Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.8.0.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
Wyndham Worldwide maintains a stock-based compensation plan (the “Stock Plan”) for the benefit of its officers, directors and employees. The following disclosures represent the portion of the Stock Plan activity attributable to Wyndham Hotels employees. All share-based compensation awards granted under the Stock Plan relate to Wyndham Worldwide common stock. As such, all related equity account balances are reflected in Wyndham Worldwide’s Consolidated Statements of Equity and have not been reflected in Wyndham Hotels’ Condensed Combined Financial Statements.
Incentive Equity Awards Granted by Wyndham Worldwide
The activity related to incentive equity awards (in the form of time-vesting restricted stock units (“RSUs”) and performance-vesting restricted stock units (“PSUs”)) granted by Wyndham Worldwide to Wyndham Hotels employees for the three months ended March 31, 2018 consisted of the following:
 
RSUs
 
PSUs
 
Number of
RSUs
 
Weighted
Average
Grant Price
 
Number
of
PSUs
 
Weighted
Average
Grant Price
Balance as of December 31, 2017
0.3

 
$
79.96

 
0.1

 
$
81.05

Granted(a)
0.1

 
115.61

 
—

 
—

Vested/exercised
(0.1
)
 
78.55

 
—

 
—

Balance as of March 31, 2018
0.3

(b)(c) 
$
87.63

 
0.1

(d) 
$
77.08


(a)
Primarily represents awards granted by Wyndham Worldwide on March 1, 2018.
(b)
Aggregate unrecognized compensation expense related to RSUs was $21 million as of March 31, 2018, which is expected to be recognized over a weighted average period of 2.8 years.
(c)
Approximately 0.3 million RSUs outstanding as of March 31, 2018 are expected to vest over time.
(d)
Maximum aggregate unrecognized compensation expense related to PSUs was $2 million as of March 31, 2018, which is expected to be recognized over a weighted average period of 1.6 years.

Stock-Based Compensation Expense
Under the Stock Plan, Wyndham Worldwide awarded RSUs and PSUs to certain employees. Stock-based compensation expense for these awards amounted to $3 million and $2 million for the three months ended March 31, 2018 and 2017, respectively. In August 2017, in conjunction with the spin-off of Wyndham Worldwide’s hotel franchising and management businesses, the Wyndham Worldwide board of directors approved certain modifications to the incentive equity awards granted by Wyndham Worldwide, which modifications were contingent upon the completion of the spin-off.