expenses in our condensed consolidated statements of operations and comprehensive income / loss.

Grants of options allow the holders to purchase shares of Class A common stock at an exercise price, which is generally the market price prevailing at the date of the grant, with vesting between one and four years after the awards are granted. There was no option activity during the six months ended June 30, 2020. The summary of stock options outstanding as at June 30, 2020 and December 31, 2019 is presented below:



	Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2019	2,011,392	$	2.32	5.58	$	4,436
Outstanding and Exercisable at June 30, 2020	2,011,392	$	2.32	5.08	$	2,444

When options are vested, holders may exercise them at any time up to the maximum contractual life of the instrument which is specified in the option agreement. At June 30, 2020, the maximum life of options that were issued under the 2015 Plan was ten years. Upon providing the appropriate written notification, holders pay the exercise price and receive shares. Shares delivered in respect of stock option exercises are newly issued shares.

The aggregate intrinsic value (the difference between the stock price on the last day of trading of the second quarter of 2020 and the exercise prices multiplied by the number of in-the-money options) represents the total intrinsic value that would have been received by the option holders had they exercised all in-the-money options as at June 30, 2020. This amount changes based on the fair value of our Class A common stock.

Each RSU represents a right to receive one share of Class A common stock of the Company for each RSU that vests in accordance with a time-based vesting schedule, generally between one to four years from the date of grant. Holders of RSU awards are not entitled to receive cash dividend equivalents prior to the vesting of awards and are not entitled to vote shares underlying awards.



	Number of Shares / Units		Weighted Average Grant Date Fair Value
Unvested at December 31, 2019	2,332,681		$	3.69
Vested	(994,270	)	3.58
Unvested at June 30, 2020	1,338,411		$	3.77

The intrinsic value of unvested RSUs was US$ 4.7 million as at June 30, 2020. Total unrecognized compensation cost related to unvested RSUs as at June 30, 2020 was US$ 4.3 million and is expected to be recognized over a weighted-average period of 2.07 years.

Each RSU with performance conditions (“PRSU”) represents a right to receive one share of Class A common stock of the Company for each PRSU that vests in accordance with a performance-based vesting schedule. The performance-based vesting schedule sets forth specified objectives for unlevered free cash flow and OIBDA over defined periods and by defined dates. Holders of PRSU awards are not entitled to receive cash dividend equivalents prior to the vesting of awards and are not entitled to vote shares underlying awards.

Vesting of the currently outstanding PRSUs is subject to the achievement of cumulative unlevered free cash flow and OIBDA targets corresponding to two, three or four-year performance periods ending December 31, 2020, 2021 and 2022, respectively. The maximum number of PRSUs that may be earned is 200% of the corresponding target. At June 30, 2020 and December 31, 2019 there were 501,572 unvested shares with a weighted-average grant date fair value of US$ 3.19. During the three and six months ended June 30, 2020 there were no new PRSU awards granted or vested.

The intrinsic value of unvested PRSUs was US$ 1.8 million as at June 30, 2020. Total unrecognized compensation cost related to unvested PRSUs as at June 30, 2020 was US$ 1.3 million of which US$ 0.1 million is related to performance targets currently considered probable of being achieved and will be recognized over a period of less than one year.