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SHARE-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION The following table presents share-based compensation expense recognized by the Company and unrecognized compensation cost:
| Share-Based Compensation |  | Unrecognized Compensation Cost As of March 31, 2022
| Three Months Ended March 31, |
| 2022 |  | 2021 |
Awards issued pursuant to LTIP: |  |  |  |  |
Stock Option Awards | $ | 22,497 |  |  | $ | 24,223 |  |  | $ | 130,916 |
Performance Stock Units | 2,026 |  |  | 2,982 |  |  | 40,931 |
Restricted Share Units | 16,009 |  |  | 317 |  |  | 93,723 |
Other awards | — |  |  | 759 |  |  | — |
| $ | 40,532 |  |  | $ | 28,281 |  |  | $ | 265,570 |
Stock Option Awards The following table summarizes activity related to stock options granted to Company employees:
| Shares Under Option |  |  |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (a)
Balance at December 31, 2021 | 50,998,816 |  |  |  |  | $ | 22.51 |  |  | 8.29 |  | $ | 6,801 |
Granted | 1,284,633 |  |  |  |  | 14.01 |  |  |  |  |
Forfeited | (927,472) |  |  |  |  | 22.63 |  |  |  |  |
Balance at March 31, 2022 (b) | 51,355,977 |  |  |  |  | $ | 22.30 |  |  | 7.96 |  | 276 |
Options exercisable at March 31, 2022 | 19,713,832 |  |  |  |  | $ | 24.23 |  |  | 6.36 |  | $ | — |
(a)The aggregate intrinsic value is calculated as the difference between the exercise price and the closing price of Altice USA's Class A common stock at the respective date. (b)Options to purchase 13,147,405 shares are subject to shareholder approval of an increase of shares authorized to be issued pursuant to the Company's 2017 Long Term Incentive Plan ("LTIP"). The total unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of approximately 2.52 years. The weighted-average fair value of stock option awards granted during the three months ended March 31, 2022 was $4.50. The following weighted-average assumptions were used to calculate the fair values of stock option awards granted during the three months ended March 31, 2022:
Risk-free interest rate | 1.93%
Expected life (in years) | 6.16
Dividend yield | —%
Volatility | 37.09%
Performance Stock Unit Awards The following table summarizes activity related to performance stock units ("PSUs") granted to Company employees:
| Number of PSUs |  |
Balance at December 31, 2021 | 6,361,894 |  |  |
Forfeited | (163,621) |  |  |
Balance at March 31, 2022 | 6,198,273 |  |  |
The PSUs have a weighted average grant date fair value of $10.65 per unit. The total unrecognized compensation cost related to the outstanding PSUs is expected to be recognized over a weighted-average period of approximatel y 3.83 years. Restricted Share Units The following table summarizes activity related to restricted share units granted to Company employees:
| Number of Units |  |
Balance at December 31, 2021 | 6,617,837 |  |  |
Granted | 416,484 |  |  |
Forfeited | (158,111) |  |  |
Balance at March 31, 2022 (a) | 6,876,210 |  |  |
(a)5,023,530 Restricted stock units are subject to shareholder approval of an increase of shares authorized to be issued pursuant to the 2017 LTIP. Lightpath Plan Awards As of March 31, 2022, 433,225 Class A-1 management incentive units and 231,928 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Lightpath Holdings LLC agreement. The grant date fair value of the Award Units granted and outstanding aggregated $29,000 and will be expensed in the period in which a partial exit or a liquidity event is consummated.

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- Definition The entire disclosure for share-based payment arrangement. + 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 + Details
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