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Stock-based Compensation
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation
7.
STOCK-BASED COMPENSATION
Stock Unit Awards
Along with cash-based salaries and performance-based annual cash incentive awards, stock unit awards represent an important element of compensation to our employees. Restricted stock unit ("RSU") and performance stock unit ("PSU") awards activity is presented in the following tables.
 
Shares (thousands)
 
Weighted Average
Grant Date
Fair Value
Weighted Average
Remaining
Contractual Life
(in years)
Unvested as of June 30, 2019
696.3

 
$
144.17

2.25
Granted
1,130.1

 
141.14

 
Vested
(45.8
)
 
122.48

 
Forfeited
(8.1
)
 
138.96

 
Unvested as of September, 2019
1,772.5

 
$
142.82

2.59
 
 
 
 
 
Unvested as of June 30, 2018
750.3

 
$
131.09

2.36
Granted
5.8

 
144.43

 
Vested
(81.2
)
 
123.08

 
Forfeited
(35.5
)
 
136.07

 
Unvested as of September 30, 2018
639.4

 
$
131.93

2.21
 
Shares (thousands)
 
Weighted Average
Grant Date
Fair Value
Weighted Average
Remaining
Contractual Life
(in years)
Unvested as of December 31, 2018
652.7

 
$
131.32

2.02
Granted
1,410.3

 
149.22

 
Vested
(268.3
)
 
116.25

 
Forfeited
(22.2
)
 
134.54

 
Unvested as of September, 2019
1,772.5

 
$
142.82

2.59
 
 
 
 
 
Unvested as of December 31, 2017
727.7

 
$
118.96

1.24
Granted
225.8

 
161.87

 
Vested
(259.3
)
 
122.63

 
Forfeited
(54.8
)
 
132.64

 
Unvested as of September 30, 2018
639.4

 
$
131.93

2.21

We determine the fair value of RSUs, subject only to service requirements, based on the closing market price of our common stock on the grant date. PSUs are subject to service requirements and one or more performance measures, including (i) performance conditions (e.g. achievement against earnings per share targets) and (ii) for certain awards, a market condition (e.g. total shareholder return performance against a peer group). We determine the fair value of PSUs based on the closing market price of our common stock on the grant date taking into consideration the likelihood of achieving each performance condition and the market condition valuation, as applicable, based on the output of Monte Carlo simulations.
During the three months ended September 30, 2019, we granted 1,111.3 thousand shares of RSU awards to HFF employees in conjunction with the HFF acquisition. Of this total, 57% represented grants for retention of HFF employees, while the balance represented awards granted to replace existing unvested HFF RSUs as of the acquisition date.
As of September 30, 2019, we had $157.1 million of unamortized deferred compensation related to unvested restricted stock units, which we anticipate recognizing over varying periods into 2023; $105.9 million relates to the awards issued in conjunction with the HFF acquisition.