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Employee Termination Benefits

9 Months Ended

Sep. 30, 2018

Postemployment Benefits [Abstract]

Employee Termination Benefits

Employee Termination Benefits

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

						Cash						Share-Based Compensation (4)						Number of Shares						Total Employee Termination Benefits
Three Months Ended September 30, 2018
Executive Employee Termination Benefits						$	—					$	—					—						$	—
Other Employee Termination Benefits						23						—						—						23
						$	23					$	—					—						$	23
Three Months Ended September 30, 2017
Executive Employee Termination Benefits						$	—					$	—					—						$	—
Other Employee Termination Benefits						—						—						—						—
						$	—					$	—					—						$	—
Nine Months Ended September 30, 2018
Executive Employee Termination Benefits (1)						$	11,945					$	9,196					554						$	21,141
Other Employee Termination Benefits (2)						7,577						3,935						209						11,512
						$	19,522					$	13,131					763						$	32,653
Nine Months Ended September 30, 2017
Executive Employee Termination Benefits (3)						$	2,500					$	1,825					96						$	4,325
Other Employee Termination Benefits						490						—						—						490
						$	2,990					$	1,825					96						$	4,815

____________________

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. 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.

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.

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

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- References

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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

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