Long-term Incentive Plan | Note 5 : Long-term Incentive Plan A. H. Belo sponsors a long-term incentive plan (the “Plan”) under which 8,000,000 shares of the Company’s Series A and Series B common stock are authorized for equity - based awards. Awards may be granted to A. H. Belo employees and outside directors in the form of non-qualified stock options, incentive stock options, restricted share awards , restricted stock units (“ RSUs ”) , performance shares, performance units or stock appreciation rights. In addition, stock options may be accompanied by full and limited stock appreciation rights. Rights and limited stock appreciation rights may also be issued without accompanying stock options. Awards under the Plan were also granted to holders of stock options issued by A. H. Belo’s former parent company in connection with the Company’s separation from its former parent in 2008. Due to the expiration of the Plan on February 8, 2018, A. H. Belo implemented, and shareholders approved, a new long-term incentive plan (the “2017 Plan”) under which 8,000,000 shares of the Company’s Series A and Series B common stock are authorized for equity-based awards. Like its predecessor plan, awards under the 2017 Plan may be granted to A. H. Belo employees and outside directors in the form of non-qualified stock options, incentive stock options, restricted share awards , RSUs, performance shares, performance units or stock appreciation rights. No grants have yet been made under the 2017 Plan. Stock Options. S tock options granted under the Plan are fully vested and exercisable. No options have been granted since 2009, and all compensation expense associated with stock options has been fully recognized as of June 30, 2017 . Number of Options Weighted Average Exercise Price Outstanding at December 31, 2016 114,979 $ 8.21 Canceled (14,635) 20.16 Outstanding at June 30, 2017 100,344 6.46 As of June 30, 2017, the aggregate intrinsic value of outstanding options was $10 and the weighted average remaining contractual life of the Company’s stock options was 1.1 years . The aggregate intrinsic valu e of options exercised in the three and six months ended June 30, 2016 , was $183 and $300 , respectively . Restricted Stock Units. T he Company’s RSUs have service and/or performance conditions and, subject to retirement eligibility, vest over a period of up to three years. Vested RSUs are redeemed 60 percent in A. H. Belo Series A common stock and 40 percent in cash over a period of up to three years. As of June 30, 2017 , the liability for the portion of the award s to be redeemed in cash was $771 . The table below sets forth a summary of RSU activity under the Plan. Total RSUs Issuance of Common Stock RSUs Redeemed in Cash Cash Payments at Closing Price of Stock Weighted Average Price on Date of Grant Non-vested at December 31, 2016 121,131 $ 5.65 Granted 284,868 6.11 Vested and outstanding (159,212) 5.71 Vested and issued (22,734) 13,634 9,100 $ 57 6.90 Non-vested at June 30, 2017 224,053 6.07 For the six months ended June 30, 2017 , the Company issued 63,272 shares of Series A common stock and 42,189 shares were redeemed in cash for RSUs that were previously vested as of December 31, 201 6 . In addition, there were 290,825 and 237,074 RSUs that were vested and outstanding as of June 30, 2017 and December 31, 201 6 , respectively. The fair value of RSU grants is determined using the closing trading price of the Company’s Series A common stock on the grant date. As of June 30, 2017 , unrecognized compensation expense related to non-vested RSUs totaled $1,018 , which is expected t o be recognized over a weighted average period of approximately 1.0 year. Compensation Expense. A. H. Belo recognizes compensation expense for awards granted under the P lan over the vesting period of the award. Compensation expense related to RSUs granted under the Plan is set forth in the table below. RSUs Redeemable in Stock RSUs Redeemable in Cash Total RSU Awards Expense Three Months Ended June 30, 2017 $ 185 $ 38 $ 223 2016 76 69 145 Six Months Ended June 30, 2017 $ 626 $ 317 $ 943 2016 448 301 749 |