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Stock-Based Compensation (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
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| Summary of Assumptions Used to Estimate Fair Value of Each SAR |
The fair value
of each stock option award and SAR is estimated on the date of
grant using a Black-Scholes option-pricing model. For SARs issued
in the years ended December 31, 2013, 2012 and 2011,
respectively, the assumptions shown in the following table were
used:
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Year Ended December 31, |
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2013 |
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2012 |
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2011 |
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Dividend yield
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0 |
% |
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0 |
% |
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0 |
% |
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Average risk-free interest
rate
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0.7 |
% |
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0.8 |
% |
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2.0 |
% |
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Expected term
(years)
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5 |
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5 |
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5 |
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Volatility
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63.7 |
% |
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65.9 |
% |
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65.0 |
% |
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| Stock Option Activity |
Stock option
activity under the Plan and a predecessor stock incentive plan is
as follows:
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Options |
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Weighted-
Average
Exercise
Price
Per Share |
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Weighted-
Average
Remaining
Contractual
Life (Years) |
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Aggregate
Intrinsic
Value as of
December 31,
2013 |
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Outstanding at
December 31, 2010
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222,446 |
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$ |
33.20 |
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Granted
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— |
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$ |
— |
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Exercised
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(57,027 |
) |
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$ |
27.94 |
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Canceled
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(20,350 |
) |
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$ |
31.71 |
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Outstanding at
December 31, 2011
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145,069 |
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$ |
38.08 |
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Granted
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— |
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$ |
— |
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Exercised
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(23,189 |
) |
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$ |
31.35 |
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Canceled
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(1,242 |
) |
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$ |
20.00 |
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Outstanding at
December 31, 2012
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120,638 |
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$ |
40.37 |
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Granted
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— |
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$ |
— |
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Exercised
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(93,484 |
) |
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$ |
49.83 |
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Canceled
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(6,010 |
) |
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$ |
36.31 |
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Outstanding at
December 31, 2013
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21,144 |
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$ |
40.09 |
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1.0 |
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$ |
833,948 |
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Vested at December 31,
2013
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21,144 |
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$ |
40.09 |
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1.0 |
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$ |
833,948 |
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Exercisable at
December 31, 2013
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21,144 |
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$ |
40.09 |
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1.0 |
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$ |
833,948 |
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| SAR Activity |
SAR activity
under the Plan is as follows:
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SARs |
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Weighted-
Average
Grant
Price
Per Share |
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Weighted-
Average
Remaining
Contractual
Life (Years) |
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Aggregate
Intrinsic
Value as of
December 31,
2013 |
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Outstanding at
December 31, 2010
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1,246,495 |
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$ |
13.70 |
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Granted
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96,765 |
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$ |
25.76 |
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Exercised
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(180,555 |
) |
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$ |
28.34 |
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Canceled
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— |
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$ |
— |
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Outstanding at
December 31, 2011
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1,162,705 |
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$ |
13.17 |
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Granted
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100,914 |
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$ |
25.75 |
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Exercised
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(567,953 |
) |
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$ |
13.08 |
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Canceled
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(8,476 |
) |
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$ |
24.15 |
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Outstanding at
December 31, 2012
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687,190 |
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$ |
18.56 |
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Granted
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60,588 |
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$ |
43.89 |
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Exercised
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(374,667 |
) |
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$ |
15.39 |
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Canceled
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(3,514 |
) |
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$ |
26.20 |
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Outstanding at
December 31, 2013
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369,597 |
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$ |
25.85 |
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6.9 |
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$ |
2,547,706 |
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Vested at December 31,
2013
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230,604 |
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$ |
21.37 |
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6.0 |
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$ |
1,386,104 |
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Exercisable at
December 31, 2013
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230,604 |
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$ |
21.37 |
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6.0 |
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$ |
1,386,104 |
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| Restricted Stock Activity |
Restricted
stock activity under the Plan is as follows:
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Restricted
Stock |
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Weighted-Average
Grant Price
Per Share |
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Nonvested at
December 31, 2010
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244,436 |
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$ |
13.65 |
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Granted
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67,945 |
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$ |
25.86 |
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Vested
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(151,706 |
) |
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$ |
27.06 |
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Forfeited
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(500 |
) |
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$ |
17.41 |
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Nonvested at
December 31, 2011
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160,175 |
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$ |
22.99 |
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Granted
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156,927 |
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$ |
27.18 |
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Vested
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(94,705 |
) |
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$ |
26.88 |
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Forfeited
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(7,712 |
) |
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$ |
25.47 |
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Nonvested at
December 31, 2012
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214,685 |
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$ |
24.16 |
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Granted
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47,015 |
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$ |
44.42 |
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Vested
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(69,797 |
) |
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$ |
44.55 |
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Forfeited
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(416 |
) |
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$ |
32.32 |
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Nonvested at
December 31, 2013
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191,487 |
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$ |
27.56 |
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