Stock-Based Compensation	9 Months Ended
Sep. 30, 2015
Stock-Based Compensation
Stock-Based Compensation	9. Stock-Based Compensation Stock Options and Grants There were no stock options granted during the nine months ended September 30, 2015 and 2014. The Company recognized no stock-based compensation expense related to stock options for the nine months ended September 30, 2015 and 2014, as all stock options previously granted were fully vested. As of September 30, 2015, there were no unrecognized compensation costs related to unvested stock options. On April 21, 2015, the Company authorized vested stock grants to certain directors totaling 32,357 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $725 and is included in General and administrative expenses within the Condensed Consolidated Statement of Income. On April 22, 2014, the Company authorized vested stock grants to certain directors totaling 19,336 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $491 and is included in General and administrative expenses within the Condensed Consolidated Statement of Income. On September 29, 2015, the Company authorized vested stock grants to two former executives of the Company, totaling 8,624 common shares, to satisfy cash obligations of the Company. The total value of the grant, based on the fair value of the common stock on the grant date, was $200 and is included in stock-based compensation within General and administrative expenses of the Condensed Consolidated Statement of Income. Restricted Stock Units During the nine months ended September 30, 2015, the Company authorized certain one-time grants of 3,963 restricted stock units to an executive that vest five years from date of issuance. During the nine months ended September 30, 2015, 58,816 restricted stock units vested. During the nine months ended September 30, 2015 and 2014, 6,600 and 4,124, respectively, restricted stock units were forfeited under the amended and restated Long-Term Incentive Plan and became available for reissuance. The Company recognized $422 and $679 of stock-based compensation expense related to the restricted stock units for the three months ended September 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Condensed Consolidated Statements of Income. The Company recognized $1,227 and $2,129 of stock-based compensation expenses related to restricted stock units for the nine months ended September 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Condensed Consolidated Statements of Income. As of September 30, 2015, there was $3,217 of unrecognized stock-based compensation costs, net of estimated forfeitures, related to the restricted stock units that are expected to be recognized over a weighted average remaining period of approximately 4.0 years. Performance Share Units In September 2014, the Board of Directors authorized a performance-based incentive program under the Company’s Long-Term Incentive Plan (“Performance-Based Incentive Program”), whereby the Company will issue performance share units to certain executive management individuals that represent shares potentially issuable in the future. The objective of the Performance-Based Incentive Program is to link compensation to business performance, encourage ownership of Company stock, retain executive talent, and reward executive performance. The Performance-Based Incentive Program provides participating executive management individuals with the opportunity to earn vested common stock if certain performance targets for pre-tax free cash flow are achieved over a three year performance period and recipients satisfy service-based vesting requirements. The stock-based compensation expense associated with unvested performance share units are recognized on a straight-line basis over the shorter of the vesting period or minimum service period and dependent upon the probable outcome of the number of shares that will ultimately be issued based on the achievement of pre-tax free cash flow over the cumulative three year period. In April 2015 and September 2014 the Company granted 103,600 and 91,054 performance share units, respectively, to certain individuals within executive management. During the nine months ended September 30, 2015, 4,009 performance share units were forfeited under the amended and restated Long-Term Incentive Plan and became available for reissuance. No performance share units were vested as of September 30, 2015. The Company recognized $340 and $946 of stock-based compensation expense related to the Performance-Based Incentive Program for the three and nine months ended September 30, 2015, respectively, and is included in General and administrative expenses within the Condensed Consolidated Statements of Income. The Company recognized $184 of stock-based compensation expense related to the Performance-Based Incentive Program for the three and nine months ended September 30, 2014. No performance share units were forfeited as of September 30, 2014. Future compensation expense for currently outstanding awards under the Performance Based Incentive Program could reach a maximum of $6,929. Stock-based compensation for the Performance-Based Incentive Program is expected to be recognized over a weighted average period of 1.9 years.

9. Stock-Based Compensation

Stock Options and Grants

There were no stock options granted during the nine months ended September 30, 2015 and 2014. The Company recognized no stock-based compensation expense related to stock options for the nine months ended September 30, 2015 and 2014, as all stock options previously granted were fully vested. As of September 30, 2015, there were no unrecognized compensation costs related to unvested stock options.

On April 21, 2015, the Company authorized vested stock grants to certain directors totaling 32,357 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $725 and is included in General and administrative expenses within the Condensed Consolidated Statement of Income. On April 22, 2014, the Company authorized vested stock grants to certain directors totaling 19,336 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $491 and is included in General and administrative expenses within the Condensed Consolidated Statement of Income.

On September 29, 2015, the Company authorized vested stock grants to two former executives of the Company, totaling 8,624 common shares, to satisfy cash obligations of the Company. The total value of the grant, based on the fair value of the common stock on the grant date, was $200 and is included in stock-based compensation within General and administrative expenses of the Condensed Consolidated Statement of Income.

Restricted Stock Units

During the nine months ended September 30, 2015, the Company authorized certain one-time grants of 3,963 restricted stock units to an executive that vest five years from date of issuance. During the nine months ended September 30, 2015, 58,816 restricted stock units vested. During the nine months ended September 30, 2015 and 2014, 6,600 and 4,124, respectively, restricted stock units were forfeited under the amended and restated Long-Term Incentive Plan and became available for reissuance.

The Company recognized $422 and $679 of stock-based compensation expense related to the restricted stock units for the three months ended September 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Condensed Consolidated Statements of Income. The Company recognized $1,227 and $2,129 of stock-based compensation expenses related to restricted stock units for the nine months ended September 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Condensed Consolidated Statements of Income. As of September 30, 2015, there was $3,217 of unrecognized stock-based compensation costs, net of estimated forfeitures, related to the restricted stock units that are expected to be recognized over a weighted average remaining period of approximately 4.0 years.

Performance Share Units

In September 2014, the Board of Directors authorized a performance-based incentive program under the Company’s Long-Term Incentive Plan (“Performance-Based Incentive Program”), whereby the Company will issue performance share units to certain executive management individuals that represent shares potentially issuable in the future. The objective of the Performance-Based Incentive Program is to link compensation to business performance, encourage ownership of Company stock, retain executive talent, and reward executive performance. The Performance-Based Incentive Program provides participating executive management individuals with the opportunity to earn vested common stock if certain performance targets for pre-tax free cash flow are achieved over a three year performance period and recipients satisfy service-based vesting requirements. The stock-based compensation expense associated with unvested performance share units are recognized on a straight-line basis over the shorter of the vesting period or minimum service period and dependent upon the probable outcome of the number of shares that will ultimately be issued based on the achievement of pre-tax free cash flow over the cumulative three year period. In April 2015 and September 2014 the Company granted 103,600 and 91,054 performance share units, respectively, to certain individuals within executive management. During the nine months ended September 30, 2015, 4,009 performance share units were forfeited under the amended and restated Long-Term Incentive Plan and became available for reissuance. No performance share units were vested as of September 30, 2015.

The Company recognized $340 and $946 of stock-based compensation expense related to the Performance-Based Incentive Program for the three and nine months ended September 30, 2015, respectively, and is included in General and administrative expenses within the Condensed Consolidated Statements of Income. The Company recognized $184 of stock-based compensation expense related to the Performance-Based Incentive Program for the three and nine months ended September 30, 2014. No performance share units were forfeited as of September 30, 2014. Future compensation expense for currently outstanding awards under the Performance Based Incentive Program could reach a maximum of $6,929. Stock-based compensation for the Performance-Based Incentive Program is expected to be recognized over a weighted average period of 1.9 years.