
6.	STOCK-BASED COMPENSATION

The SAIP provides for the granting of various stock awards to eligible employees of JLL. Such awards have historically included restricted stock units and options to purchase a specified number of shares of common stock, although we have not granted stock options since 2003. There were approximately 400 thousand shares available for grant under the SAIP as of December 31, 2017. We also have a stock-based compensation plan for our United Kingdom-based employees, the SAYE plan, that allows for the purchase of stock at a 15% discount from the market price at the beginning of the plan's vesting periods.

Stock-based compensation expense is included within Compensation and benefits expense on the Consolidated Statements of Comprehensive Income. Stock-based compensation expense consisted of the following.



	Year Ended December 31,
($ in millions)	2017		2016	2015
Restricted stock unit awards	$	23.8	25.5	20.7
SAYE	1.4		1.4	2.1
Total	$	25.2	26.9	22.8

Restricted Stock Unit Awards

Restricted stock unit activity is presented in the below table.



	Shares (in thousands)		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (in years)
Unvested as of December 31, 2014	745.3		$	90.43
Granted	186.3		159.30
Vested	(196.4	)	78.45
Forfeited	(29.2	)	94.20
Unvested as of December 31, 2015	706.0		111.78		2.03
Granted	299.3		107.74
Vested	(203.6	)	96.37
Forfeited	(50.8	)	117.48
Unvested as of December 31, 2016	750.9		113.97		1.71
Granted	188.4		119.08
Vested	(186.5	)	99.23
Forfeited	(25.1	)	117.07
Unvested as of December 31, 2017	727.7		$	118.96	1.24

We determine the fair value of restricted stock units based on the closing market price of the Company's common stock on the grant date. As of December 31, 2017, we had $23.1 million of unamortized deferred compensation related to unvested restricted stock units, which is anticipated to be recognized over varying periods into 2020.

Shares vested during the years ended December 31, 2017, 2016 and 2015, had grant date fair values of $18.5 million, $19.6 million, and $15.4 million, respectively. Shares granted during the years ended December 31, 2017, 2016 and 2015 had grant date fair values of $22.4 million, $32.2 million and $29.7 million, respectively.

Other Stock-Based Compensation Programs

As previously discussed, we also maintain the SAYE plan, a stock-based compensation plan for our United Kingdom-based employees. There were approximately 240 thousand shares available for grant under the SAYE plan as of December 31, 2017.

Options activity under the SAYE plan is presented in the following table.



	Year Ended December 31,
(options in thousands)	2017		2016
Options granted	85		—
Exercise price - options granted	$	90.97	$	—

Options exercised	28		20
Weighted average exercise price	$	121.70	$	70.37

The fair values of options granted under the SAYE plan are amortized over their respective vesting periods. There were approximately 133 thousand and 128 thousand options outstanding under the SAYE plan as of December 31, 2017 and 2016, respectively.