Quarterly report pursuant to Section 13 or 15(d)

Stock-based Expense (Tables)

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Stock-based Expense (Tables)
6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Restricted Stock Activity
During the three and six months ended June 30, 2018, the Company made the following grants of time-based restricted stock:
Three Months Ended June 30, 2018
 
Six Months Ended June 30, 2018
 
Vesting
163,766

 
978,444

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

 
3,600

 
Shares fully vested on the first day of the calendar quarter immediately following the grant date.
33,846

 
33,846

 
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, 2018, we granted 517,364 shares of restricted stock that become eligible to vest based on the achievement of certain market-based conditions, as described below:
Three Months Ended June 30, 2018
 
Six Months Ended June 30, 2018
 
Condition to Become Eligible to Vest

 
129,341

 
After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $60.89 for twenty consecutive trading days.

 
129,341

 
After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $66.98 for twenty consecutive trading days.

 
129,341

 
After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $73.07 for twenty consecutive trading days.

 
129,341

 
After the grant date and prior to July 1, 2021, the average closing price per share of our common stock equals or exceeds $85.24 for twenty consecutive trading days.