Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.4
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense Total stock-based compensation expense included in the Consolidated Statements of Operations and the related tax effects are presented in the table below:
Year Ended December 31,
2020 2019 2018
Stock-based compensation expense $ 2.7  $ 1.2  $ 4.7 
Income tax benefit   —  1.1 
Summary of Performance Share Activity Details of PSUs issued during 2019 and 2018 are as follows:
2019 2018
Issued (in thousands) 200.9 354.7
Weighted-average grant date fair value $ 13.25  $ 13.97 
Summary of Valuation Assumptions
The following table summarizes the Monte-Carlo inputs and grant-date fair value price used for PBRSU issuances.

March 24,
2020
September 11,
2019
Grant-date stock price (AFI closing stock price on date of grant) $ 2.18  $ 7.43 
Assumptions
Risk-free rate of return 0.44  % 1.59  %
Expected volatility 66.29  % 41.45  %
Expected dividend yield —  — 
Summary of Activity Related to PSAs, PSUs and PBRSUs
The table below summarizes activity related to the PSAs, PSUs and PBRSUs.
PSAs, PSUs and PBRSUs
Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value (per share)
Non-vested as of December 31, 2019 868.3  $ 10.53 
Granted 691.1  0.90 
Vested —  — 
Cancelled (211.7) 16.54 
Forfeited (90.3) 4.15 
Non-vested as of December 31, 2020 1,257.4  4.69 
Schedule of Restricted Stock Unit Award Activity The fair value of RSUs was measured using our stock price on the date of grant. Details of RSUs issued during 2020, 2019 and 2018 are as follows:
2020 2019 2018
Issued (in thousands) 165.0 622.8  308.3 
Weighted-average grant date fair value 4.36 7.39  16.12 
The table below summarizes activity related to RSUs. The non-employee director activity is not reflected in the RSU activity below:
RSUs
Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value (per share)
Non-vested as of December 31, 2019 670.8  $ 8.28 
Granted 165.0  4.36 
Vested (131.6) 11.40 
Forfeited (65.9) 6.95 
Non-vested as of December 31, 2020 638.3  6.71 
The fair value of non-employee director RSUs was measured using our stock price on the date of grant. Details of Director awarded RSUs issued during 2020, 2019 and 2018 are as follows:
2020 2019 2018
Issued (in thousands) 171.2  57.0 67.3
Weighted-average grant date fair value 3.83 $ 11.05  $ 13.30 

The following table summarizes activity related to the non-employee director RSUs.
Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value (per share)
Vested and not yet delivered as of December 31, 2019 260.3  $ 13.07 
Granted 171.2  3.83
Distributed (19.0) 11.05
Outstanding as of December 31, 2020 412.5  9.32
Summary of Information about AFI's Stock Options and Options Exercised The following table summarizes information about AFI's stock options:
Number of Shares (in thousands) Weighted-Average Exercise Price (per share) Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in millions)
Outstanding (and exercisable) as of December 31, 2019 442.1  $ 12.85  2.7 $ — 
Outstanding (and exercisable) as of December 31, 2020 442.1  12.85  1.7  
The following table presents information related to stock option exercises:
Year Ended December 31,
2020 2019
Total intrinsic value of stock options exercised $   $ — 
Cash proceeds received from stock options exercised   0.1