Approved Grants Equity Plans [Table Text Block] |
Following is a summary of approved grants by the Compensation Committee:
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Grant Year |
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Vesting Date |
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Plan Issued Under |
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Restricted Stock Units Granted |
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Performance Shares Granted |
2018 |
|
12/31/2020 |
|
A&R 2015 Equity Plan |
|
685,599 |
|
|
675,599 |
|
2017 |
|
12/31/2019 |
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A&R 2015 Equity Plan |
|
532,358 |
|
|
249,106 |
|
2017 |
|
12/31/2019 |
|
Amended 2015 Equity Plan |
|
553,725 |
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|
553,725 |
|
2016 |
|
12/31/2018 |
|
2015 Equity Plan |
|
3,406,716 |
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|
— |
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Stock Incentive Plans Disclosure [Table Text Block] |
Following is a summary of our performance share award agreements currently outstanding:
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Performance Share Plan Year |
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Performance Shares Granted |
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Forfeitures to Date |
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Expected to Vest |
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Grant Date |
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Grant Date Fair Value |
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Performance Period |
2018 |
|
675,599 |
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|
2,236 |
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|
673,363 |
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2/21/2018 |
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$ |
11.93 |
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1/1/2018 - 12/31/2020 |
2017 |
|
249,106 |
|
|
— |
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|
249,106 |
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6/26/2017 |
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$ |
10.74 |
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5/31/2017 - 12/31/2019 |
2017 |
|
553,725 |
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|
51,471 |
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|
502,254 |
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2/21/2017 |
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$ |
19.69 |
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1/1/2017 - 12/31/2019 |
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Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] |
Stock option, restricted stock awards and performance share activity under our long-term equity plans and Directors’ Plans are as follows:
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2018 |
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2017 |
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2016 |
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Shares |
|
Shares |
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Shares |
Stock options: |
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|
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Outstanding at beginning of year |
599,870 |
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|
599,870 |
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|
607,489 |
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Exercised |
(36,640 |
) |
|
— |
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|
— |
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Forfeited/canceled |
— |
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|
— |
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(7,619 |
) |
Outstanding at end of year |
563,230 |
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|
599,870 |
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|
599,870 |
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Restricted awards: |
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Outstanding and restricted at beginning of year |
4,776,483 |
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|
5,461,783 |
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2,338,070 |
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Granted during the year |
795,487 |
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|
1,196,731 |
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|
3,571,337 |
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Vested and issued |
(627,567 |
) |
|
(1,813,315 |
) |
|
(271,988 |
) |
Forfeited/canceled |
(140,155 |
) |
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(68,716 |
) |
|
(175,636 |
) |
Outstanding and restricted at end of year |
4,804,248 |
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4,776,483 |
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5,461,783 |
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Performance shares: |
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Outstanding at beginning of year |
1,848,312 |
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|
1,368,469 |
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|
1,496,489 |
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Granted during the year |
675,599 |
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|
802,831 |
|
|
— |
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Vested and issued |
(489,953 |
) |
|
— |
|
|
(59,260 |
) |
Forfeited/canceled |
(609,235 |
) |
|
(322,988 |
) |
|
(68,760 |
) |
Outstanding at end of year |
1,424,723 |
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|
1,848,312 |
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|
1,368,469 |
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Vested or expected to vest as of December 31, 20181
|
6,792,201 |
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Directors’ retainer and voluntary shares: |
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Outstanding at beginning of year |
— |
|
|
— |
|
|
— |
|
Granted during the year |
27,300 |
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|
25,476 |
|
|
— |
|
Vested and issued |
(27,300 |
) |
|
(25,476 |
) |
|
— |
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Outstanding at end of year |
— |
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— |
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— |
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Reserved for future grants or awards at end of year: |
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Employee plans |
12,949,420 |
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Directors’ plans |
502,378 |
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Total |
13,451,798 |
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1 With the adoption of ASU 2016-09, we assume all shares will vest until the date of vesting or forfeiture.
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Employee Stock Awards Outstanding [Table Text Block] |
A summary of our outstanding share-based awards as of December 31, 2018 is shown below:
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Shares |
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Weighted
Average
Grant Date
Fair Value
|
Outstanding, beginning of year |
7,224,665 |
|
|
$ |
6.79 |
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Granted |
1,498,386 |
|
|
$ |
9.51 |
|
Vested and issued |
(1,181,460 |
) |
|
$ |
7.38 |
|
Forfeited/canceled |
(749,390 |
) |
|
$ |
10.22 |
|
Outstanding, end of year |
6,792,201 |
|
|
$ |
6.90 |
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|