Stock-Based Incentive Compensation Plans |
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Mar. 31, 2018 | |||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||
| Stock-Based Incentive Compensation Plans |
Stock-Based Incentive Compensation Plans
Stock Options
The weighted average assumptions applied in the lattice-binomial model that the Company uses to estimate the fair value of employee stock options are as follows:
During the quarter ended March 31, 2018, the Company granted 0.2 million shares of employee stock options with grant date fair value per share of $4.82 and $5.09, respectively.
Restricted Stock Units
During the first quarter of 2018, the Company granted 2.2 million shares of restricted stock units, including 0.2 million performance-based restricted stock units with market conditions discussed below, with weighted average grant date fair value per share of $12.17. In the first quarter of 2017, the Company granted 0.6 million shares of restricted stock units with weighted average grant date fair value per share of $12.46.
Performance-based Restricted Stock Units with Market Conditions
During the first quarter of 2018, the Company granted restricted stock units with both a market condition and a service condition (market-based restricted stock units) to the Company’s senior executives. The Company estimated the fair value of the market-based restricted stock units using a Monte Carlo simulation model on the date of grant. As of March 31, 2018, there were 0.2 million market-based restricted stock units with potential payout level at 100% with a grant date fair value per share of $12.88 and $13.48.
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