Stock-Based Compensation

6 Months Ended

Jun. 30, 2016

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		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		0.1		0.2		0.1
Expense included primarily in selling, general and administrative expense	$	0.1	$	0.1	$	0.3	$	0.2

Total recognized tax benefit	$	—	$	—	$	—	$	—

As of June 30, 2016, there was $0.9 million of unrecognized compensation cost, adjusted for estimated forfeitures, of which $0.8 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 2.2 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.



	Six Months Ended June 30,
	2016	2015
Risk-free interest rate	1.9%	1.9%
Expected volatility	75%	75%
Expected option life (years)	6	6
Weighted-average grant date fair value	$1.77	$2.89
Options granted	15,000	300,000

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details