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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | SHARE-BASED COMPENSATION We measure and account for share-based awards in accordance with ASC Topic 718, “Compensation - Stock Compensation”. Share-based compensation expense associated with stock options with vesting contingent upon the achievement of service conditions is recognized on a straight-line basis, net of estimated forfeitures of unvested stock options, over the requisite service period the awards are expected to vest. We estimate the aggregate intrinsic value of stock options with vesting contingent upon the achievement of service conditions as of the date the award was granted using the Black-Scholes option pricing model. The Black-Scholes option-pricing model requires the use of certain input variables, such as expected volatility, risk-free interest rate and expected award life. In April 2015, the Company granted 22,908 restricted stock awards (“RSAs”) to certain non-employee Board of Directors, pursuant to the 2014 Equity Plan. The RSAs will become fully vested in April 2016. The RSAs have a weighted average grant-date fair value of $8.73 share. The fair value of the outstanding shares of restricted stock awards will be recorded as share-based compensation expense over the vesting period. Share-Based Award Activity A summary of restricted stock awards activity during the nine months ended September 30, 2015 is as follows:
| Number of Shares (in thousands) |  | Weighted Average Grant Date Fair Value per Share
Nonvested, December 31, 2014 | — |  |  | $ | — |
Granted | 23 |  |  | $ | 8.73 |
Vested | — |  |  | $ | — |
Forfeited | — |  |  | $ | — |
Nonvested, September 30, 2015 | 23 |  |  | $ | 8.73 |
A summary of stock option activity during the nine months ended September 30, 2015 is as follows:
| Number of Shares (in thousands) |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding, December 31, 2014 | 500 |  |  | $ | 7.49 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Options outstanding, September 30, 2015 | 500 |  |  | $ | 7.49 |  |  | 9.63 |  |  | $ | 397 |
Options exercisable, September 30, 2015 | — |  |  | $ | — |  |  | — |  |  | $ | — |
A summary of our unvested stock options during the nine months ended September 30, 2015 is as follows:
| Number of Shares (in thousands) |  | Weighted Average Per Share Grant Date Fair Value
Unvested, December 31, 2014 | 500 |  |  | $ | 2.88 |
Granted | — |  |  | $ | — |
Vested | — |  |  | $ | — |
Forfeited | — |  |  | $ | — |
Unvested, September 30, 2015 | 500 |  |  | $ | 2.88 |
Valuation of Share-Based Awards The weighted average per share grant date fair value of restricted stock awards granted during the nine months ended September 30, 2015 was $8.73, determined based on the market price of our common stock on the date of grant, which approximates the intrinsic value. We utilize the Black-Scholes option pricing model for estimating the grant date fair value of stock options. There were no stock options issued during the nine months ended September 30, 2015 and September 30, 2014. Share-Based Compensation Expense Share-based compensation expense was $0.1 million and $0.3 million for the three and nine months ended September 30, 2015, respectively. There were no share-based awards issued prior to October 27, 2014. At September 30, 2015, the estimated total remaining unamortized share-based compensation expense related to unvested restricted stock awards and stock options, net of forfeitures, was $1.3 million which is expected to be recognized over a weighted-average period of 3.7 years.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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