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Accounting for stock-based compensation
3 Months Ended
Mar. 31, 2015
Accounting for stock-based compensation

10. Accounting for stock-based compensation

Total stock-based compensation expense recognized in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014 was $2.0 million and $5.2 million, respectively. The Company issued stock awards to employees during the three months ended March 31, 2015 with a four-year vesting schedule. The grant date fair value of the 36,300 restricted stock units and 73,600 stock options issued was $262,086 and $382,720, respectively, with a grant date fair value per share of $7.22 and $5.20, respectively.

As of March 31, 2015, there was $9.0 million and $10.0 million of unrecognized compensation cost related to options and restricted stock units, respectively, which are expected to be recognized over the remaining weighted average vesting period of 2.6 years. The Company evaluates stock awards with performance conditions as to the probability that the performance conditions will be met and estimates the date at which the performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period. As of March 31, 2015, there were no unrecognized expenses related to performance options and restricted stock units, for milestones not considered probable of achievement.