CAPITAL STOCK

3 Months Ended

Mar. 31, 2015

Capital Stock [Abstract]

Capital Stock

4. CAPITAL STOCK

Common Stock

The Company issued 22 and 8 shares of common stock upon the exercise of stock options in the three months ended March 31, 2015 and 2014, respectively, and received proceeds of $268 and $91, respectively. During the three months ended March 31, 2015 and 2014, employees surrendered to the Company 120 and 41 shares of common stock, respectively, valued at $2,162 and $616, respectively, in satisfaction of minimum tax withholding obligations associated with the vesting of equity awards. These shares are included in treasury stock. During both the three months ended March 31, 2015 and 2014, the Company paid a dividend of $0.175 per share to all stockholders of record.

Preferred Stock

The Company has authorized 5,000 shares of preferred stock issuable in series upon resolution of the Board of Directors. Unless otherwise required by law, the Board of Directors can, without stockholder approval, issue preferred stock in the future with voting and conversion rights that could adversely affect the voting power of the common stock. The issuance of preferred stock may have the effect of delaying, averting or preventing a change in control of the Company.