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SEC Filings

10-Q
TERRAFORM GLOBAL, INC. filed this Form 10-Q on 11/08/2017
Entire Document
 

Restricted Stock Awards
RSAs provide the holder with immediate voting rights, but are restricted in all other respects until vested. Upon a termination of employment for any reason, any unvested shares of Class A common stock held by the terminated participant will be forfeited. All unvested RSAs are paid dividends and distributions.
The following table presents information regarding outstanding RSAs as of September 30, 2017 and changes during the nine months then ended:
 
Number of RSAs Outstanding
 
Weighted Average Grant Date Fair Value Per Share
 
Aggregate Intrinsic Value
(in millions)
Balance at January 1, 2017
4,688,975

 
$
0.18

 
 
Converted
(1,280,000
)
 
 
 
 
Forfeited
(427,561
)
 
0.21

 
 
Balance at September 30, 2017
2,981,414

 
$
0.17

 
$
14.2

As of September 30, 2017, $0.4 million of total unrecognized compensation cost related to RSAs is expected to be recognized over a weighted average period of approximately 1.9 years.
The weighted average fair value of RSAs on the date of grant was $0.17 and $0.18 for the nine months ended September 30, 2017 and 2016, respectively.
Restricted Stock Units
RSUs do not entitle the holders to voting rights and holders of the RSUs do not have any right to receive dividends or distributions.
The following table presents information regarding outstanding RSUs as of September 30, 2017 and changes during the nine months then ended:
 
Number of RSUs Outstanding
 
Aggregate Intrinsic Value
(In millions)
 
Weighted Average 
Remaining
Contractual Life (In years)
Balance at January 1, 2017
2,311,687

 
 
 
 
Granted
909,525

 
 
 
 
Converted
(342,903
)
 
 
 
 
Forfeited
(731,932
)
 
 
 
 
Balance at September 30, 2017
2,146,377

 
$
10.2

 
1.1
As of September 30, 2017, $5.6 million of total unrecognized compensation cost related to RSUs is expected to be recognized over a weighted average period of approximately 1.8 years.

13. LOSS PER SHARE
Loss per share is calculated utilizing the weighted average shares outstanding. Under the two-class method, unvested RSAs that contain non-forfeitable rights to dividends are treated as participating securities and are included in the earnings per share computation to the extent that there are undistributed earnings available, but these securities do not participate in losses.
Class A Common Stock
Basic and diluted loss per share for the three and nine months ended September 30, 2017 and 2016 was calculated as follows:

33