Employee Termination Benefits (Tables)

3 Months Ended

Mar. 31, 2019

The following table presents a summary of employee termination benefits for the three-month period ended March 31, 2018 which occurred before the change in composition of the current Board of Directors (in thousands):


	Cash		Share-Based Compensation (3)		Number of Shares	Total Employee Termination Benefits












Three Months Ended March 31, 2018
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 chief executive officer ("CEO"), James Bennett, separated employment from the Company, and on February 22, 2018, the Company’s then current chief financial officer ("CFO"), Julian Bott, also separated employment from the Company. As a result, the Company paid cash severance costs and incurred share-based compensation costs associated with these separations 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 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.