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Options and Awards (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
The aggregate intrinsic value of options outstanding, vested, expected to vest and exercised as of September 30, 2019 and December 31, 2018 is as follows:
Options
 
September 30, 2019
 
December 31, 2018
Outstanding
 
$
100,008

 
$
89,806

Vested
 
77,801

 
64,222

Expected to vest
 
19,521

 
22,963

Exercisable
 
27,851

 
27,646


Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The Company used the following assumptions for stock options granted during the three months ended September 30, 2019 and 2018:
Grant Year
 
Options Granted
 
Weighted Average Risk-Free Rate
 
Expected Life
 
Weighted Average Volatility
 
Weighted Average Dividend Yield
2019
 
154
 
1.5%
 
6.2 years
 
34.0%
 
0.4%
2018
 
101
 
2.8%
 
6.3 years
 
32.0%
 
0.5%


The Company used the following assumptions for stock options granted during the nine months ended September 30, 2019 and 2018:
Grant Year
 
Options Granted
 
Weighted Average Risk-Free Rate
 
Expected Life
 
Weighted Average Volatility
 
Weighted Average Dividend Yield
2019
 
553

 
2.0%
 
6.2 years
 
33.9%
 
0.4%
2018
 
496

 
2.7%
 
6.2 years
 
32.0%
 
0.5%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
For the nine months ended September 30, 2019 and 2018, the following represents the exercise price and fair value displayed at grant date for stock option grants:
Grant Year
 
Granted
 
Weighted Average Exercise Price
 
Weighted Average Fair Value of Options
2019
 
553

 
$
53.05

 
$
18.89

2018
 
496

 
$
33.61

 
$
11.64


Schedule of Common Stock Outstanding Roll Forward
The following table represents the employee stock option activity during the nine months ended September 30, 2019:
 
Number of
Options
Outstanding
 
Weighted
Average
Exercise Price
 
Number of
Options Vested
 
Weighted
Average
Exercise Price
of Options
Vested
January 1, 2019
4,188

 
$
17.35

 
2,431

 
$
12.37

Granted
553

 
53.05

 
 
 
 
Forfeited
(46
)
 
31.26

 
 
 
 
Exercised
(687
)
 
10.74

 
 
 
 
September 30, 2019
4,008

 
$
23.24

 
2,364

 
$
14.52


Share-based Payment Arrangement, Option, Exercise Price Range
The following summary information reflects stock options outstanding, vested and related details as of September 30, 2019:
 
 
Stock Options Outstanding
 
Stock Options Vested
 
 
 
 
 
 
 
Number Outstanding
 
Black-Scholes Fair Value
 
Remaining Contractual Life (Years)
 
Vested and Exercisable
Year of Grant
 
Exercise Price
 
 
 
 
2009
 
$4.06
-
$4.56
 
33

 
$
67

 
0
 
33

2010
 
4.77
-
4.96
 
38

 
93

 
1
 
38

2011
 
5.90
-
7.99
 
73

 
249

 
2
 
73

2012
 
6.56
-
7.96
 
198

 
729

 
3
 
198

2013
 
7.98
-
11.49
 
322

 
1,552

 
4
 
322

2014
 
10.55
-
18.94
 
1,000

 
5,687

 
5
 
992

2015
 
21.47
-
25.24
 
422

 
3,838

 
6
 
302

2016
 
18.79
-
19.89
 
368

 
2,563

 
7
 
189

2017
 
18.64
-
22.90
 
412

 
2,876

 
8
 
130

2018
 
26.53
-
38.59
 
595

 
7,194

 
9
 
87

2019
 
$51.43
-
$53.99
 
547

 
10,332


10


Total
 
 
 
 
 
4,008

 
$
35,180

 
 

2,364


Schedule of Nonvested Restricted Stock Units Activity
A summary of the status of the Company's non-vested restricted stock awards as of September 30, 2019 and changes during the nine months ended September 30, 2019 is presented below:
 
Non-Vested Restricted Awards
 
Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019
573

 
$
29.31

Granted
252

 
52.13

Vested
(210
)
 
36.74

Forfeited
(11
)
 
34.91

Nonvested at September 30, 2019
604

 
$
36.14


Share-based Payment Arrangement, Expensed and Capitalized, Amount
Share-based compensation expense recognized for the Company's equity incentive plans for the three and nine months ended September 30, 2019 and 2018 was as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Share-based compensation expense related to stock options
$
1,291

 
$
1,213

 
$
4,113

 
$
3,721

Share-based compensation expense related to restricted stock awards
1,347

 
968

 
3,544

 
2,220

Share-based compensation expense related to stock options and restricted stock awards to non-employee directors
323

 
281

 
982

 
668

Total
$
2,961

 
$
2,462

 
$
8,639


$
6,609