maintenance of certain covenants. Due to losses incurred in the CLO, at December 31, 2015 and September 30, 2015, the CLO was not accruing interest on the subordinated debt.
In February 2015, Salus signed a $2.5 Senior Secured promissory note with FGL originally due on May 29, 2015, which has been extended to February 26, 2016 with fixed interest of 5.3% to be paid semi-annually.
(10) Stock Compensation
The Company recognized consolidated stock compensation expense of $15.0 and $14.1 during the three months ended December 31, 2015 and 2014, respectively. Stock compensation expense is principally included in “Selling, acquisition, operating and general expenses” in the accompanying Condensed Consolidated Statements of Operations.
A summary of stock options outstanding as of December 31, 2015 and related activity during the three months then ended are as follows (option amounts in thousands):
|
| | | | | | | | | | | |
| | HRG |
Stock Option Awards | | Options | | Weighted Average Exercise Price | | Weighted Average Grant Date Fair Value |
Stock options outstanding at September 30, 2015 | | 4,770 |
| | $ | 9.25 |
| | $ | 3.70 |
|
Granted | | 28 |
| | 13.93 |
| | 5.07 |
|
Exercised | | (401 | ) | | 8.07 |
| | 3.12 |
|
Stock options outstanding at December 31, 2015 | | 4,397 |
| | 9.39 |
| | 3.77 |
|
Stock options vested and exercisable at December 31, 2015 | | 3,305 |
| | 8.43 |
| | 3.39 |
|
Stock options outstanding and expected to vest | | 4,397 |
| | 9.39 |
| | 3.77 |
|
A summary of restricted stock, restricted stock units and performance restricted stock units outstanding as of December 31, 2015 and related activity during the three months then ended, under HRG and Spectrum Brands are as follows (share amounts in thousands):
|
| | | | | | | |
| | HRG |
Restricted Stock Awards | | Shares | | Weighted Average Grant Date Fair Value |
Nonvested restricted stock outstanding at September 30, 2015 | | 4,283 |
| | $ | 11.74 |
|
Granted | | 99 |
| | 13.93 |
|
Exercised/Released | | (2,141 | ) | | 10.79 |
|
Nonvested restricted stock outstanding at December 31, 2015 | | 2,241 |
| | 12.74 |
|
|
| | | | | | | | | | | | | | |
| | HRG | | Spectrum Brands |
Restricted Stock Units | | Units | | Weighted Average Grant Date Fair Value | | Units | | Weighted Average Grant Date Fair Value |
Restricted stock units outstanding at September 30, 2015 | | 42 |
| | $ | 12.33 |
| | 608 |
| | $ | 87.50 |
|
Granted | | 6 |
| | 13.93 |
| | 442 |
| | 95.22 |
|
Vested/Exercised | | — |
| | — |
| | (419 | ) | | 85.97 |
|
Forfeited or Expired | | — |
| | — |
| | (69 | ) | | 89.55 |
|
Restricted stock units outstanding at December 31, 2015 | | 48 |
| | 12.52 |
| | 562 |
| | 94.49 |
|
A summary of warrants outstanding as of December 31, 2015 and related activity during the three months then ended, under HRG‘s incentive plan are as follows (share amounts in thousands):
|
| | | | | | | | | | | |
| | HRG |
Warrants | | Units | | Weighted Average Exercise Price | | Weighted Average Grant Date Fair Value |
Warrants outstanding at September 30, 2015 | | 1,800 |
| | $ | 13.13 |
| | $ | 3.22 |
|
Warrants outstanding at December 31, 2015 | | 1,800 |
| | 13.13 |
| | 3.22 |
|
Warrants outstanding and expected to vest | | 1,800 |
| | 13.13 |
| | 3.22 |
|
