Subsequent Events

12 Months Ended

Dec. 31, 2014

Subsequent Events

17. Subsequent Events

In January 2015, the Company awarded 204,395 shares of restricted stock to certain employees. The fair value of the stock award on the date of grant totaled $6,906, which will be recognized as expense, net of estimated forfeitures, on a straight-line basis over the three-year vesting period.

In January 2015, the Company awarded 5,020 units of phantom shares to certain key international employees. The fair value of the stock award on the date of grant totaled $169.

In January 2015, the Company’s Board of Directors authorized the repurchase of up to two million shares of the Company’s Common Stock. As of February 17, 2015, the Company had not yet repurchased any shares under this plan.

Subsequent to December 31, 2014, the Company drew down $10,000 on its existing revolving credit facility to support various commitments. As of February 26, 2015, the balance outstanding on the Company’s revolving credit facility was $35,000.

Given current business conditions, the Company expects to idle its plant in China during the first quarter of 2015.