Share-based Compensation | Share-based Compensation Our share-based compensation expense is based on the share-based incentive awards held by our and our subsidiaries’ employees, including awards issued by Liberty Global . A summary of our aggregate share-based compensation expense is set forth below: Year ended December 31, 2015 2014 2013 in millions Liberty Global shares: Performance-based incentive awards (a) $ 157.1 $ 129.9 $ 58.6 Other share-based incentive awards 149.6 99.7 182.9 Total Liberty Global shares (b) (c) 306.7 229.6 241.5 Telenet share-based incentive awards (d) 9.2 14.6 56.5 Other 2.3 13.0 4.5 Total $ 318.2 $ 257.2 $ 302.5 Included in: Continuing operations: Operating expense: Liberty Global Group $ 3.1 $ 4.8 $ 10.8 LiLAC Group 0.3 2.8 1.3 Total operating expense 3.4 7.6 12.1 SG&A expense: Liberty Global Group 312.7 240.8 283.5 LiLAC Group (c) (e) 2.1 8.8 5.1 Total SG&A expense 314.8 249.6 288.6 Total — continuing operations 318.2 257.2 300.7 Discontinued operation — — 1.8 Total $ 318.2 $ 257.2 $ 302.5 _______________ (a) Includes share-based compensation expense related to (i) Liberty Global PSU s, (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards ) and (iii) for 2015 and 2014, PGUs to our Chief Executive Officer, as described below. The Challenge Performance Awards include PSAR s and PSU s. (b) In connection with the Virgin Media Acquisition , we issued Liberty Global share-based incentive awards ( Virgin Media Replacement Awards ) to employees and former directors of Virgin Media in exchange for corresponding Virgin Media awards. Virgin Media recorded share-based compensation expense of $54.1 million and $55.8 million during 2015 and 2014, respectively, including compensation expense related to the Virgin Media Replacement Awards and new awards that were granted after the Virgin Media Replacement Awards were issued. During 2013, Virgin Media recorded share-based compensation expense of $134.3 million , primarily related to the Virgin Media Replacement Awards , including $80.1 million that was charged to expense in recognition of the Virgin Media Replacement Awards that were fully vested on June 7, 2013 or for which vesting was accelerated pursuant to the terms of the Virgin Media Merger Agreement on or prior to December 31, 2013. (c) In connection with the LiLAC Transaction , the compensation committee of our board of directors approved modifications to our outstanding share-based incentive awards (the Award Modifications ) in accordance with the underlying share-based incentive plans. The objective of the compensation committee was to ensure a relatively unchanged intrinsic value of outstanding equity awards before and after the bonus issuance of the LiLAC Shares . The mechanism to modify outstanding share-based incentive awards, as approved by the compensation committee, utilized the volume-weighted average price of the respective shares for the five days prior to and the five days following the bonus issuance ( Modification VWAP s ). In order to determine if any incremental stock-based compensation expense should be recorded as a result of the Award Modifications , we are required to measure the changes in the fair values of the then outstanding share-based incentive awards using market prices immediately before and immediately after the Award Modifications . Due to declines in the share prices of our Class A and Class C Liberty Global Shares f ollowing the bonus issuance, the exercise prices of options, SAR s and PSAR s determined using the Modification VWAP s were lower than the exercise prices that would have resulted if the market prices immediately before and after the Award Modifications had been used. Accordingly, the Black-Scholes fair values of our options, SAR s and PSAR s increased as a result of the Award Modifications , resulting in incremental stock-based compensation expense of $99.3 million . This amount includes $69.3 million of expense recognized during 2015 related to awards that vested on or prior to December 31, 2015 and $30.0 million of expense that will be recognized in future periods through 2019 as the related awards vest. (d) Represents the share-based compensation expense associated with Telenet ’s share-based incentive awards, which, at December 31, 2015, included (i) warrants and employee stock options ( 1,813,815 awards outstanding at a weighted average exercise price of €42.17 ( $45.82 )), (ii) performance-based specific stock option plans for the Chief Executive Officer ( 745,000 awards outstanding at a weighted average exercise price of €40.60 ( $44.12 )), (iii) performance-based share award ( 82,747 awards outstanding) and (iv) an employee share purchase plan. During 2013, Telenet modified the terms of certain of its share-based incentive plans to provide for anti-dilution adjustments in connection with its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and continues to recognize additional share-based compensation expense as the underlying options vest. In addition, during 2013, Telenet recognized expense of $6.2 million related to the accelerated vesting of certain options. (e) The amount for 2015 includes the reversal of $1.8 million of share-based compensation expense, primarily related to forfeitures of unvested PSUs during the first quarter of 2015. The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Liberty Global ordinary shares as of December 31, 2015 : Liberty Global Shares and LiLAC Shares (a) Liberty Global performance- based awards (b) Total compensation expense not yet recognized (in millions) $ 192.0 $ 85.5 Weighted average period remaining for expense recognition (in years) 2.7 0.9 _______________ (a) Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global 2014 Incentive Plan (as amended and restated effective February 24, 2015), (ii) the Liberty Global 2014 Nonemployee Director Incentive Plan, (iii) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013 ) (the Liberty Global 2005 Incentive Plan ), (iv) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013 ) (the Liberty Global 2005 Director Incentive Plan ) and (v) certain other incentive plans of Virgin Media , including Virgin Media ’s 2010 stock incentive plan (the VM Incentive Plan ). All new awards are granted under the Liberty Global 2014 Incentive Plan or the Liberty Global 2014 Nonemployee Director Incentive Plan. The Liberty Global 2014 Incentive Plan, the Liberty Global 2014 Nonemployee Director Incentive Plan, the Liberty Global 2005 Incentive Plan , the Liberty Global 2005 Director Incentive Plan and the VM Incentive Plan are described below. (b) Amounts relate to (i) the Challenge Performance Awards , (ii) PSU s and (iii) the PGUs . The following table summarizes certain information related to the incentive awards granted and exercised with respect to Liberty Global ordinary shares: Year ended December 31, 2015 2014 2013 Assumptions used to estimate fair value of options, SARs and PSARs granted: Risk-free interest rate 0.96 - 1.89% 0.81 - 1.77% 0.36 - 1.27% Expected life (a) 3.0 - 5.5 years 3.1 - 5.1 years 3.2 - 7.1 years Expected volatility (a) 23.1 - 30.1% 25.1 - 28.7% 26.5 - 35.8% Expected dividend yield none none none Weighted average grant date fair value per share of awards granted: Options $ 14.73 $ 11.40 $ 11.09 SARs $ 10.76 $ 8.93 $ 8.36 PSARs $ — $ 8.15 $ 8.31 RSUs $ 51.85 $ 40.68 $ 35.74 PSUs $ 51.57 $ 40.42 $ 34.94 PGUs $ — $ 44.04 $ — Total intrinsic value of awards exercised (in millions): Options $ 106.8 $ 126.6 $ 175.0 SARs $ 51.7 $ 48.7 $ 73.2 PSARs $ 0.2 $ 0.4 $ — Cash received from exercise of options (in millions) $ 40.5 $ 54.8 $ 81.0 Income tax benefit related to share-based compensation (in millions) $ 67.4 $ 54.6 $ 48.0 _______________ (a) The 2013 ranges shown for these assumptions exclude the awards for certain former employees of Virgin Media who were expected to exercise their awards immediately or soon after the Virgin Media Acquisition . For these awards, the assumptions used for expected life and volatility were essentially nil. Share Incentive Plans — Liberty Global Ordinary Shares Incentive Plans As of December 31, 2015 , we are authorized to grant incentive awards under the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan. Generally, we may grant non-qualified share options, SAR s, restricted shares, RSU s, cash awards, performance awards or any combination of the foregoing under either of these incentive plans (collectively, awards). Ordinary shares issuable pursuant to awards made under these incentive plans will be made available from either authorized but unissued shares or shares that have been issued but reacquired by our company. Awards may be granted at or above fair value in any class of ordinary shares. The maximum number of Liberty Global ordinary shares with respect to which awards may be issued under the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan is 105 million (of which no more than 50.25 million shares may consist of Class B ordinary shares) and 10.5 million , respectively, in each case, subject to anti-dilution and other adjustment provisions in the respective plan. As of December 31, 2015 , the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan had 84,782,474 and 10,120,239 ordinary shares available for grant, respectively. In connection with the Virgin Media Acquisition , we assumed the VM Incentive Plan . Awards under the VM Incentive Plan issued prior to June 7, 2013 have a 10 -year term and become fully exercisable within five years of continued employment. Certain performance-based awards that were granted during the first quarter of 2013 were canceled upon completion of the Virgin Media Acquisition . These canceled awards were subsequently replaced by PSU s that were granted under the VM Incentive Plan on June 24, 2013. For the remaining performance-based awards that were outstanding prior to June 7, 2013, the performance objectives lapsed upon the completion of the Virgin Media Acquisition and such awards vest on the third anniversary of the grant date. Awards (other than performance-based awards) issued under the Liberty Global 2005 Incentive Plan and under the VM Incentive Plan after June 7, 2013 generally (i) vest 12.5% on the six month anniversary of the grant date and then vest at a rate of 6.25% each quarter thereafter and (ii) expire seven years after the grant date. Awards (other than RSU s) issued under the Liberty Global 2005 Director Incentive Plan generally vest in three equal annual installments, provided the director continues to serve as director immediately prior to the vesting date, and expire 10 years after the grant date. RSU s vest on the date of the first annual general meeting of shareholders following the grant date. No further awards will be granted under the Liberty Global 2005 Incentive Plan , the Liberty Global 2005 Director Incentive Plan or the VM Incentive Plan . Awards (other than performance-based awards) under the Liberty Global 2014 Incentive Plan generally (i) vest 12.5% on the six month anniversary of the grant date and then vest at a rate of 6.25% each quarter thereafter and (ii) expire seven years after the grant date. Awards (other than RSU s) issued under the Liberty Global 2014 Nonemployee Director Incentive Plan generally vest in three equal annual installments, provided the director continues to serve as director immediately prior to the vesting date, and expire seven years after the grant date. RSU s vest on the date of the first annual general meeting of shareholders following the grant date. These awards may be granted at or above fair value in any class of ordinary shares. Performance Awards The following is a summary of the material terms and conditions with respect to our performance-based awards for certain executive officers and key employees. These awards were granted under the Liberty Global 2014 Incentive Plan, the Liberty Global 2005 Incentive Plan and the VM Incentive Plan . Liberty Global PSU s. PSU s are granted to executive officers and key employees annually based on a target annual equity value for each executive and key employee, of which approximately two-thirds would be delivered in the form of an annual award of PSU s and approximately one-third in the form of an annual award of SAR s. Each currently-outstanding PSU represents the right to receive one Liberty Global or LiLAC Class A or Class C ordinary share, as applicable, subject to performance and vesting. Generally, the performance period for the PSU s covers a two -year period and the performance target is based on the achievement of a specified compound annual growth rate ( CAGR ) in a consolidated Adjusted OIBDA metric (as defined in note 18 ), adjusted for events such as acquisitions, dispositions and changes in foreign currency exchange rates that affect comparability ( Adjusted OIBDA CAGR ), and the participant’s annual performance ratings during the two -year performance period. A performance range of 75% to 125% of the target Adjusted OIBDA CAGR generally results in award recipients earning 50% to 150% of their respective PSU s, subject to reduction or forfeiture based on individual performance. The PSU s generally vest 50% on each of March 31 and September 30 of the year following the end of the performance period. Subsequent to December 31, 2015, the compensation committee of our board of directors approved the grant of up to 6.26 million PSU awards pursuant to a performance plan that is based on the achievement of a specified Adjusted OIBDA CAGR during the three -year period ended December 31, 2018 (with 2015 as the base year). We expect that over 95% of these awards will cover Liberty Global Shares and the remainder will cover LiLAC Shares . Liberty Global Challenge Performance Awards . Effective June 24, 2013, our compensation committee approved the Challenge Performance Awards , which consisted solely of PSAR s for our senior executive officers and a combination of PSAR s and PSU s for our other executive officers and key employees. Each PSU represents the right to receive one Liberty Global or LiLAC Class A or Class C ordinary share, as applicable, subject to performance and vesting. The performance criteria for the Challenge Performance Awards will be based on the participant’s performance and achievement of individual goals in each of the years 2013, 2014 and 2015. Subject to forfeitures and the satisfaction of performance conditions, 100% of each participant’s Challenge Performance Awards will vest on June 24, 2016. The PSAR s have a term of seven years and base prices equal to the respective market closing prices of the applicable class on the grant date. Liberty Global Performance Grant Award. Effective May 1, 2014, our compensation committee authorized the grant of PGUs to our Chief Executive Officer, comprising a total of one million PGUs with respect to Class A Old Liberty Global Shares and one million PGUs with respect to Class B Old Liberty Global Shares . The PGUs , which were subject to a performance condition that was achieved in 2014, vest in three equal annual installments, the first of which occurred on March 15, 2015. As a result of the LiLAC Transaction , our Chief Executive Officer also received 33,333 PGUs with respect to Class A LiLAC Shares and 33,333 PGUs with respect to Class B LiLAC Shares , each of which vest over the same period as the May 1, 2014 award grant described above. Share-based Award Activity — Liberty Global Ordinary Shares The following tables summarize the share-based award activity during 2015 with respect to awards issued by Liberty Global : Liberty Global Shares and Old Liberty Global Shares Options — Class A ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 1,726,259 $ 18.01 Granted 61,763 $ 54.97 Forfeited (13,836 ) $ 23.59 Exercised (920,468 ) $ 14.03 Outstanding at June 30, 2015 853,718 $ 24.90 Impact of Award Modifications 60,414 (2.32 ) Outstanding at July 1, 2015 914,132 $ 22.58 Forfeited (7,718 ) $ 22.61 Exercised (33,081 ) $ 15.19 Outstanding at December 31, 2015 873,333 $ 22.85 5.2 $ 17.5 Exercisable at December 31, 2015 414,553 $ 16.53 3.7 $ 10.7 Options — Class C ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 3,946,192 $ 17.67 Granted 622,301 $ 43.34 Forfeited (34,493 ) $ 22.23 Exercised (1,613,927 ) $ 14.99 Outstanding at June 30, 2015 2,920,073 $ 24.57 Impact of Award Modifications 204,344 (2.24 ) Outstanding at July 1, 2015 3,124,417 $ 22.33 Forfeited (41,208 ) $ 29.99 Exercised (344,673 ) $ 8.33 Outstanding at December 31, 2015 2,738,536 $ 23.98 5.8 $ 46.8 Exercisable at December 31, 2015 1,129,269 $ 15.55 3.5 $ 28.5 Liberty Global Shares and Old Liberty Global Shares — continued: SARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 5,607,988 $ 31.07 Granted 2,252,602 $ 53.11 Forfeited (106,696 ) $ 37.27 Exercised (354,800 ) $ 25.68 Outstanding at June 30, 2015 7,399,094 $ 37.95 Impact of Award Modifications 527,825 (3.36 ) Outstanding at July 1, 2015 7,926,919 $ 34.59 Granted 70,845 $ 51.21 Forfeited (99,761 ) $ 41.67 Exercised (204,851 ) $ 25.40 Outstanding at December 31, 2015 7,693,152 $ 34.89 4.6 $ 72.2 Exercisable at December 31, 2015 3,642,857 $ 26.56 3.4 $ 59.3 SARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 14,689,045 $ 28.49 Granted 4,505,204 $ 51.41 Forfeited (262,502 ) $ 34.80 Exercised (1,062,945 ) $ 23.48 Outstanding at June 30, 2015 17,868,802 $ 34.47 Impact of Award Modifications 1,250,817 (2.94 ) Outstanding at July 1, 2015 19,119,619 $ 31.53 Granted 141,690 $ 48.11 Forfeited (217,585 ) $ 38.57 Exercised (358,377 ) $ 25.17 Outstanding at December 31, 2015 18,685,347 $ 31.70 4.3 $ 199.9 Exercisable at December 31, 2015 10,003,440 — $ 24.31 3.2 $ 168.3 Liberty Global Shares and Old Liberty Global Shares — continued: PSARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 2,788,749 $ 35.10 Forfeited (35,625 ) $ 35.03 Exercised (4,166 ) $ 35.03 Outstanding at June 30, 2015 2,748,958 $ 35.10 Impact of Award Modifications 142,250 (3.17 ) Outstanding at July 1, 2015 2,891,208 $ 31.93 Forfeited (1,751 ) $ 31.87 Outstanding at December 31, 2015 2,889,457 $ 31.93 4.5 $ 30.1 Exercisable at December 31, 2015 14,602 $ 31.87 1.4 $ 0.2 PSARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 8,366,248 $ 33.48 Forfeited (106,875 ) $ 33.41 Exercised (12,499 ) $ 33.41 Outstanding at June 30, 2015 8,246,874 $ 33.48 Impact of Award Modifications 387,836 (2.96 ) Outstanding at July 1, 2015 8,634,710 $ 30.52 Forfeited (5,229 ) $ 30.46 Outstanding at December 31, 2015 8,629,481 $ 30.52 4.5 $ 88.4 Exercisable at December 31, 2015 43,671 $ 30.46 1.4 $ 0.5 Liberty Global Shares and Old Liberty Global Shares — continued: RSUs — Class A ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 565,270 $ 38.27 Granted 298,713 $ 53.11 Forfeited (18,827 ) $ 37.52 Released from restrictions (205,540 ) $ 37.16 Outstanding at June 30, 2015 639,616 $ 45.58 Impact of Award Modifications 30,748 (2.17 ) Outstanding at July 1, 2015 670,364 $ 43.41 Granted 13,890 $ 52.46 Forfeited (21,544 ) $ 43.61 Released from restrictions (97,734 ) $ 40.93 Outstanding at December 31, 2015 564,976 $ 44.06 3.4 RSUs — Class C ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,387,003 $ 35.59 Granted 597,426 $ 51.40 Forfeited (45,611 ) $ 34.70 Released from restrictions (553,929 ) $ 34.55 Outstanding at June 30, 2015 1,384,889 $ 42.85 Impact of Award Modifications 67,240 (1.74 ) Outstanding at July 1, 2015 1,452,129 $ 41.11 Granted 27,780 $ 49.14 Forfeited (47,384 ) $ 41.03 Released from restrictions (238,343 ) $ 37.61 Outstanding at December 31, 2015 1,194,182 $ 41.99 3.3 Liberty Global Shares and Old Liberty Global Shares — continued: PSUs and PGUs — Class A ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,989,693 $ 41.34 Granted 410,716 $ 52.82 Performance adjustment (a) 50,410 $ 37.31 Forfeited (22,619 ) $ 38.47 Released from restrictions (543,707 ) $ 41.12 Outstanding at June 30, 2015 1,884,493 $ 43.84 Impact of Award Modifications 1,185 (2.10 ) Outstanding at July 1, 2015 1,885,678 $ 41.74 Granted 15,410 $ 52.46 Forfeited (3,054 ) $ 38.66 Released from restrictions (207,834 ) $ 35.54 Outstanding at December 31, 2015 1,690,200 $ 42.61 1.2 PGUs — Class B ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,000,000 $ 44.55 Released from restrictions (333,333 ) $ 44.55 Outstanding at June 30, 2015 666,667 $ 44.55 Impact of Award Modifications — (2.12 ) Outstanding at July 1 and December 31, 2015 666,667 $ 42.43 1.2 Liberty Global Shares and Old Liberty Global Shares — continued: PSUs — Class C ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 2,442,767 $ 36.71 Granted 821,432 $ 51.12 Performance adjustment (a) 147,179 $ 34.80 Forfeited (58,997 ) $ 36.02 Released from restrictions (614,341 ) $ 34.80 Outstanding at June 30, 2015 2,738,040 $ 41.38 Impact of Award Modifications 3,126 (1.98 ) Outstanding at July 1, 2015 2,741,166 $ 39.40 Granted 30,820 $ 49.14 Forfeited (6,292 ) $ 36.74 Released from restrictions (607,343 ) $ 33.15 Outstanding at December 31, 2015 2,158,351 $ 41.30 1.1 _______________ (a) Represents the increase in PSU s associated with the first quarter 2015 determination that 113.6% of the PSU s that were granted in 2013 (the 2013 PSU s ) had been earned. As of December 31, 2015 , all of the earned 2013 PSU s have been released from restrictions. LiLAC Shares Options — Class A ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 21,233 24.29 Outstanding at July 1 and December 31, 2015 21,233 $ 24.29 4.1 $ 0.4 Exercisable at December 31, 2015 14,145 $ 16.12 3.2 $ 0.4 Options — Class C ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 57,742 22.42 Outstanding at July 1 and December 31, 2015 57,742 $ 22.42 3.8 $ 1.2 Exercisable at December 31, 2015 42,321 $ 15.97 3.1 $ 1.1 LiLAC Shares — continued: SARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 223,823 30.54 Outstanding at July 1, 2015 223,823 $ 30.54 Granted 10,107 $ 42.76 Forfeited (381 ) $ 32.76 Exercised (357 ) $ 28.19 Outstanding at December 31, 2015 233,192 $ 31.07 4.4 $ 2.6 Exercisable at December 31, 2015 122,905 $ 23.93 3.3 $ 2.2 SARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 560,844 29.27 Outstanding at July 1, 2015 560,844 $ 29.27 Granted 20,214 $ 42.55 Forfeited (909 ) $ 32.38 Exercised (876 ) $ 27.26 Outstanding at December 31, 2015 579,273 $ 29.73 4.1 $ 8.0 Exercisable at December 31, 2015 339,951 $ 23.28 3.1 $ 6.7 PSARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 140,215 30.08 Outstanding at July 1, 2015 140,215 $ 30.08 Forfeited (88 ) $ 30.02 Outstanding at December 31, 2015 140,127 $ 30.08 4.5 $ 1.6 Exercisable at December 31, 2015 305 $ 30.02 1.8 $ — LiLAC Shares — continued: PSARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 — $ — Impact of Award Modifications 418,753 30.30 Outstanding at July 1, 2015 418,753 $ 30.30 Forfeited (261 ) $ 30.23 Outstanding at December 31, 2015 418,492 $ 30.30 4.5 $ 5.3 Exercisable at December 31, 2015 913 $ 30.23 1.8 $ — RSUs — Class A ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 — $ — Impact of Award Modifications 397 52.94 Outstanding at July 1, 2015 397 $ 52.94 Granted 1,316 $ 42.76 Outstanding at December 31, 2015 1,713 $ 45.12 3.0 RSUs — Class C ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 — $ — Impact of Award Modifications 796 48.68 Outstanding at July 1, 2015 796 $ 48.68 Granted 2,632 $ 42.55 Outstanding at December 31, 2015 3,428 $ 43.97 3.0 PSUs and PGUs — Class A ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 — $ — Impact of Award Modifications 92,932 41.85 Outstanding at July 1, 2015 92,932 $ 41.85 Granted 3,007 $ 42.76 Forfeited (153 ) $ 38.63 Released from restrictions (9,483 ) $ 35.72 Outstanding at December 31, 2015 86,303 $ 42.56 1.2 LiLAC Shares — continued: PGUs — Class B ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 — $ — Impact of Award Modifications 33,333 42.43 Outstanding at July 1 and December 31, 2015 33,333 $ 42.43 1.2 PSUs — Class C ordinary shares Number of shares Weighted average grant date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 — $ — Impact of Award Modifications 133,609 39.59 Outstanding at July 1, 2015 133,609 $ 39.59 Granted 6,014 $ 42.55 Forfeited (317 ) $ 36.70 Released from restrictions (28,091 ) $ 33.26 Outstanding at December 31, 2015 111,215 $ 41.36 1.1 |