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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2018
SHARE-BASED COMPENSATION |
SHARE-BASED COMPENSATION | NOTE K – SHARE‑BASED COMPENSATION Stock Awards As of December 31, 2018 and 2017, the Company had outstanding restricted stock units granted under the 2005 Ownership Incentive Plan (“the 2005 Plan”). The 2005 Plan, as amended, provides for the granting of 3.4 million shares, which may be awarded as incentive and nonqualified stock options, Stock Appreciation Rights (“SARs”), restricted stock, or restricted stock units (“RSUs”). As of December 31, 2018, the Company had not elected to treat any exercised options as employer SARs and no employee SARs had been granted. Restricted Stock Units A summary of the Company’s restricted stock unit award program is presented below:
|  |  |  | Weighted-Average |
|  |  |  | Grant Date |
|  | Units |  | Fair Value |
Outstanding – January 1, 2018 |  | 1,459,260 |  | $ | 22.98 |
Granted |  | 231,510 |  | $ | 44.50 |
Vested |  | (246,789) |  | $ | 26.60 |
Forfeited(1) |  | (6,998) |  | $ | 24.72 |
Outstanding – December 31, 2018 |  | 1,436,983 |  | $ | 25.81 |
| (1) |  | Forfeitures are recognized as they occur.
The Compensation Committee of the Company’s Board of Directors granted restricted stock units under the 2005 Plan during the years ended December 31, 2018, 2017, and 2016 as follows: k
|  |  |  | Weighted-Average |
|  |  |  | Grant Date |
|  | Units |  | Fair Value |
2018 |  | 231,510 |  | $ | 44.50 |
2017 |  | 504,550 |  | $ | 16.39 |
2016 |  | 536,440 |  | $ | 15.89 |
The fair value of restricted stock awards that vested in 2018, 2017, and 2016 was $9.6 million, $11.2 million, and $5.8 million, respectively. Unrecognized compensation cost related to restricted stock awards outstanding as of December 31, 2018 was $17.9 million, which is expected to be recognized over a weighted‑average period of approximately 2.45 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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