Stock biomass - Predicted total biomass and spawning output in eggs are summarized in Table 4.2.4.1. Total biomass generally decreased until 1980, then remained fairly constant (Figure 4.2.5.1). The decreasing trend seen in total biomass is also evident in the predicted spawning output time-series (Figure 4.2.5.2), and in the spawning depletion estimate (SSB/S0; Figure 4.2.5.3). - Fishing mortality - The predicted fishing mortalities (overall and by fleet) are presented in Table 4.2.6.1 and Figure 4.2.6.1. Predicted total fishing mortality declined, on average, between 1981 and 2015, although the 2004 fishing mortality increased over 2010. In recent years, the main source of directed fishing mortality is the recreational private fleet. The recreational shore fleet accounts for the next highest fishing mortality (Figure 4.2.6.2). Although the commercial fleets exhibited significant fishing pressure in the early 1990s, fishing mortality due to commercial fishing has remained low in recent years. - Benchmark and reference points - Annual estimates of SSB, F, SSB/SPR30, SSB/MSST and F/FSPR30 are summarized in Table 4.2.9.1. Reference points of interest are summarized in Table 4.2.9.2. For benchmarks and reference point calculations, SPR30% was selected as an MSY-proxy, and used to calculate stock status. The minimum stock size threshold (MSST) is defined as 50% of SSB_SPR 30. The maximum fishing mortality threshold (MFMT) is defined (the generic rule in the GMFMC FMP) as F30%SPR. A stock is declared overfished if SSBcurrent <- MSST, and overfishing is occurring if Fcurrent > MFMT. For purposes of calculating Fcurrent, “current time period” is defined as the geometric mean of Fs for 2013-2015. SSBcurrent is the model estimated SSB for calendar year 2015. Based on these definitions, the stock biomass was below MSST from 1989-1995, but has remained above MSST since that time. The current stock status is not overfished (SSB2015/SSB_SPR30 = 0.703). Using the generic Fmsy proxy (FSPR30), the stock has been experiencing overfishing since 1976 (with few exceptions), and is current undergoing overfishing (Fcurrent/FSPR30 = 1.20). The assessment model predicts that total biomass and the spawning potential (egg production) have decreased throughout the time series, and are currently estimated near (or at) the lowest annual value. Despite a decline in fishing mortality in all fleets since 2010, the stock has shown little sign of increase. The Gray Snapper fishery is dominated by recreational fishing. Despite regulations, implemented in 1990, to increase size limits, the species has not exhibited a substantive increase in spawning stock biomass. This may be the result of unexpectedly high discards in excess of landings in both the commercial and recreational fleets following the implementation of a length limit.