v3.22.0.1
STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
Schedule of the Dividends and Dividend Equivalents Paid

Amount per

Total Amount

    

    

    

Share of

    

Declared

Declaration Date

Record Date

Date Paid

Common Stock

(In millions)

February 26, 2020

March 9, 2020

March 23, 2020

$

0.03

$

3.2

Amount per

Total Amount

    

    

    

Share of

    

Declared

Declaration Date

Record Date

Date Paid

Common Stock

(In millions)

February 15, 2019

March 11, 2019

March 25, 2019

$

0.20

$

21.3

May 3, 2019

June 10, 2019

June 24, 2019

0.20

21.3

August 2, 2019

September 9, 2019

September 23, 2019

0.20

21.3

October 24, 2019

December 2, 2019

December 16, 2019

0.20

21.0

Summary of stock based compensation

Year Ended

December 31,

December 31,

December 31,

(In millions)

2021

2020

2019

Board of director stock award expense

$

0.9

$

0.5

$

0.5

Restricted stock unit expense

12.6

9.7

9.7

Performance stock unit expense

24.5

1.2

(5.8)

Special performance stock unit expense

5.1

14.0

Total stock-based compensation expense

$

43.1

$

25.4

$

4.4

Schedule of Nonvested RSU, PSU and SPSU Activity

    

    

Weighted

Average

Shares of RSU

Grant Date

PSU and SPSU

Fair Value

Beginning balance at January 1, 2019

1,934,447

$

21.50

Granted

1,960,334

12.89

Vested

(303,201)

21.76

Forfeited

(220,632)

17.17

Cancelled (1)

(100,855)

21.46

Beginning balance at January 1, 2020

3,270,093

$

15.88

Granted

6,517,594

4.66

Vested

(2,472,375)

8.61

Forfeited

(1,020,122)

16.97

Cancelled (1)

(2,135,929)

7.22

Beginning balance at January 1, 2021 (2)

4,159,261

$

5.51

Granted

5,089,234

7.70

Vested

(648,860)

2.82

Forfeited

(216,773)

10.74

Cancelled (1)

(541,129)

2.81

Nonvested at December 31, 2021 (3)

7,841,733

$

7.19

Tranche Years 2022 and 2023 awarded under the 2021 PSU award with grant date fair values to be determined in years 2022 and 2023, respectively

1,778,471

Total Nonvested at December 31, 2021

9,620,204

(1)Represents vested RSUs, PSUs, and SPSUs surrendered in lieu of taxes and cancelled awards returned to the 2013 Equity Incentive Plan.
(2)Includes awards modified during 2020 where grant date fair value was not determined until 2021.
(3)During January and February of 2022, participants vested in RSUs and PSUs, net of units surrendered in lieu of taxes, of 2,799,845 units. As a result, the Company paid taxes for restricted unit withholdings of approximately $52.2 million during the three months ended March 31, 2022.
Special Performance Stock Unit  
Schedule of target prices and vesting tranches

Tranche

Target Stock Price

SPSUs Vesting

1

$12.00

595,003

2

$16.00

595,003

3

$20.00

595,003

4

$24.00

595,003

5

$28.00

594,994

6

$32.00

594,994

Schedule of assumptions in determining the fair value of the SPSUs

Assumptions

Expected stock price volatility

45.0%

Expected dividend yield

2.02% and 2.44%

Risk-free interest rate

1.33% and 0.92%

Grant-date stock price

$5.93 and $4.92