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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Unvested Restricted Stock Awards
The following table presents a summary of the Company’s unvested restricted stock awards.
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair Value
 
(In thousands)
 
 
Unvested restricted shares outstanding at December 31, 2014
8,556

 
$
6.39

Granted
87

 
$
1.78

Vested
(1,948
)
 
$
6.92

Forfeited / Canceled
(205
)
 
$
6.14

Unvested restricted shares outstanding at March 31, 2015
6,490

 
$
6.18
Summary of Unvested Restricted Stock Units
The following table presents a summary of the Company’s unvested restricted stock units which vest over a two-year period (40% at the end of the first year and 60% at the end of the second year). These restricted stock units will be settled in cash at the end of each vesting period for an amount based on the Company’s common stock price as of the vesting date.
 
Number of Units
 
 Fair Value per Unit at March 31, 2015
 
(In thousands)
 
 
 
 
Unvested units outstanding at December 31, 2014
—

 
 
 
 
Granted
2,398

 
 
 
 
Vested
—

 
 
 
 
Forfeited / Canceled
—

 
 
 
 
Unvested units outstanding at March 31, 2015
2,398

 
$
1.13

–
$
1.47

The following table presents a summary of the Company’s unvested restricted stock units which vest ratably over a four-year period from the date of grant. These restricted stock units may be settled in shares of the Company’s common stock, cash or some combination of common stock and cash at the Company’s election.
 
Number of
Units
 
 Fair Value per Unit at March 31, 2015
 
(In thousands)
 
 
 
 
Unvested units outstanding at December 31, 2014
—

 
 
 
 
Granted
8,945

 
 
 
 
Vested
—

 
 
 
 
Forfeited / Canceled
(263
)
 
 
 
 
Unvested units outstanding at March 31, 2015
8,682

 
$
0.65

–
$
1.42
Performance Units/Performance Share Units Fair Value Assumptions
The following table presents a summary of the fair values of the performance share units granted during the three-month period ended March 31, 2015 and the related assumptions for all outstanding performance share units at March 31, 2015.
 
March 31, 2015
Expected price volatility range
29.0
%
-
74.0
%
Weighted-average risk-free interest rate
 
 
0.8
%
Weighted-average fair value per unit
 
 
$
1.65

The following table presents a summary of the fair values of the performance units granted during the years ended December 31, 2014 and 2013 and the related assumptions for all outstanding performance units at March 31, 2015 and December 31, 2014.
 
March 31, 2015
 
December 31, 2014
Expected price volatility range
29.4
%
-
112.1
%
 
26.6
%
-
86.6
%
Weighted-average risk-free interest rate
 
 
0.4
%
 
 
 
0.5
%
Weighted-average fair value per unit
 
 
$
15.13

 
 
 
$
13.85
Performance Units/Performance Share Units Outstanding Activity
Performance unit activity for the three-month period ended March 31, 2015 was as follows:
 
Number of Performance Units
 
(In thousands)
Outstanding at January 1, 2015
66

Granted
—

Forfeited /canceled
—

Outstanding at March 31, 2015
66

 
 
Performance period ending December 31, 2015
 
Vested
21

Unvested
7

Performance period ending December 31, 2016
 
Vested
13

Unvested
25

The following table presents a summary of the Company’s performance share units.
 
Number of Performance
Share Units
 
(In thousands)
Outstanding at January 1, 2015
—

Granted
2,044

Forfeited /canceled
(59
)
Outstanding at March 31, 2015
1,985

 
 
Performance period ending December 31, 2017
 
Vested
—

Unvested
1,985