Stock-Based Compensation

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Effective as of June 10, 2019, we amended the OUTFRONT Media Inc. Amended and Restated Omnibus Stock Incentive Plan (the “Stock Plan”) to, among other things, increase the number of shares of our common stock reserved for issuance under our prior plan by 5,100,000 shares, so that the aggregate number of shares reserved for issuance under the Stock Plan is 13,100,000 shares of our common stock.

The following table summarizes our stock-based compensation expense for the three and six months ended June 30, 2019 and 2018.



	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in millions)	2019			2018			2019			2018
Stock-based compensation expenses (restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”)), before income taxes	$	5.5		$	5.6		$	10.8		$	10.6
Tax benefit	(0.4		)	(0.4		)	(0.7		)	(0.7		)
Stock-based compensation expense, net of tax	$	5.1		$	5.2		$	10.1		$	9.9

As of June 30, 2019, total unrecognized compensation cost related to non-vested RSUs and PRSUs was $34.8 million, which is expected to be recognized over a weighted average period of 2.2 years.

RSUs and PRSUs

The following table summarizes activity for the six months ended June 30, 2019, of RSUs and PRSUs issued to our employees.



	Activity		Weighted Average Per Share Grant Date Fair Market Value
Non-vested as of December 31, 2018	1,723,980		$	22.39
Granted:
RSUs	828,274		21.57
PRSUs	376,418		21.41
Vested:
RSUs	(584,870	)	21.99
PRSUs	(246,542	)	21.99
Forfeitures:
RSUs	(31,009	)	22.23
PRSUs	(5,250	)	22.17
Non-vested as of June 30, 2019	2,061,001		22.05

Stock Options

The following table summarizes activity for the six months ended June 30, 2019, of stock options issued to our employees.



	Activity		Weighted Average Exercise Price
Outstanding as of December 31, 2018	141,847		$	23.08
Exercised	(15,319	)	10.78
Outstanding as of June 30, 2019	126,528		24.57

Exercisable as of June 30, 2019	126,528		24.57