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Share-Based Payments | 9 Months Ended
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Sep. 30, 2017
Share-Based Payments | Note 15 — Share-Based Payments The Company’s 2002 Stock Award and Incentive Plan (the “Plan”), as amended, provides for the awarding of stock options and restricted stock to employees, officers and non-employee directors. Under the Plan, the Company grants directors, certain officers and other key employees restricted common stock, with vesting contingent upon completion of specified service periods ranging from one to five years. The Company also grants certain officers performance-based awards, with vesting contingent upon the Company’s achievement of specified financial goals. The Plan is more fully described in Notes 15 and 17 to the Consolidated Financial Statements in the Company’s 2016 Annual Report on Form 10-K. The following table summarizes the total share-based compensation expense and related tax benefits recognized for the three and nine months ended September 30, 2017 and 2016 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Restricted stock compensation expense |  | $ | 793 |  |  | $ | 170 |  |  | $ | 2,253 |  |  | $ | 1,254 |
Tax benefit related to restricted stock compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Restricted stock award activity pursuant to the Plan for the nine months ended September 30, 2017 is summarized as follows:
|  | Restricted Stock Awards |
|  | Number of Shares |  |  | Weight Average Grant Fair Value |
Outstanding, December 31, 2016 |  |  | 196,453 |  |  | $ | 7.01 |
Awarded |  |  | 981,208 |  |  |  | 5.15 |
Released |  |  | (67,544 | ) |  |  | 8.33 |
Forfeited |  |  | (7,715 | ) |  |  | 5.22 |
Outstanding, September 30, 2017 |  |  | 1,102,402 |  |  |  | 5.28 |
As of September 30, 2017, there was $3.0 million of total unrecognized compensation cost related to non-vested restricted stock awards, which is expected to be recognized over a weighted-average period of 5.4 years. The Company granted Restricted Stock Units (“RSUs”) to certain executive and non-executive personnel during the first quarter of 2017. RSUs are not treated in the same manner as Restricted Stock Awards (“RSAs”) as the Company issues the net after-tax number of shares when the units vest. Vesting of RSUs is predicated upon meeting certain criteria related to service, performance and/or market based conditions. Restricted stock unit activity pursuant to the Plan for the nine months ended September 30, 2017 is summarized as follows:
|  | Restricted Stock Units |
|  | Number of Shares |  |  | Weight Average Grant Fair Value |
Outstanding, December 31, 2016 |  |  | — |  |  | $ | — |
Awarded |  |  | 1,001,206 |  |  |  | 5.15 |
Released |  |  | — |  |  |  | — |
Forfeited |  |  | (37,864 | ) |  |  | 5.15 |
Outstanding, September 30, 2017 |  |  | 963,342 |  |  |  | 5.15 |
As of September 30, 2017, there was $3.7 million of total unrecognized compensation cost related to non-vested restricted stock units, which is expected to be recognized over a weighted-average period of 6.2 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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