Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

STOCK-BASED COMPENSATION

A summary of stock-based compensation costs follows (in millions):



	Three Months Ended March 31,
	2016		2015

Total stock-based compensation costs:
Restricted stock and restricted stock units	$	0.1	$	0.1
Stock options, performance awards and other	0.1		—
Expense included primarily in selling, general and administrative expense	$	0.2	$	0.1

Total recognized tax benefit	$	—	$	—

As of March 31, 2016, there was $0.9 million of unrecognized compensation cost, adjusted for estimated forfeitures, of which $0.9 million relates to stock options and less than $0.1 million relates to unvested restricted stock units. Unrecognized compensation cost is expected to be recognized over a weighted-average period of 2.6 years.

Stock-based compensation cost is measured at the grant date, based on the fair value of the award using the Black-Scholes option pricing model, and is recognized over the vesting period. Stock options vest and become exercisable in equal annual installments over a three or four year period and expire 10 years from the date of grant.

Assumptions used in the Black-Scholes option pricing model to value option grants follow. There were no options granted in the three months ended March 31, 2016.



	Three Months Ended March 31,
	2016	2015
Risk-free interest rate	—	1.91%
Expected volatility	—	75%
Expected option life (years)	—	6
Weighted-average grant date fair value	—	$2.89
Options granted	—	300,000