Employee Termination Benefits

6 Months Ended

Jun. 30, 2018

The following table presents a summary of employee termination benefits for the three and six-month periods ended June 30, 2018 and 2017 (in thousands):


	Cash		Share-Based Compensation (4)		Number of Shares	Total Employee Termination Benefits
Three Months Ended June 30, 2018
Executive Employee Termination Benefits	$	—	$	82	—	$	82
Other Employee Termination Benefits	862		99		—	961
	$	862	$	181	—	$	1,043
Three Months Ended June 30, 2017
Executive Employee Termination Benefits (1)	$	2,500	$	1,825	96	$	4,325
Other Employee Termination Benefits	90		—		—	90
	$	2,590	$	1,825	96	$	4,415
Six Months Ended June 30, 2018
Executive Employee Termination Benefits (2)	$	11,945	$	9,196	554	$	21,141
Other Employee Termination Benefits (3)	7,554		3,935		209	11,489
	$	19,499	$	13,131	763	$	32,630
Six Months Ended June 30, 2017
Executive Employee Termination Benefits (1)	$	2,500	$	1,825	96	$	4,325
Other Employee Termination Benefits	490		—		—	490
	$	2,990	$	1,825	96	$	4,815

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1. Includes cash severance costs and share-based compensation costs associated with the accelerated vesting of awards related to the departure of the Company's former Executive Vice President of Investor Relations and Strategy, Duane Grubert.

2. 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.

3. 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.

4. 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. Other employee termination benefits for the three and six-month periods ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share-based compensation to reflect actuals paid.

See Note 15 for additional discussion of the Company’s share-based compensation awards.

At the 2018 annual meeting, 83.2% of the voting shareholders voted against the Company’s prior compensation plan. The Compensation Committee of the Board is re-evaluating the compensation program of the Company.