v3.8.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the Activity of Unvested RSUs
The following table summarizes the activity of the Company’s unvested RSUs for the successor year ended December 31, 2017:
 
Restricted Stock
Units
 
Weighted Average
Grant Date
Fair Value
Unvested units as of December 31, 2016 (Successor)
—

 
$
—

Total Granted
1,448,736

 
15.73

Forfeited
(390,038
)
 
15.78

Vested(1)
(142,804
)
 
15.55

Unvested as of December 31, 2017 (Successor)
915,894

 
$
15.73


(1)Includes 40,223 shares withheld to satisfy $0.4 million employee tax obligations upon vesting.
Summary of the Activity of Restricted Stock Awards
The following table summarizes the activity of the Company’s restricted stock awards for the year ended December 31, 2017:


Shares of
Restricted Stock
 
Weighted Average
Grant Date Fair Value
Unvested units as of December 31, 2016 (Successor)

—

 
—

Granted

510,000

 
$
15.73

Forfeited

(435,000
)
 
15.78

Vested

—

 
—

Unvested as of December 31, 2017 (Successor)

75,000

 
$
13.43
Schedule of Assumptions
The weighted average grant date fair value was estimated using the Black-Scholes option-pricing model (level 3) with the following assumptions:
 
Year
Ended
December 31, 2017
Expected volatility (1)
0.2746%
Expected dividend yield (2)
—%
Expected option term (3)
6.24 years
Risk-free rate (4)
2.09%
(1)
The expected volatility assumption was calculated based on a peer group analysis of stock price volatility with a look back period based on the expected term and ending on the grant date.
(2)
As of December 31, 2017, the Company has not paid any dividends on our common stock. As of the stock option grant date, the Company does not anticipate paying any dividends on common stock over the term of the stock options. Option holders have no right to dividends prior to the exercise of the options.
(3)
The Company utilized the simplified method to determine the expected term of the stock options since the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
(4)
The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant which corresponds to the expected term of the stock options.
Summary of the Activity of Unvested Stock Options
The following table summarizes the activity of the Company’s unvested stock options for the year ended December 31, 2017 (Successor):


Number
of
Options
 
Weighted Average
Remaining
Contractual Life
(years)
 
Weighted
Average
Exercise Price
 
Weighted
Average Grant
Date Fair Value
Outstanding as of December 31, 2016 (Successor)
—

 
—

 
$
—

 
$
—

Granted
1,202,613

 
5.52

 
15.75

 
4.99

Exercised
—

 
—

 
—

 
—

Forfeited
(374,993
)
 
5.47

 
15.78

 
5.04

Outstanding as of December 31, 2017 (Successor)
827,620

 
5.54

 
$
15.74

 
$
4.97

Exercisable as of December 31, 2017 (Successor)
241.931

 
5.47

 
15.78

 
5.04