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Employee Termination Benefits | 3 Months Ended
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Mar. 31, 2018
Postemployment Benefits [Abstract] |
Employee Termination Benefits | Employee Termination Benefits The following table presents a summary of employee termination benefits for the three-month period ended March 31, 2018 (in thousands):
|  | Cash |  | Share-Based Compensation (3) |  | Number of Shares |  | Total Employee Termination Benefits
Executive Employee Termination Benefits (1) |  | $ | 11,945 |  |  | $ | 9,114 |  |  | 554 |  |  | $ | 21,059 |
Other Employee Termination Benefits (2) |  | 6,692 |  |  | 3,836 |  |  | 209 |  |  | 10,528 |
|  | $ | 18,637 |  |  | $ | 12,950 |  |  | 763 |  |  | $ | 31,587 |
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(1) | On February 8, 2018, the Company’s then current CEO, James Bennett, separated employment from the Company, and on February 22, 2018, the Company’s then current CFO, Julian Bott, also separated employment from the Company. In accordance with the terms of their respective employment agreements, the Company incurred cash severance costs and share-based compensation costs associated with the accelerated vesting of awards during the first quarter of 2018.
(2) | As a result of a reduction in workforce in the first quarter of 2018, certain employees received termination benefits including cash severance and accelerated share-based and incentive compensation vesting upon separation of service from the Company.
(3) | Share-based compensation recognized in connection with the accelerated vesting of restricted stock awards and performance share units upon the departure of certain executives and the reduction in workforce in the first quarter of 2018 reflects the remaining unrecognized compensation expense associated with these awards at the date of termination. The unrecognized compensation expense was calculated using the grant date fair value for restricted stock awards and performance share units. One share of the Company’s common stock was issued per performance share unit.
Employee termination benefits including $9.9 million in cash severance are included in accounts payable and accrued expenses on the condensed consolidated balance sheets at March 31, 2018, and are expected to be paid out in the second quarter of 2018. See Note 14 for additional discussion of the Company’s share-based compensation awards.

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- Definition The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 + Details
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