Quarterly report pursuant to Section 13 or 15(d)

Stock-based Expense (Tables)

v3.5.0.2
Stock-based Expense (Tables)
6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Restricted Stock Activity
During the three and six months ended June 30, 2016, the Company made the following grants of restricted stock:
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2016
 
Condition to Become Eligible to Vest
306,055

 
1,565,127

 
Shares vest ratably over a period of twelve quarters beginning on the first day of the second calendar quarter immediately following the grant date.
55,783

 
55,783

 
Shares vest ratably over a period of four quarters beginning on the first day of the calendar quarter immediately following the grant date.
During the six months ended June 30, 2016, we granted 729,300 shares of restricted stock which require the achievement of certain market-based conditions to become eligible to vest. The shares become eligible to vest based on the achievement of the following conditions:
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2016
 
Condition to Become Eligible to Vest

 
364,651

 
After the grant date and prior to July 1, 2019, the average closing price per share of the Company’s common stock equals or exceeds $27.28 for twenty consecutive trading days

 
364,649

 
After the grant date and prior to July 1, 2019, the average closing price per share of the Company’s common stock equals or exceeds $32.15 for twenty consecutive trading days