CW 2020 Annual Report

the years ended December 31, 2020 and 2019 ranged from $16.87 per margin-accretion based award to $19.05 per TSR-based award and $17.85 per margin-accretion based award to $21.43 per TSR-based award, respectively. The following table summarizes the Company’s outstanding RSUs (in millions, except for per share amounts):

Performance-Based RSUs

Co-Investment RSUs

Time-Based RSUs

Weighted Average Fair Value per Share

Weighted Average Fair Value per Share

Weighted Average Fair Value per Share

Number of RSUs

Number of RSUs

Number of RSUs

Unvested as of December 31, 2017

0.7 0.1

$

11.28 17.00

7.0 0.7 1.8

$

13.48 17.09 18.08 14.63 13.44 14.63 17.78 17.41 16.55 15.63 15.39 14.63 17.29 15.73 —

2.5 0.2 0.9

$

1.50 3.18

Granted

Granted through modification

—

—

17.29 17.29

Vested

(0.1)

10.32

(1.6)

(0.2) (2.7)

Modified Forfeited

—

—

—

1.56

(0.1)

11.77 11.50

(0.1)

—

—

Unvested as of December 31, 2018

0.6

$

7.8 1.9

$

0.7 0.4

$

15.94 19.64

Granted Vested Forfeited Granted Vested Forfeited

—

—

(0.6) (0.0)

11.38 17.00 17.00

(3.9) (0.1)

— —

— —

Unvested as of December 31, 2019

0.0

$

5.7 2.2

$

1.1 0.6

$

17.08 17.25 17.29 18.70 17.04

—

—

(0.0)

17.00

(3.5) (0.3)

(0.1) (0.1)

— —

— —

$

4.1

$

1.5

$

Unvested as of December 31, 2020

The following table summarizes the Company's compensation expense related to RSUs (in millions):

Year Ended December 31,

Unrecognized at December 31, 2020

2020

2019

2018

Time-Based RSUs Co-Investment RSUs

$

37.4 $

43.4 $

43.8 $

44.8

0.1 4.0

0.4 1.9

0.6

—

Performance-Based RSUs

15.4

9.1

Equity classified compensation cost Liability classified compensation cost Total RSU stock-based compensation cost (1)

$

41.5 $

45.7 $

59.8 $

53.9

—

—

4.9

—

$

41.5 $

45.7 $

64.7 $

53.9

(1) In the third quarter of 2018, all liability classified awards were reclassified to equity, due to certain contingencies being lifted.

The total unrecognized compensation cost related to non-vested RSU awards is expected to be recognized over a weighted average period of approximately 2.4 years.

Note 13: Restructuring As a result of operating efficiency initiatives announced in February 2020, the Company recognized restructuring charges of $52.7 million during the year ended December 31, 2020. The charges primarily consisted of severance and employment-related costs due to reductions in headcount. All charges were classified as Restructuring, impairment and related charges in the Consolidated Statements of Operations. The following table details the Company’s severance and employment-related restructuring activity for the year ended December 31, 2020 (in millions):

90