Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.6.0.2
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Share-Based Compensation Expense
 
Successor
 
 
Predecessor
 
Period From
 
 
Period From
 
 
 
 
 
September 13, 2016 Through
 
 
January 1, 2016 Through
 
Year Ended December 31,
 
December 31, 2016
 
 
September 12, 2016
 
2015
 
2014
Equity-classified awards
$
81

 
 
$
1,511

 
$
4,540

 
$
3,627

Liability-classified awards

 
 
(19
)
 
(711
)
 
4,520

 
$
81

 
 
$
1,492

 
$
3,829

 
$
8,147

Fair Value of Each Option Award Estimated on Date of Grant Using Black-Scholes-Merton Option-Pricing Formula
The fair value of each option award was estimated on the date of grant using the Black-Scholes-Merton option-pricing formula. Expected volatilities were based on historical changes in the market value of our stock. Separate groups of employees that had similar historical exercise behavior were considered separately to estimate expected lives. Options granted had a maximum term of ten years. We based the risk-free interest rate on the U.S. Treasury rate for the week of the grant having a term equal to the expected life of the option. 
The ranges for the assumptions used in the Black-Scholes-Merton pricing formula for the Predecessor stock options granted in the periods presented were as follows:
 
Predecessor
 
Year Ended December 31,
 
2015
 
2014
Expected volatility
64.6% to 69.4%
 
56.2% to 63.7%
Dividend yield
0.00% to 0.00%
 
0.00% to 0.00%
Expected life
3.5 to 4.6 years
 
3.5 to 4.6 years
Risk-free interest rate
0.87% to 1.54%
 
0.82% to 1.63%
Activity of Awarded Options
The following table summarizes activity for our most recent fiscal year with respect to stock options: 
 
Shares Under
Options
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic Value
Balance as of January 1, 2016 (Predecessor)
3,083,821

 
$
16.05

 
 

 
 

Granted

 

 
 

 
 

Exercised

 

 
 

 
 

Forfeited or expired

 

 
 

 
 

Canceled
(3,083,821
)
 
$
16.05

 
 
 
 
Balance as of December 31, 2016 (Successor)

 
$

 

 
$

Exercisable as of end of year (Successor)

 
$

 

 
$

Activity of Awarded Deferred Common Stock Units
The following table summarizes activity for our most recent fiscal year with respect to awarded deferred common stock units: 
 
Deferred
Common Stock
Units
 
Weighted-Average
Grant Date
Fair Value
Balance as of January 1, 2016 (Predecessor)
447,498

 
$
7.75

Granted

 

Converted

 

Canceled
(447,498
)
 
$
7.75

Balance as of December 31, 2016 (Successor)

 
$

Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Activity of Awarded Restricted Stock Units
The following table summarizes activity for our most recent fiscal year with respect to awarded restricted stock units:
 
Restricted Stock
Units
 
Weighted-Average
Grant Date
Fair Value
Balance as of January 1, 2016 (Predecessor)
468,986

 
$
6.97

Granted
107,563

 
23.15

Vested

 

Forfeited

 

Canceled
(468,986
)
 
$
6.97

Balance as of December 31, 2016 (Successor)
107,563

 
$
23.15

Performance Based Restricted Stock Units (PBRSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Equity Instruments Other than Options, Valuation Assumptions
The ranges for the assumptions used in the Monte Carlo model for the Predecessor PBRSUs granted in the periods presented were as follows:
 
Predecessor
 
Year Ended December 31,
 
2015
 
2014
Expected volatility
66.5% to 97.7%
 
52.6% to 72.3%
Dividend yield
0.0% to 0.0%
 
0.0% to 0.0%
Risk-free interest rate
0.01% to 1.31%
 
0.02% to 1.07%
Activity of Awarded Performance-based RSUs
The following table summarizes activity for our most recent fiscal year with respect to PBRSUs:
 
Performance-Based Restricted Stock
Units
 
Weighted-Average
Fair Value
Balance as of January 1, 2016 (Predecessor)
941,097

 
$
9.19

Granted

 

Forfeited

 

Canceled
(941,097
)
 
$
9.19

Balance as of December 31, 2016 (Successor)

 
$