Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Stockholders’ Equity

Incentive Plan

The following table summarizes our compensation costs recognized in General and administrative expense (excluding depreciation) and Operating expense (excluding depreciation) under the Amended and Restated Par Pacific Holdings, Inc. 2012 Long-term Incentive Plan and Stock Purchase Plan (in thousands):



	Three Months Ended March 31,
	2018		2017
Restricted Stock Awards	$	843	$	1,703
Restricted Stock Units	150		84
Stock Option Awards	446		750

During the three months ended March 31, 2018, we granted 229 thousand shares of restricted stock and restricted stock units with a fair value of approximately $4.0 million. As of March 31, 2018, there were approximately $8.7 million of total unrecognized compensation costs related to restricted stock awards and restricted stock units, which are expected to be recognized on a straight-line basis over a weighted-average period of 3.0 years.

During the three months ended March 31, 2018, we granted 252 thousand stock option awards with a weighted-average exercise price of $17.34 per share. As of March 31, 2018, there were approximately $4.7 million of total unrecognized compensation costs related to stock option awards, which are expected to be recognized on a straight-line basis over a weighted-average period of 2.9 years.

During the three months ended March 31, 2018, we granted 49 thousand performance restricted stock units to executive officers. These performance restricted stock units had a fair value of approximately $0.8 million and are subject to certain annual performance targets as defined by our Board of Directors. As of March 31, 2018, there were approximately $1.3 million of total unrecognized compensation costs related to the performance restricted stock units, which are expected to be recognized on a straight-line basis over a weighted-average period of 2.6 years.