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Equity Compensation Plans
 9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Equity Compensation Plans
Equity Compensation Plans
At September 30, 2017 and December 31, 2016, 1,469,991 and 1,787,974 shares of common stock, respectively, were available for grant under our Incentive Plan. The unamortized compensation cost of awards issued under the Incentive Plan and purchases under the Employee Stock Purchase Plan totaled $18 million at September 30, 2017, as shown in the following table.
Table 16.1 – Activities of Equity Compensation Costs by Award Type
 
 
Nine Months Ended September 30, 2017
(In Thousands)
 
Restricted Stock
 
Deferred Stock Units
 
Performance Stock Units
 
Employee Stock Purchase Plan
 
Total
Unrecognized compensation cost at beginning of period
 
$
2,091

 
$
11,506

 
$
4,549

 
$
—

 
$
18,146

Equity grants
 
2,237

 
5,747

 
—

 
129

 
8,113

Equity grant forfeitures
 
(174
)
 
(472
)
 
—

 
—

 
(646
)
Equity compensation expense
 
(934
)
 
(4,866
)
 
(1,738
)
 
(96
)
 
(7,634
)
Unrecognized Compensation Cost at End of Period
 
$
3,220

 
$
11,915

 
$
2,811

 
$
33

 
$
17,979


At September 30, 2017, the weighted average amortization period remaining for all of our equity awards was less than two years.
Restricted Stock
At September 30, 2017 and December 31, 2016, there were 265,842 and 204,515 shares, respectively, of restricted stock outstanding. Restrictions on these shares lapse through 2021. During the nine months ended September 30, 2017, there were 134,364 shares of restricted stock granted, restrictions on 61,285 shares of restricted stock lapsed and those shares were distributed, and 11,752 shares of restricted stock awards were forfeited.
Deferred Stock Units (“DSUs”)
At September 30, 2017 and December 31, 2016, there were 1,869,577 and 1,848,861 DSUs, respectively, outstanding of which 1,006,394 and 939,899, respectively, had vested. During the nine months ended September 30, 2017, there were 359,501 DSUs granted, 306,911 DSUs distributed, and 31,875 DSUs forfeited. Unvested DSUs at September 30, 2017 vest through 2021.
During the first quarter of 2016, equity compensation expense of $3 million was recognized in connection with the announced departures of two executives due to the full vesting of their DSUs in accordance with the terms of their employment agreements.
Performance Stock Units (“PSUs”)
At both September 30, 2017 and December 31, 2016, the target number of PSUs that were unvested was 642,879. Vesting for PSUs will generally occur at the end of three years from their grant date based on various total shareholder return (“TSR”) performance calculations, as discussed in our Annual Report on Form 10-K for the year ended December 31, 2016.
Employee Stock Purchase Plan ("ESPP")
The ESPP allows a maximum of 450,000 shares of common stock to be purchased in aggregate for all employees. As of September 30, 2017 and December 31, 2016, 354,801 and 337,271 shares had been purchased, respectively, and there remained a negligible amount of uninvested employee contributions in the ESPP at September 30, 2017.