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Share-Based Compensation and Employee Ownership Plans (Tables)
 6 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes the Company's stock option activity for the six months ended June 30, 2014:
 
Shares Subject
to Option
 
Weighted Average
Exercise Price/Share
 
Weighted Average
Remaining Term
 
Aggregate Intrinsic
Value(1)
 
 
 
 
 
(in years)
 
(dollars in thousands)
Balance outstanding at December 31, 2013
300,006

 
$
7.19

 
2.40

 
$
—

Options granted
—

 
—

 
—

 
—

Options exercised
(33,334
)
 
3.50

 
—

 
—

Options expired
—

 
—

 
—

 
—

Balance outstanding at June 30, 2014
266,672

 
$
7.64

 
1.73

 
$
—

Options exercisable at June 30, 2014
266,672

 
$
7.64

 
1.73

 
$
—

(1)
Based on the Company's closing stock price of $4.22 on June 30, 2014 and $3.91 on December 31, 2013.
Schedule of Share-based Compensation, Stock Appreciation Rights, Activity
As of June 30, 2014, the unrecognized compensation expense related to the Company's grant of stock options was insignificant.
The following table summarizes the Company's SAR's for the six months ended June 30, 2014:
 
Shares Subject
to Option
 
Weighted Average
Exercise Price/Share
 
Weighted Average
Remaining Term
 
Aggregate Intrinsic
Value(1)
 
 
 
 
 
(in years)
 
(dollars in thousands)
Balance outstanding at December 31, 2013
400,000

 
$
2.90

 
4.21

 
$
608

SAR's granted
—

 
—

 
—

 
—

SAR's acquired
—

 
—

 
—

 
—

SAR's expired
—

 
—

 
—

 
—

Balance outstanding at June 30, 2014
400,000

 
$
2.90

 
3.71

 
$
784

SAR's exercisable at June 30, 2014
—

 


 


 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
Restricted shares and restricted stock units are referred to collectively as restricted stock. The following table summarizes the Company's restricted share and restricted stock unit activity for the six months ended June 30, 2014:
 
Nonvested Restricted Shares and Restricted Stock Units
 
Weighted-Average
Grant Date
Fair Value
Balance outstanding at December 31, 2013
13,551,544

 
$
3.37

Granted
7,929,931

 
3.79

Vested
(3,861,512
)
 
3.29

Canceled
—

 
—

Forfeited
(383,346
)
 
3.45

Balance outstanding at June 30, 2014 (1)
17,236,617

 
$
3.58


(1) Included in the outstanding balance are 1,925,750 performance linked restricted stock units awarded to employees of the Company in December 2013 and January 2014. The awards will vest on June 10, 2019 and will be earned only to the extent that the Company attains specified performance goals relating to its volume-weighted average share price and the aggregate net income for the years from 2014 to 2018. The actual number of RSUs ultimately earned could vary from zero, if performance goals are not met, to as much as 100% of the targeted award. Each RSU is equal to the one share of the Company’s Class A common stock. Compensation expense is recognized to the extent that it is probable that the Company will attain the performance goals.