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Share-Based Compensation | 6 Months Ended
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Jun. 30, 2018
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Share-Based Compensation | NOTE 23 - SHARE-BASED COMPENSATION Description of the plans Performance-Based Restricted Stock Units (equity-settled) In May 2018, the Company granted Restricted Stock Units (RSUs) and Performance Share Units (PSUs) to selected employees. These units will vest after three years from the grant date if the following conditions are met:
| • |  | A vesting condition under which the beneficiaries must be continuously employed by the Company through the end of the vesting period (3 years), and
| • |  | In respect of the PSUs, a performance condition, depending on the Total Stockholder Return (TSR) performance of Constellium share over the vesting period compared to the TSR of specified indices. Performance Shares Units will ultimately vest based on vesting multiplier in a range from 0 to 2.
The following table lists the inputs to the model used for the PSUs granted in May 2018:
Fair value at grant date (in Euros) |  |  | 15.31 |
Share price at grant date (in Euros) |  |  | 10.27 |
Dividend yield |  |  | — |
Expected volatility |  |  | 75 | %
Risk-free interest rate (U.S. government bond yield) |  |  | 2.60 | %
Model used |  |  | Monte Carlo |
The fair value of the RSUs awarded is the quoted market price of Constellium shares at grant date. Expense recognized during the year In accordance with IFRS 2, share-based compensation is recognized as an expense over the vesting period. The estimate of this expense is based upon the fair value of a Class A potential ordinary share at the grant date. The total expense related to the potential ordinary shares for the six months ended June 30, 2018 and 2017 amounted to €6 million and €3 million respectively. Movement of potential shares The following table illustrates the number and movements in shares during the period:
|  | Performance- Based RSU |  |  | Restricted Stock Units |  |  | Equity Award Plans |  |  | Total |
|  | Potential Shares |  |  | Potential Shares |  |  | Potential Shares |  |  | Potential Shares |
At January 1, 2018 |  |  | 3,257,840 |  |  |  | 944,500 |  |  |  | 95,340 |  |  |  | 4,297,680 |
Granted(A) |  |  | 701,109 |  |  |  | 587,786 |  |  |  | 30,709 |  |  |  | 1,319,604 |
Over-performance(B) |  |  | 295,517 |  |  |  | — |  |  |  | — |  |  |  | 295,517 |
Vested |  |  | (34,580 | ) |  |  | (80,000 | ) |  |  | (68,136 | ) |  |  | (182,716 | )
Forfeited(C) |  |  | (134,163 | ) |  |  | (27,059 | ) |  |  | — |  |  |  | (161,222 | )
At June 30, 2018 |  |  | 4,085,723 |  |  |  | 1,425,227 |  |  |  | 57,913 |  |  |  | 5,568,863 |
(A) | For PSUs, the number of potential shares granted is presented using a vesting multiplier of 1.
(B) | When the achievement of TSR performance exceeds the vesting multiplier of 1, the additional potential shares are presented as over-performance shares.
(C) | For potential shares related to PSUs, 106,163 were forfeited following the departure of certain beneficiaries and 28,000 were forfeited in relation to the non-fulfilment of performance conditions.

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- Definition The entire disclosure for share-based payment arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2017-01-01 -Paragraph 44 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2017-03-01&anchor=para_44&doctype=Standard -URIDate 2017-03-09 + Details
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