Number of Stock Options | Weighted Average Exercise Price | ||||
Balance, January 1, 2016 | 2,403,985 | $ | 37.07 | ||
Granted during the year | 185,000 | 21.02 | |||
Forfeited during the year | (241,800 | ) | 39.00 | ||
Cancelled during the year | (200,000 | ) | 67.90 | ||
Exercised during the year | (12,500 | ) | 10.32 | ||
Balance, December 31, 2016 | 2,134,685 | $ | 32.73 | ||
Weighted-average exercise price of options exerciseable as at December 31, 2016 | $ | 23.79 | |||
Balance, January 1, 2017 | 2,134,685 | $ | 32.73 | ||
Forfeited during the year | (360,500 | ) | 38.03 | ||
Cancelled during the year | (219,185 | ) | 20.21 | ||
Balance, December 31, 2017 | 1,555,000 | $ | 33.27 | ||
Weighted-average exercise price of options exerciseable as at December 31, 2017 | $ | 27.84 |