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Share-based Compensation (Tables)
9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation Expense

The components of share-based compensation expense were as follows:

 

     Three months
ended
     Nine months
ended
 
     September 30,      September 30,  
     2015      2014      2015      2014  
     (in thousands)  

Stock option awards

   $ 327       $ 294       $ 752       $ 687   

Restricted stock units

     152         145         336         295   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total share-based compensation

   $ 479       $ 439       $ 1,088       $ 982   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted Average Fair Values of Employee Stock Options for Option Grants Issued Valuation Assumptions Using Black-Scholes Option Model

We have computed the weighted average fair values of employee stock options for option grants issued during the nine months ended September 30, 2015 and 2014 using the Black-Scholes option model with the following assumptions:

 

     2015     2014  

Dividend yield

     1.4     1.8

Volatility

     28.6     45.2

Risk-free interest rate

     1.8     2.0

Weighted average expected option term (in years)

     5.6        5.5   

Weighted average fair value per share of options granted

   $ 2.80      $ 2.81