XML 59 R46.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share-Based Compensation and Employee Ownership Plans (Tables)
12 Months Ended
Dec. 31, 2015
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 years ended December 31, 2015 and 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

 
2.4

 
$
41

Options granted

 



 

Options exercised
(33,334
)
 
3.50

 

 

Options expired
(50,000
)
 
16.27

 

 

Balance outstanding at December 31, 2014
216,672

 
$
5.65

 
1.60

 
$
87

Options granted

 

 

 

Options exercised
(100,002
)
 
3.96

 

 

Options expired
(100,003
)
 
7.49

 

 

Balance outstanding at December 31, 2015
16,667

 
$
4.89

 
1.10

 
$

Options exercisable at December 31, 2014
216,672

 
$
5.65

 
1.60

 
$

Options exercisable at December 31, 2015
16,667

 
$
4.89

 
1.09

 
$

(1)
Based on the Company's closing stock price of $3.83 on December 31, 2015 and $4.80 on December 31, 2014.
Schedule of Share-based Compensation, Stock Appreciation Rights, Activity
As of December 31, 2015, the Company's stock options were fully expensed.
The following table summarizes the Company's SAR's for the years ended December 31, 2015 and 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 December 31, 2014
400,000

 
2.90

 
3.21

 
$
913

SAR's granted

 

 

 

SAR's acquired

 

 

 

SAR's expired

 

 

 

Balance outstanding at December 31, 2015
400,000

 
$
2.90

 
2.21

 
$
558

SAR's exercisable at December 31, 2015

 
$

 

 
$


(1)
Based on the Company's closing stock price of $3.83 on December 31, 2015 and $4.80 on December 31, 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 year ended December 31, 2015:
 
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 (1)
9,674,496

 
3.89

Vested
(4,071,120
)
 
3.27

Canceled

 

Forfeited
(1,500,338
)
 
3.07

Balance outstanding at December 31, 2014
17,654,582

 
$
3.70

Granted
9,043,604

 
4.49

Vested
(4,188,289
)
 
3.08

Canceled

 

Forfeited
(1,029,533
)
 
3.42

Balance outstanding at December 31, 2015 (1)
21,480,364

 
$
4.17


(1) Performance linked restricted stock units of 1,925,750 were awarded to employees of the Company in December 2013 and January 2014. Of the awards granted, 326,250 have been forfeited through December 31, 2015. The remaining awards, included in the outstanding balance as of December 31, 2015, 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.