Summary of Stock Option and Restricted Stock Award Activity |
The following table summarizes the stock option activity for the 2014 IN is as follows:
| | | | | | | | | | | | | | | | | | | Number of Shares Available for Grant | | Number of Shares Underlying Outstanding Options and Awards | | Weighted Average Exercise Price Per Share | | Weighted Average Remaining Contractual Life (in Years) | | Aggregate Intrinsic Value | | | | | | | | | | (In thousands) | Shares reserved | 325,000 |
| | — |
| | $ | — |
| | — |
| | $ | — |
| Options granted | (140,125 | ) | | 140,125 |
| | $ | 22.52 |
| | | | | Restricted stock awards granted | (43,375 | ) | | 43,375 |
| | $ | — |
| | | | | Outstanding as of December 31, 2014 | 141,500 |
| | 183,500 |
| | $ | 22.52 |
| | | | | Additional shares reserved | 500,000 |
| | | | | | | | | Options granted | (206,250 | ) | | 206,250 |
| | $ | 36.32 |
| | | | | Restricted stock awards granted | (34,375 | ) | | 34,375 |
| | — |
| | | | | Option forfeitures | 29,531 |
| | (29,531 | ) | | $ | 22.97 |
| | | | | Restricted stock award forfeitures | 9,843 |
| | (9,843 | ) | | $ | — |
| | | | | Awards released | — |
| | (30,532 | ) | | $ | — |
| | | | | Traded for taxes | 9,640 |
| | — |
| | $ | — |
| | | | | Outstanding as of December 31, 2015 | 449,889 |
| | 354,219 |
| | $ | 31.46 |
| | | | | Options granted | (110,000 | ) | | 110,000 |
| | $ | 18.37 |
| | | | | Restricted stock awards granted | (15,000 | ) | | 15,000 |
| | — |
| | | | | Option forfeitures | 88,594 |
| | (88,594 | ) | | $ | 22.97 |
| | | | | Restricted stock award forfeitures | — |
| | — |
| | $ | — |
| | | | | Restricted stock awards released | — |
| | (9,594 | ) | | $ | — |
| | | | | Traded for taxes | 3,604 |
| | — |
| | $ | — |
| | | | | Outstanding as of December 31, 2016 | 417,087 |
| | 381,031 |
| | $ | 29.43 |
| | 9.0 |
| | $ | 269 |
| Options vested and expected to vest as of December 31, 2016 | | | 332,517 |
| | $ | 29.44 |
| | 9.0 |
| | $ | 263 |
| Exercisable as of December 31, 2016 | | | 63,937 |
| | $ | 33.19 |
| | 8.7 |
| | $ | 7 |
|
The following summary of stock option and restricted stock award activity, excluding 2014 IN, for the periods presented is as follows: | | | | | | | | | | | | | | | | | | | Number of Shares Available for Grant | | Number of Shares Underlying Outstanding Options | | Weighted Average Exercise Price Per Share | | Weighted Average Remaining Contractual Life (in Years) | | Aggregate Intrinsic Value | | | | | | | | | | (In thousands) | Balance as of December 31, 2013 | 202,558 |
| | 1,213,065 |
| | $ | 7.65 |
| | — |
| | $ | — |
| Additional shares reserved | 1,000,000 |
| | — |
| | — |
| | | | | Options granted | (728,349 | ) | | 728,349 |
| | 30.21 |
| | | | | Restricted stock awards granted | (212,450 | ) | | 212,450 |
| | — |
| | | | | Options exercised | — |
| | (238,999 | ) | | 5.96 |
| | | | | Options cancelled/forfeited | 14,600 |
| | (14,600 | ) | | 26.89 |
| | | | | Restricted stock awards forfeited | 4,500 |
| | (4,500 | ) | | — |
| | | | | Shares cancelled/retired under 2002/2012 plans | (189,225 | ) | | (9,617 | ) | | — |
| | | | | Balance as of December 31, 2014 | 91,634 |
| | 1,886,148 |
| | 17.90 |
| | | | | Additional shares reserved | 950,978 |
| | — |
| | — |
| | | | | Options granted | (747,338 | ) | | 747,338 |
| | 18.94 |
| | | | | Restricted stock awards granted | (169,336 | ) | | 169,336 |
| | — |
| | | | | Options exercised | — |
| | (205,735 | ) | | 11.84 |
| | | | | Options cancelled/forfeited | 116,540 |
| | (116,540 | ) | | 21.33 |
| | | | | Restricted stock awards forfeited | 24,306 |
| | (24,306 | ) | | — |
| | | | | Restricted stock awards released | — |
| | (74,755 | ) | | — |
| | | | | Shares cancelled/retired under 2002/2012 plans | (19,276 | ) | | — |
| | — |
| | | | | Shares traded for taxes | 26,440 |
| | — |
| | — |
| | | | | Balance as of December 31, 2015 | 273,948 |
| | 2,381,486 |
| | 18.36 |
| | | | | Additional shares reserved | 1,131,538 |
| | — |
| | — |
| | | | | Options granted | (839,800 | ) | | 839,800 |
| | 16.72 |
| | | | | Restricted stock awards granted | (299,900 | ) | | 299,900 |
| | — |
| | | | | Options exercised | — |
| | (131,752 | ) | | 10.67 |
| | | | | Options cancelled/forfeited | 320,084 |
| | (320,084 | ) | | 21.77 |
| | | | | Restricted stock awards forfeited | 80,333 |
| | (80,333 | ) | | — |
| | | | | Restricted stock awards released | — |
| | (124,344 | ) | | — |
| | | | | Shares cancelled/retired under 2002/2012 plans | — |
| | (38,829 | ) | | 8.92 |
| | | | | Shares traded for taxes | 23,289 |
| | — |
| | — |
| | | | | Balance as of December 31, 2016 | 689,492 |
| | 2,825,844 |
| | $ | 17.92 |
| | 7.2 |
| | $ | 13,028 |
| Options vested and expected to vest as of December 31, 2016 | | | 2,405,626 |
| | $ | 17.90 |
| | 7.2 |
| | $ | 12,854 |
| Exercisable as of December 31, 2016 | | | 1,387,955 |
| | $ | 17.35 |
| | 6.2 |
| | $ | 8,904 |
|
|
Schedule of Stock Options and Restricted Stock Exercise Price Range |
The following table summarizes information with respect to stock options outstanding and currently exercisable as of December 31, 2016: | | | | | | | | | | Options Outstanding | | Options Exercisable | Exercise Price | Number of Options | | Weighted- Average Remaining Contractual Life (In Years) | | $0.45 - 6.60 | 63,372 |
| | 3.5 | | 63,372 |
| $8.70 | 469,601 |
| | 5.8 | | 431,542 |
| $8.85 - 14.04 | 283,704 |
| | 8.0 | | 108,612 |
| $14.29 - 16.15 | 85,197 |
| | 8.4 | | 31,476 |
| $16.23 | 312,635 |
| | 7.5 | | 162,733 |
| $16.30 - 17.05 | 78,800 |
| | 8.9 | | 22,791 |
| $17.12 | 345,133 |
| | 8.4 | | 89,021 |
| $17.17 - 20.32 | 280,100 |
| | 9.0 | | 31,080 |
| $20.42 - 31.77 | 252,345 |
| | 7.4 | | 174,429 |
| $32.22 - 39.57 | 619,759 |
| | 7.3 | | 336,836 |
| | 2,790,646 |
| | | | 1,451,892 |
|
|
Nonvested Restricted Stock Shares Activity |
The following table summarizes information with respect to restricted stock awards outstanding as of December 31, 2016: | | | | | | | | | | | | | Number of Awards Available for Grant | | Weighted-Average Grant-Date Fair Value | | Aggregate Intrinsic Value | | | | | | (In thousands) | Outstanding as of December 31, 2013 | — |
| | $ | — |
| | $ | — |
| Granted | 255,825 |
| | 29.47 |
| | — |
| Vested | — |
| | — |
| | — |
| Forfeited | (4,500 | ) | | 26.89 |
| | — |
| Outstanding as of December 31, 2014 | 251,325 |
| | $ | 29.51 |
| | $ | — |
| Granted | 203,711 |
| | 21.55 |
| | — |
| Vested | (105,287 | ) | | 27.79 |
| | — |
| Forfeited | (34,149 | ) | | 22.77 |
| | — |
| Outstanding as of December 31, 2015 | 315,600 |
| | $ | 25.67 |
| | $ | — |
| Granted | 314,900 |
| | 17.16 |
| | — |
| Vested | (133,938 | ) | | 26.41 |
| | — |
| Forfeited | (80,333 | ) | | 20.35 |
| | — |
| Outstanding as of December 31, 2016 | 416,229 |
| | $ | 20.02 |
| | $ | 8,616 |
|
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