Stock Plans and Other Incentives (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table presents option activity and other plan data for the nine months ended September 30, 2016 and 2015:


	For the Nine Months Ended September 30,
	2016				2015
	Options		Weighted- Average Exercise Price		Options		Weighted- Average Exercise Price

Outstanding at beginning of period		547,500	$	9.61		582,500	$	9.52
Granted		—	$	—		—	$	—
Exercised		(17,500)	$	(8.74)		(27,500)	$	(7.50)
Forfeited/cancelled/expired		—	$	—		—	$	—

Outstanding at end of period		530,000	$	9.64		555,000	$	9.63

Options exercisable at end of period		518,000	$	9.44		539,000	$	9.36

Changes in RSUs

The following table presents the changes in RSUs outstanding for the nine months ended September 30, 2016 and 2015:


	For the Nine Months Ended September 30,
	2016		2015

Outstanding at beginning of period		254,041		277,973
Granted		123,023		81,620
Common stock delivered (A) (B)		(85,181)		(105,970)
Forfeited		(4,451)		(1,103)

Outstanding at end of period		287,432		252,520


Intrinsic value (C)	$	5,880,859	$	5,719,578

(A)

The 2016 period includes 32,760 shares which were used to settle minimum employee withholding tax obligations for 29 employees of approximately $701,000 in 2016. A net of 52,421 shares of common stock were delivered in 2016.

(B)

The 2015 period includes 41,136 shares which were used to settle minimum employee withholding tax obligations for 28 employees of approximately $993,000 in 2015. A net of 64,834 shares of common stock were delivered in 2015.

(C)

For purposes of this calculation, the Company’s closing stock prices were $20.46 and $22.65 per share on September 30, 2016 and 2015, respectively.