Equity Compensation, Employment Agreements and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Compensation Related Costs [Abstract]

Schedule of restricted stock units activity

The following table presents information with respect to the Company’s RSUs during the years ended December 31, 2017, 2016 and 2015:

	For the Year Ended December 31, 2017
	RSUs With Service Condition		Weighted Average Grant Date Fair Value		RSUs With Market and Service Conditions		Weighted Average Grant Date Fair Value		Total RSUs		Total  Weighted Average  Grant Date  Fair Value
Outstanding at beginning of year:	1,194,299		$	7.38	863,800		$	5.45	2,058,099		$	6.57
Granted (1)	447,695		7.96		451,250		6.48		898,945		7.22
Settled	(616,966	)	7.32		(293,800	)	5.83		(910,766	)	6.84
Cancelled/forfeited	—		—		—		—		—		—
Outstanding at end of year	1,025,028		$	7.67	1,021,250		$	5.80	2,046,278		$	6.73
RSUs vested but not settled at end of year	586,419		$	7.98	275,000		$	5.73	861,419		$	7.26
RSUs unvested at end of year	438,609		$	7.25	746,250		$	5.82	1,184,859		$	6.35

	For the Year Ended December 31, 2016
	RSUs With Service Condition		Weighted Average Grant Date Fair Value		RSUs With Market and Service Conditions		Weighted Average Grant Date Fair Value		Total RSUs		Total  Weighted Average  Grant Date  Fair Value
Outstanding at beginning of year:	1,138,930		$	7.71	736,800		$	5.66	1,875,730		$	6.90
Granted (2)	420,695		6.81		307,500		4.81		728,195		5.96
Settled	(360,326	)	7.75		(175,500	)	5.21		(535,826	)	6.92
Cancelled/forfeited	(5,000	)	7.32		(5,000	)	5.27		(10,000	)	6.29
Outstanding at end of year	1,194,299		$	7.38	863,800		$	5.45	2,058,099		$	6.57
RSUs vested but not settled at end of year	617,518		$	7.45	293,800		$	5.83	911,318		$	6.93
RSUs unvested at end of year	576,781		$	7.30	570,000		$	5.25	1,146,781		$	6.28

	For the Year Ended December 31, 2015
	RSUs With Service Condition		Weighted Average Grant Date Fair Value		RSUs With Market and Service Conditions		Weighted Average Grant Date Fair Value		Total RSUs		Total  Weighted Average  Grant Date  Fair Value
Outstanding at beginning of year:	769,174		$	7.55	449,300		$	5.61	1,218,474		$	6.84
Granted (3)	390,804		7.96		291,250		5.73		682,054		7.01
Settled	(17,298	)	6.60		—		—		(17,298	)	6.60
Cancelled/forfeited	(3,750	)	7.97		(3,750	)	5.73		(7,500	)	6.85
Outstanding at end of year	1,138,930		$	7.71	736,800		$	5.66	1,875,730		$	6.90
RSUs vested but not settled at end of year	554,023		$	7.83	175,500		$	5.21	729,523		$	7.20
RSUs unvested at end of year	584,907		$	7.59	561,300		$	5.80	1,146,207		$	6.71

(1) The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 758,750 of these awards granted in 2017, the Company applied:  (i) a weighted average volatility estimate of approximately 15%, which was determined considering historic volatility in the price of the Company’s and its peer group companies’ common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 1.46% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards.  The weighted average grant date fair value for the remaining 140,195 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $8.31. There are no post vesting conditions on these awards.

(2) The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 615,000 of these awards granted in 2016, the Company applied:  (i) a weighted average volatility estimate of approximately 17%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 1.20% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 11%.  The weighted average grant date fair value for the remaining 113,195 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $7.20. There are no post vesting conditions on these awards.

(3) The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 582,500 of these awards granted in 2015, the Company applied:  (i) a weighted average volatility estimate of approximately 18%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.90% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 9%.  The weighted average grant date fair value for the remaining 99,554 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date ranging from $7.93 to $7.97. There are no post vesting conditions on these awards.

Schedule of restricted stock activity

The following table presents information with respect to the Company’s restricted stock for the years ended December 31, 2017, 2016 and 2015:

	For the Year Ended December 31,
	2017				2016				2015
	Shares of Restricted Stock		Weighted Average Grant Date Fair Value (1)		Shares of Restricted Stock		Weighted Average Grant Date Fair Value (1)		Shares of Restricted Stock		Weighted Average Grant Date Fair Value (1)
Outstanding at beginning of year:	28,968		$	7.12	110,920		$	7.41	243,948		$	7.48
Granted	214,859		8.06		487,216		7.66		497,007		6.83
Vested (2)	(243,827	)	7.95		(567,851	)	7.64		(629,212	)	6.98
Cancelled/forfeited	—		—		(1,317	)	7.12		(823	)	7.74
Outstanding at end of year	—		$	—	28,968		$	7.12	110,920		$	7.41

(1) The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.

(2) All restrictions associated with restricted stock are removed on vesting.

Schedule of dividend equivalent rights activity

The following table presents information about the Company’s dividend equivalents rights awarded as separate instruments at and for each of the years ended December 31, 2016 and 2015. No such awards were granted during 2017:

	For the Year Ended December 31,
	2016		2015
	Number of Dividend Equivalent Rights
Outstanding at beginning of year:	8,215		24,402
Granted	—		—
Cancelled, forfeited or expired	(8,215	)	(16,187	)
Outstanding at end of year	—		8,215

Schedule of expenses related to equity-based compensation

The following table presents the Company’s expenses related to its equity-based compensation instruments for the years ended December 31, 2017, 2016 and 2015:

	For the Year Ended December 31,
(In Thousands)	2017		2016		2015
RSUs (1)	$	6,098	$	4,792	$	3,377
Restricted shares of common stock	1,935		4,326		4,373
Dividend equivalent rights	—		44		82
Total	$	8,033	$	9,162	$	7,832

(1) Equity-based compensation for the year ended December 31, 2017 includes a one-time expense of approximately $900,000 for the accelerated vesting of certain time-based equity awards arising from the death of the Company’s former Chief Executive Officer.

Schedule of expenses related to deferred compensation plans

The following table presents the Company’s expenses related to its Deferred Plans for its non-employee directors and senior officers for the years ended December 31, 2017, 2016 and 2015:

	For the Year Ended December 31,
(In Thousands)	2017		2016		2015
Non-employee directors	$	171	$	231	$	(59	)
Total	$	171	$	231	$	(59	)

Schedule of aggregate income deferred by participants and associated liability under deferred compensation plans

The following table presents the aggregate amount of income deferred by participants of the Deferred Plans through December 31, 2017 and 2016 that had not been distributed and the Company’s associated liability for such deferrals at December 31, 2017 and 2016:

	December 31, 2017				December 31, 2016
(In Thousands)	Undistributed Income Deferred (1)		Liability Under Deferred Plans		Undistributed Income Deferred (1)		Liability Under Deferred Plans
Non-employee directors	$	1,688	$	2,056	$	1,066	$	1,263
Total	$	1,688	$	2,056	$	1,066	$	1,263

(1)  Represents the cumulative amounts that were deferred by participants through December 31, 2017 and 2016, which had not been distributed through such respective date.