Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2016, 2015 and 2014, respectively:



	Years Ended December 31,
	2016		2015		2014
Stock options granted:
Risk-free interest rate	1.3	%	1.8	%	1.6	%
Dividend yield	—	%	—	%	—	%
Volatility	78.8	%	74.5	%	80.4	%
Expected term (in years)	2.6		5.0		5.0

Equity Instruments, Other than Options, Valuation Assumptions

The following table indicates the weighted-average assumptions that were used related to the awards granted for the year ended December 31, 2015. No SAR's were granted during the year ended December 31, 2016.



	Year ended December 31,
	2015
SAR's granted:
Risk-free interest rate	1.8	%
Dividend yield	—	%
Volatility	74.5	%
Expected term (in years)	5.0

PSU's - Compensation expense is recognized for PSU awards on a straight-line basis over a 3-year service period based on the estimated fair value at the date of grant using a Monte Carlo simulation model. The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2015 and 2014. No PSU's were granted during the year ended December 31, 2016.



	Years Ended December 31,
	2015		2014
PSUs granted:
Risk-free interest rate	1.0	%	0.8	%
Dividend yield	—	%	—	%
Volatility	64.3	%	74.5	%
Performance period (in years)	3.0		3.0

Allocation of Compensation Expense

The Company recorded the following compensation expense related to the Stock Plans:



	Years Ended December 31,
(in thousands)	2016		2015		2014
RSA expense	$	2,021	$	2,909	$	2,612
Stock option expense	285		658		117
SAR expense	106		742		—
PSU expense	456		2,895		1,983
Total stock-based compensation expense (1)	2,868		7,204		4,712

(1) Amounts for the years ended December 31, 2016, 2015 and 2014 do not reflect an income tax benefit as a result of a valuation allowance on the Company's deferred tax assets.

Schedule of Unrecognized Compensation Cost

The amount of unrecognized compensation cost as of December 31, 2016, and the expected weighted-average period over which the cost will be recognized is as follows:



	As of December 31, 2016
(in thousands)	Unrecognized Compensation Cost		Expected Weighted-Average Period of Recognition (in years)
RSA expense	$	1,335	0.98
Stock option expense	732		0.53
PSU expense	137		0.63
Total unrecognized stock-based compensation expense	$	2,204	0.81

Summary of Restricted Stock Activity

A summary of the status and activity of non-vested RSA's is presented in the following table:



	For the Years Ended December 31.
	2016				2015				2014
(in thousands, except for share and per share amounts)	Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted-Average Grant-Date Fair Value		Shares		Weighted-Average Grant-Date Fair Value
Non-vested at beginning of year	134,708		$	8.49	209,921		$	13.59	263,989		$	9.05
Granted	363,758		$	7.46	127,943		$	14.97	112,643		$	24.74
Vested	(175,956	)	$	11.96	(165,796	)	$	17.51	(118,364	)	$	15.75
Forfeited ⁽¹⁾	(25,163	)	$	15.58	(37,360	)	$	19.30	(48,347	)	$	9.49
Non-vested at end of year	297,347		$	8.03	134,708		$	8.49	209,921		$	13.59

Summary of Option Activity

A summary of option activity under the Plans is presented below:



(in thousands, except for share and per share amounts)	Number of Options Outstanding and Exercisable		Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Contractual Term (in years)
For the year ended December 31, 2014
Options outstanding, January 1, 2014	317,576		$	5.07
Options granted	30,000		$	20.67
Options exercised	(260,126	)	$	4.30
Options expired / forfeited	(13,250	)	$	6.90
Options outstanding, December 31, 2014	74,200		$	13.76	$	670	3.0
Options vested and exercisable as of December 31, 2014	34,199		$	8.44	$	491	1.6

For the year ended December 31, 2015
Options outstanding, January 1, 2015	74,200		$	13.76
Options granted	56,250		$	13.87
Options exercised	—		$	—
Options expired / forfeited	(24,200	)	$	7.59
Options outstanding, December 31, 2015	106,250		$	15.22	$	—	3.8
Options vested and exercisable as of December 31, 2015	82,915		$	14.04	$	—	3.9

For the year ended December 31, 2016
Options outstanding, January 1, 2016	106,250		$	15.22
Options granted ⁽¹⁾	546,196		$	11.10
Options exercised	—		$	—
Options expired / forfeited	(20,000	)	$	16.90
Options outstanding, December 31, 2016	632,446		$	11.61	$	183	4.0
Options vested and exercisable as of December 31, 2016	247,780		$	13.30	$	69	3.4

(1)

Included in options granted are 243,750 awards granted that were initially granted on a contingent basis and became exercisable as a result of the automatic expiration of the same number of Stock Appreciation Rights, as a result of stockholder approval of Amendment No. 4 of the 2007 Plan. See "Stock Appreciation Rights" section below for a discussion of the provisions of the exchange and incremental expense recognized.

Schedule of Equity Instruments, Other than Options Activity

A summary of SAR activity under the Plans is presented below:



(in thousands, except for share and per share amounts)	Number of SAR's Outstanding and Exercisable		Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Contractual Term (in years)
For the year ended December 31, 2015
SAR's outstanding as of January 1, 2015	—		$	—
Granted	243,750		$	13.87
Exercised	—		$	—
Expired / forfeited	—		$	—
SAR's outstanding as of December 31, 2015	243,750		$	13.87	$	—	4.5
SAR's vested and exercisable as of December 31, 2015	43,750		$	13.87	$	—	—

For the year ended December 31, 2016
SAR's outstanding as of January 1, 2016	243,750		$	13.87
Granted	—		$	—
Exercised	—		$	—
Expired / forfeited	(243,750	)	$	13.87
SAR's outstanding as of December 31, 2016	—		$	—	$	—	—
SAR's vested and exercisable as of December 31, 2016	—		$	—	$	—	—

A summary of the status and activity of non-vested PSU's is presented in the following table:



	For the Years Ended December 31.
	2016				2015				2014
(in thousands, except for share and per share amounts)	Units		Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value
Non-vested at beginning of year	169,334		$	26.38	142,357		$	30.65	89,578		$	26.04
Granted ⁽¹⁾	—		$	—	69,218		$	20.10	57,547		$	37.45
Vested ⁽¹⁾	(119,818	)	$	26.87	(13,763	)	$	30.52	—		$	—
Forfeited / Canceled ^{(1) (2)}	—		$	—	(28,478	)	$	30.44	(4,768	)	$	26.04
Non-vested at end of year	49,516		$	25.20	169,334		$	26.38	142,357		$	30.65

(1) The number of units shown in the table above are based on target performance. The final number of shares of common stock issued may vary depending on the achievement of market conditions established within the awards, which could result in the actual number of shares issued ranging from zero to a maximum of two times the number of units shown in the above table.

(2) Included within the 2015 forfeited / canceled units are PSU's related to a former executive that were clawed back. The Company recognized $0.2 million within Other Income line item on the Consolidated Statement of Operations related to these awards.

Schedule of Performance-Based Units, Settled

The following table shows the PSUs that were settled by issuing the Company's common stock relative to a peer group performance index and broad stock index.



	Year of Grant	Net Number of Issued Shares upon Vesting	Shares Withheld to Settle Tax Withholding Obligations	TSR Multiple Range		Russell 3000 Multiple
	Year of Grant	Net Number of Issued Shares upon Vesting	Shares Withheld to Settle Tax Withholding Obligations	Low	High	Low	High
For the year ended December 31, 2016
	2013	38,706	1,572	0.63	1.00	—	—
	2014	11,487	—	0.63	0.63	—	—
	2015	13,529	—	0.50	0.50	—	—
For the year ended December 31, 2015
	2013	8,768	3,954	1.75	1.75	2.00	2.00
	2014	2,506	1,145	0.63	0.75	—	0.75