Stock-Based Compensation

6 Months Ended

Jun. 30, 2015

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

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

In January 2015, the Company granted awards of 113,289 shares of restricted stock and options to purchase 607,995 shares of the Company’s common stock at an exercise price of $22.01 to certain of its employees. The fair value of these awards at the date of grant was approximately $8.4 million. In August 2015, the Company granted an award of 182,250 shares of restricted stock to certain of its employees. The fair value of these awards on the date of grant was approximately $4.1 million. All of these awards vest over a term of three years.