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Share-Based Payments | 6 Months Ended
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Jun. 30, 2019
Share-based Payment Arrangement [Abstract] |
Share-Based Payments | Share-Based Payments In February and May 2019, we issued a total of 0.5 million restricted stock awards to members of our management team and our board of directors. Approximately 0.2 million of these awards contain only a service condition, while the remainder contain both a service and a performance condition. For the awards that include a performance condition, the number of shares that will ultimately be granted to employees may vary based on the Company’s performance during the applicable two year performance measurement period. Additionally, in February 2019, we granted 0.1 million stock options to members of our management team. The fair value of these awards and options was determined using the policies described in Note 1, Summary of Significant Accounting Policies, and Note 13, Share-Based Payments, to the consolidated financial statements accompanying the 2018 Form 10‑K. In conjunction with the EHHI acquisition discussed in Note 7, Redeemable Noncontrolling Interests, we granted stock appreciation rights (“SARs”) based on Holdings common stock to certain members of EHHI management at closing. Half of the SARs vested on December 31, 2018 with the remainder vesting on December 31, 2019. Upon exercise, each SAR must be settled for cash in the amount by which the per share fair value of Holdings’ common stock on the exercise date exceeds the per share fair value on the grant date. In February 2019, members of the management team exercised a portion of their vested SARs for approximately $13 million in cash. As of June 30, 2019, the fair value of the SARs was approximately $123 million, all of which is included in Accrued expenses and other current liabilities in the condensed consolidated balance sheet. In July 2019, we received notices to exercise the remainder of the vested SARs for approximately $55 million in cash. We expect to make that payment during the third quarter of 2019. For additional information, see Note 13, Share-Based Payments, to the consolidated financial statements accompanying the 2018 Form 10‑K.

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