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Share-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Fair Value of Each Option Grant Estimated
The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year:
 
 
Nine Months Ended September 30,
 
 
2018
 
2017
Expected option life (in years)
 
0.88 - 5.84
 
0.39 - 6.10
Risk-free interest rate
 
2.24 - 2.85%
 
1.11 - 2.22%
Expected volatility
 
47.51 - 47.89%
 
47.04 - 48.29%
Dividend yield
 
—%
 
—%
Summary of Company's Restricted Stock Activity
A summary of HC2’s restricted stock activity is as follows:
 
 
Shares
 
Weighted Average Grant Date Fair Value
Unvested - December 31, 2017
 
1,588,406

 
$
5.36

Granted
 
2,073,612

 
$
6.21

Vested
 
(263,189
)
 
$
5.53

Forfeited
 
(162,660
)
 
$
5.70

Unvested - September 30, 2018
 
3,236,169

 
$
5.87
Summary of Company's Stock Option Activity
A summary of HC2’s stock option activity is as follows:
 
 
Shares
 
Weighted Average Exercise Price
Outstanding - December 31, 2017
 
6,989,856

 
$
6.57

Granted
 
662,769

 
$
5.45

Exercised
 
(274,037
)
 
$
4.37

Forfeited
 
(60,293
)
 
$
5.50

Expired
 
(157,434
)
 
$
9.00

Outstanding - September 30, 2018
 
7,160,861

 
$
6.51

 
 
 
 
 
Eligible for exercise
 
5,877,428

 
$
6.31