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Stock-Based Awards (Tables)
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period
A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:
 
 
 
March 31, 2019
 
 
 
Unrecognized Stock-
Based
Compensation
 
 
Average
Remaining
Vesting Period
 
Employees and directors restricted stock awards
 
$
24,012
 
 
 
2.48
 
Summary of Stock Options, Restricted Stock, Restricted Stock Unit and Performance Stock Unit Activity A summary of stock options, restricted stock and restricted stock unit activity for the three months ended March 31, 2019 is as follows:
 
 
Stock
Options
 
 
RSAs
 
 
RSUs
 
 
PRSUs
 
Balance at January 1, 2019
 
 
570,537
 
 
 
1,957,102
 
 
 
9,494
 
 
 
—
 
Granted
 
 
—
 
 
 
2,233,878
 
 
 
35,283
 
 
 
270,872
(1)
Exercised/vested
 
 
(20,000
)
 
 
(827,721
)
 
 
(4,341
)
 
 
—
 
Forfeitures
 
 
—
 
 
 
(93,194
)
 
 
—
 
 
 
—
 
Balance at March 31, 2019
 
 
550,537
 
 
 
3,270,065
 
 
 
40,436
 
 
 
270,872
(1)
 
   
(1)
Represents the target number of
PRSUs 
granted and outstanding. The number of
PRSUs
that ultimately vest ranges from 0% to 200% of this amount. A Monte Carlo simulation was used to value these awards using the following assumptions for the Company and the peer group: (i) beginning 90-day average stock prices; (ii) valuation date stock prices; (iii) historical stock price volatilities ranging from 22% to 42% (average 28%); (iv) correlation coefficients based upon the price data used to calculate the historical volatilities; (v) a risk free interest rate of 2.56%; and (vi) an expected dividend yield of 0%.