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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions Used in Black-Scholes Calculations

 

The assumptions used in calculating the fair values of options granted during the years ended December 31, 2015 and 2014 were as follows:

 

 

 

2015

 

 

2014

 

Expected volatility

 

 

86.3%

 

 

87.0% - 87.2%

 

Risk-free interest rates

 

 

1.6%

 

 

2.1% - 2.3%

 

Expected life

 

7 years

 

 

7 years

 

Dividend yields

 

 

1.6%

 

 

1.1% - 1.5%

 

Weighted-average grant date fair value per share

 

$

31.45

 

 

$

31.87

 

 

Summary of Stock Award Activity and Related Information

The following table summarizes stock award activity and related information for all of Nexstar’s Equity Plans for the year ended December 31, 2016:

 

 

 

 

 

 

Outstanding Options

 

 

Non-Vested Options

 

 

Restricted Stock Units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Average

 

Aggregate

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

 

Shares

 

 

 

 

 

 

Average

 

 

Remaining

 

Intrinsic

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Available

 

 

 

 

 

 

Exercise

 

 

Contractual

 

Value(1)

 

 

 

 

 

 

Grant-Date

 

 

Unvested

 

 

Grant-Date

 

 

for Grant

 

 

Shares

 

 

Price

 

 

Term (Years)

 

(thousands)

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Balances as of

  December 31, 2015

 

2,525,000

 

 

 

2,443,591

 

 

$

21.54

 

 

6.31

 

 

90,807

 

 

 

973,125

 

 

$

25.53

 

 

 

225,375

 

 

$

45.69

 

Restricted stock units

  awarded

 

(33,750

)

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

33,750

 

 

$

51.87

 

Exercised

 

-

 

 

 

(60,216

)

 

$

21.34

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Vested

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

(474,375

)

 

$

18.94

 

 

 

(57,625

)

 

$

45.67

 

Forfeited/cancelled

 

20,375

 

 

 

(6,875

)

 

$

16.12

 

 

 

 

 

 

 

 

 

-

 

 

$

-

 

 

 

(13,500

)

 

$

52.46

 

Balances as of

  December 31, 2016

 

2,511,625

 

 

 

2,376,500

 

 

$

21.56

 

 

5.38

 

$

99,197

 

 

 

498,750

 

 

$

31.79

 

 

 

188,000

 

 

$

46.33

 

Exercisable as of

  December 31, 2016

 

 

 

 

 

1,877,750

 

 

$

14.98

 

 

4.85

 

$

90,735

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fully vested and

  expected to vest  as of

  December 31, 2016

 

 

 

 

 

2,369,500

 

 

$

21.49

 

 

5.37

 

$

99,079

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Aggregate intrinsic value represents the difference between the closing market price of Nexstar’s common stock on the last day of the fiscal period, which was $63.30 on December 31, 2016, and the stock option exercise prices multiplied by the number of options outstanding.