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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2018
STOCKHOLDERS' EQUITY |
Schedule of the stock option transactions |
|  |  |  | Weighted |  | Aggregate |  | Weidhted Average
|  |  |  | Average |  | Intrinsic |  | Remaining
|  |  |  | Exercise Price |  | Value (1) |  | Contractual Life
|  | Number |  | Per Share |  | (In thousands) |  | (Years)
Outstanding at December 31, 2015 (Predecessor) |  | 4,860,133 |  | $ | 17.80 |  | $ | — |  |  | 8.4
Granted |  | — |  |  | — |  |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |  |
Forfeited |  | (695,302) |  |  | 21.17 |  |  |  |  |  |
Cancelled (2) |  | (4,164,831) |  |  | 17.23 |  |  |  |  |  |
Outstanding at September 9, 2016 (Predecessor) |  | — |  | $ | — |  | $ | — |  |  | —
Outstanding at September 9, 2016 (Successor) |  | — |  | $ | — |  | $ | — |  |  | —
Granted |  | 5,319,400 |  |  | 9.22 |  |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |  |
Forfeited |  | — |  |  | — |  |  |  |  |  |
Outstanding at December 31, 2016 (Successor) |  | 5,319,400 |  | $ | 9.22 |  | $ | 631 |  |  | 9.7
Granted |  | 1,790,605 |  |  | 7.72 |  |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |  |
Forfeited |  | (374,102) |  |  | 8.82 |  |  |  |  |  |
Outstanding at December 31, 2017 (Successor) |  | 6,735,903 |  | $ | 8.84 |  | $ | 29 |  |  | 8.9
Granted |  | 1,206,800 |  |  | 5.65 |  |  |  |  |  |
Exercised |  | (41,667) |  |  | 7.75 |  |  | 29 |  |  |
Forfeited |  | (432,110) |  |  | 8.68 |  |  |  |  |  |
Outstanding at December 31, 2018 (Successor) |  | 7,468,926 |  | $ | 8.34 |  | $ | — |  |  | 8.1
(1) The period end intrinsic value of stock options was calculated as the amount by which the closing market price on December 31, 2018, 2017 and 2016 of the underlying stock exceeded the exercise price of the option. The intrinsic value of stock options exercised during the year ended December 31, 2018 was calculated as the amount by which the market price at the time of exercise of the underlying stock exceeded the exercise price of the option. No stock options were exercised during the year ended December 31, 2017 or 2016. (2) Immediately prior to emergence from chapter 11 bankruptcy, all outstanding options under the Predecessor incentive plan were cancelled.
Schedule of outstanding options by exercise price range | Options outstanding at December 31, 2018 consisted of the following:
Outstanding |  | Exercisable(1)
|  |  |  |  |  |  | Weighted Average |  |  |  |  |  |  |  |  |  | Weighted Average
|  |  |  | Weighted Average |  | Remaining |  |  |  | Weighted Average |  | Aggregate |  | Remaining
Range of Grant |  |  |  | Exercise Price |  | Contractual Life |  |  |  | Exercise Price |  | Intrinsic |  | Contractual Life
Prices Per Share |  | Number |  | per Share |  | (Years ) |  | Number |  | per Share |  | Value |  | (Years )
$5.65 - $7.75 |  | 2,783,493 |  | $ | 6.85 |  | 8.7 |  | — |  | $ | — |  | $ | — |  | —
$8.93 - $9.24 |  | 4,685,433 |  |  | 9.23 |  | 7.7 |  | — |  |  | — |  |  | — |  | —
| (1) |  | At December 31, 2018, none of the Company’s options were exercisable due to service performance conditions or option exercise prices above the current market value of the underlying stock.
Schedule of assumptions used in calculating fair value of the Company's stock-based compensation |
|  | Successor |
|  |  |  |  |  |  |  | Period from |
|  |  |  |  |  |  |  | September 10, 2016 |
|  | Years Ended December 31, |  | through |
|  | 2018 |  | 2017 |  | December 31, 2016 |
Weighted average value per option granted during the period |  | $ | 2.92 |  | $ | 4.36 |  | $ | 6.07 |
Assumptions: |  |  |  |  |  |  |  |  |  |
Stock price volatility(1) |  |  | 52.08 | % |  | 60.18 | % |  | 56.29 | %
Risk free rate of return |  |  | 2.63 | % |  | 1.94 | % |  | 1.34 | %
Expected term |  |  | 6 | years |  | 6 | years |  | 6 | years
| (1) |  | Due to the Company’s limited historical data, expected volatility was estimated using volatilities of similar entities whose share or option prices and assumptions were publicly available.
Schedule of the restricted stock transactions | The following table sets forth the restricted stock transactions for the periods indicated:
|  |  |  | Weighted |  | Aggregate
|  |  |  | Average Grant |  | Intrinsic
|  | Number of |  | Date Fair Value |  | Value (1)
|  | Shares |  | Per Share |  | (In thousands)
Unvested outstanding shares at December 31, 2015 (Predecessor) |  | 2,870,405 |  | $ | 7.55 |  | $ | 3,617
Granted |  | — |  |  | — |  |  |
Vested |  | (436,256) |  |  | 18.50 |  |  |
Accelerated vesting (2) |  | (1,917,072) |  |  | 5.39 |  |  |
Forfeited |  | (517,077) |  |  | 6.31 |  |  |
Unvested outstanding shares at September 9, 2016 (Predecessor) |  | — |  | $ | — |  | $ | —
Unvested shares outstanding at September 9, 2016 (Successor) |  | — |  | $ | — |  | $ | —
Granted |  | 2,991,202 |  |  | 9.14 |  |  |
Vested |  | (1,253,125) |  |  | 9.24 |  |  |
Forfeited |  | — |  |  | — |  |  |
Unvested outstanding shares at December 31, 2016 (Successor) |  | 1,738,077 |  | $ | 9.06 |  | $ | 16,234
Granted |  | 2,022,432 |  |  | 7.07 |  |  |
Vested |  | (2,516,647) |  |  | 8.39 |  |  |
Forfeited |  | (498,355) |  |  | 7.41 |  |  |
Unvested outstanding shares at December 31, 2017 (Successor) |  | 745,507 |  | $ | 7.05 |  | $ | 5,643
Granted |  | 2,326,961 |  |  | 5.47 |  |  |
Vested |  | (537,411) |  |  | 5.89 |  |  |
Forfeited |  | (262,164) |  |  | 6.29 |  |  |
Unvested shares outstanding at December 31, 2018 (Successor) |  | 2,272,893 |  | $ | 5.80 |  | $ | 3,864
(1) The intrinsic value of restricted stock was calculated as the closing market price on December 31, 2018, 2017 and 2016 of the underlying stock multiplied by the number of restricted shares. The total fair value of shares vested was $2.0 million, $16.1 million, $11.6 million and $0.9 million for the years ended December 31, 2018 and 2017, the period from September 10, 2016 through December 31, 2016, and the period from January 1, 2016 through September 9, 2016, respectively. (2) Immediately prior to emergence from chapter 11 bankruptcy, all outstanding unvested restricted stock under the Predecessor incentive plan were vested.

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