Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

The following table summarizes the Company’s stock-based compensation expense for the years ended December 31, 2014, 2013 and 2012 (in thousands):


	Year Ended December 31,
	2014		2013		2012
Time-based restricted stock	$	2,974	$	2,461	$	2,035
Performance-based restricted stock		727		—		—
Stock appreciation rights		1,035		1,251		1,369
Employee stock purchase plan		71		99		65

Total stock-based compensation	$	4,807	$	3,811	$	3,469

For SARs issued in the years ended December 31, 2014, 2013 and 2012, respectively, the assumptions shown in the following table were used:


	Year Ended December 31,
	2014			2013			2012
Dividend yield		0	%		0	%		0	%
Average risk-free interest rate		1.7	%		0.7	%		0.8	%
Expected term (years)		5			5			5
Expected volatility		52.6	%		63.7	%		65.9	%

SAR activity under the Plan and all predecessor stock incentive plans is as follows:


	SARs			Weighted- Average Grant Price Per Share		Weighted- Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value as of December 31, 2014
Outstanding at December 31, 2011		2,325,410		$	6.59
Granted		201,828		$	12.88
Exercised		(1,135,906	)	$	6.54
Canceled		(16,952	)	$	12.08

Outstanding at December 31, 2012		1,374,380		$	9.28
Granted		121,176		$	21.95
Exercised		(749,334	)	$	7.70
Canceled		(7,028	)	$	13.10

Outstanding at December 31, 2013		739,194		$	12.93
Granted		3,866		$	37.88
Exercised		(218,826	)	$	10.96
Canceled		(8,404	)	$	4.74

Outstanding at December 31, 2014		515,830		$	13.98		6.5	$	14,754,320
Vested at December 31, 2014		383,488		$	12.55		6.1	$	11,514,749
Exercisable at December 31, 2014		383,488		$	12.55		6.1	$	11,514,749

Stock option activity under the Plan and all predecessor stock incentive plans is as follows:


	Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value as of December 31, 2014
Outstanding at December 31, 2011		290,138		$	19.04
Granted		—		$	—
Exercised		(46,378	)	$	15.68
Canceled		(2,484	)	$	10.00

Outstanding at December 31, 2012		241,276		$	20.19
Granted		—		$	—
Exercised		(186,968	)	$	24.92
Canceled		(12,020	)	$	18.16

Outstanding at December 31, 2013		42,288		$	20.05
Granted		—		$	—
Exercised		(27,942	)	$	35.73
Canceled		(1,188	)	$	17.92

Outstanding at December 31, 2014		13,158		$	23.36		0.2	$	252,963
Vested at December 31, 2014		13,158		$	23.36		0.2	$	252,963
Exercisable at December 31, 2014		13,158		$	23.36		0.2	$	252,963

Time-based restricted stock activity under the Plan and all predecessor stock incentive plans is as follows:


	Time-based Restricted Stock			Weighted-Average Grant Price Per Share
Nonvested at December 31, 2011		320,350		$	11.50
Granted		313,854		$	13.59
Vested		(189,410	)	$	13.44
Forfeited		(15,424	)	$	12.74

Nonvested at December 31, 2012		429,370		$	12.08
Granted		94,030		$	22.21
Vested		(139,594	)	$	22.28
Forfeited		(832	)	$	16.16

Nonvested at December 31, 2013		382,974		$	13.78
Granted		66,511		$	32.70
Vested		(116,641	)	$	33.73
Forfeited		(3,282	)	$	16.61

Nonvested at December 31, 2014		329,562		$	18.89

Performance-based restricted stock activity under the Plan is as follows:


	Performance-based Restricted Stock		Weighted-Average Grant Price Per Share
Nonvested at December 31, 2013		—	$	—
Granted		42,676	$	33.72
Vested		—	$	—
Forfeited		—	$	—

Nonvested at December 31, 2014		42,676	$	33.72