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Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation expense

The following table provides the total share-based compensation expense included in general and administrative expenses during the years ended December 31, 2019, 2018 and 2017:

	2019				2018				2017
Management and director options	$	—			$	275			$	648
Restricted shares with service condition(1)	1,927				611				(331		)
Restricted shares with service and performance condition	5,134				4,070				3,282
	$	7,061			$	4,956			$	3,599

(1)

Net of forfeitures of $nil in the year ended December 31, 2019 (December 31, 2018 - $nil and December 31, 2017 - $0.9 million)

Schedule of management and director options activity

The management and director options activity for the years ended December 31, 2019, 2018 and 2017 were as follows:

	Number of options			Weighted average exercise price
Balance as of January 1, 2017	9,596,993			$	13.64
Forfeited	(558,138	)		18.00
Exercised	(150,802	)		10.00
Balance as of January 1, 2018	8,888,053			13.43
Forfeited	—			—
Exercised	—			—
Balance as of January 1, 2019	8,888,053			13.43
Forfeited	(393,717	)		14.73
Exercised	(187,678	)		10.00
Balance as of December 31, 2019	8,306,658			$	13.45

Schedule of management and director options outstanding

The following table summarizes information about the Company’s management and director share options outstanding as of December 31, 2019:

	Options outstanding									Options exercisable
Range of exercise prices	Number of options			Weighted average exercise price				Remaining contractual life		Number of options			Weighted average exercise price
$10.00 - $10.89	4,774,694			$	10.04			2.1 years		4,774,694			$	10.04
$15.05 - $16.89	1,800,866			$	15.92			2.3 years		1,800,866			$	15.92
$20.00 - $25.05	1,731,098			$	20.28			2.2 years		1,731,098			$	20.28
	8,306,658			$	13.45			2.2 years		8,306,658			$	13.45

Schedule of restricted share award activity

Restricted share award activity for the restricted shares with only a service condition for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Number of non- vested restricted shares			Weighted average grant date fair value
Balance as of January 1, 2017	301,043			$	11.12
Granted	36,418			12.15
Forfeited	(71,429	)		14.00
Vested	(247,823	)		10.36
Balance as of January 1, 2018	18,209			12.15
Granted	50,644			13.45
Vested	(44,788	)		12.97
Balance as of January 1, 2019	24,065			13.35
Granted	403,360			11.10
Forfeited	(36,907	)		11.31
Vested	(49,751	)		12.40
Balance as of December 31, 2019	340,767			$	11.83

Schedule of restricted shares with a service and performance condition activity

Restricted share award activity for the restricted shares with a service and performance condition for the years ended December 31, 2019, 2018 and 2017 was as follows:

	Number of non- vested restricted shares			Number of non- vested restricted shares probable of vesting			Weighted average grant date fair value
Balance as of January 1, 2017	1,381,740			577,486			$	12.91
Granted	935,825			623,882			12.66
Forfeited	(325,568	)		(45,617	)		12.57
Vested	(136,618	)		(136,618	)		14.60
Change in estimated restricted shares considered probable of vesting	n/a			(131,930	)		12.17
Balance as of January 1, 2018	1,855,379			887,203			12.60
Granted	556,403			370,931			14.01
Forfeited	(294,977	)		(4,102	)		13.98
Vested	(115,757	)		(115,757	)		14.00
Change in estimated restricted shares considered probable of vesting	n/a			46,945			13.35
Balance as of January 1, 2019	2,001,048			1,185,220			12.80
Granted	862,176			574,784			10.95
Forfeited	(823,977	)		(290,552	)		11.70
Vested	(148,718	)		(148,718	)		11.40
Change in estimated restricted shares considered probable of vesting	n/a			(6,698	)		12.92
Balance as of December 31, 2019	1,890,529			1,314,036			$	12.43

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