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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation awards granted by our Board of Directors for the three and nine months ended September 30, 2021 and 2020 were as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30, |  |
| 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Award type: |  |  |  |  |  |  |  |  |  |  |
Stock options | — |  |  | 4,000 |  |  | 479,500 |  |  | 304,000 |  |  |  |  |
Deferred share units | 15,621 |  |  | 20,027 |  |  | 41,293 |  |  | 44,670 |  |  |  |  |
Restricted stock units | — |  |  | 16,729 |  |  | 515,960 |  |  | 328,720 |  |  |  |  |
In the three months ended September 30, 2021 and 2020, we recognized $0.3 million and $0.8 million, respectively, in stock-based compensation expense. A majority of the expense, $0.2 million and $0.7 million, respectively, was recorded as selling and administrative expense in the Consolidated Statement of Operations, with the remaining expenses incurred as cost of sales. In the nine months ended September 30, 2021 and 2020, we recognized $16.3 million and $1.9 million, respectively, in stock - based compensation expense. A majority of expense, $14.3 million and $1.6 million, respectively, was recorded as selling and administrative expense in the Consolidated Statement of Operations, with the remaining expenses incurred as cost of sales. In the nine months ended September 30, 2021 the expense includes $14.7 million due to the "Change in Control" accelerated vesting provisions of certain of our awards. For the purpose of these grants, a “Change in Control” occurred when Brookfield and any affiliates thereof ceased to own stock of the Company that constitutes at least thirty percent (30%) or thirty-five percent (35%), as applicable, of the total fair market value or total voting power of the stock of the Company. Out of the $14.7 million recorded with the Change in Control, $0.9 million accelerated at the 35% ownership level and the remaining $13.8 million accelerated at the 30% ownership level. As of September 30, 2021, unrecognized compensation cost related to stock options, deferred share units and restricted stock units was $0.7 million, which will be recognized over the remaining weighted average life of 1.7 years. Stock option, deferred share unit and restricted stock unit award activity under the Company's Omnibus Equity Incentive Plan for the nine months ended September 30, 2021 was as follows: Stock Options
| Number of Shares |  | Weighted- Average Exercise Price
Outstanding unvested as of December 31, 2020 | 906,361 |  |  | $ | 13.01 |
Granted | 479,500 |  |  | 11.49 |
Vested | (1,227,592) |  |  | 12.05 |
Forfeited | (42,349) |  |  | 13.36 |
Outstanding unvested as of September 30, 2021 | 115,920 |  |  | $ | 16.85 |
Deferred Share Unit and Restricted Stock Unit awards
| Number of Shares |  | Weighted- Average Grant Date Fair Value
Outstanding unvested as of December 31, 2020 | 524,488 |  |  | $ | 10.41 |
Granted | 557,253 |  |  | 11.48 |
Vested | (1,062,252) |  |  | 10.95 |
Cancelled | (16,793) |  |  | 10.78 |
Outstanding unvested as of September 30, 2021 | 2,696 |  |  | $ | 13.96 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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