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Equity-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Employee Stock Performance Activity

The activity related to the Company’s time-vesting and performance-vesting share awards during the six months ended June 30, 2016 is as follows:

 

 

 

 

 

 

 

 

 

 

 

Performance-Vesting Restricted shares

 

 

 

Time-Vesting

Restricted shares

 

 

Bonus Performance

Restricted shares

 

 

Long-Term

Incentive

Performance

Restricted shares

 

 

2.25x Performance

Restricted shares

 

 

2.75x Performance

Restricted shares

 

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

Outstanding at

   December 31, 2015

 

 

883,270

 

 

$

18.66

 

 

 

415,995

 

 

$

19.00

 

 

 

62,365

 

 

$

18.88

 

 

 

1,370,821

 

 

$

20.35

 

 

 

1,370,821

 

 

$

10.93

 

Granted

 

 

527,007

 

 

$

17.29

 

 

 

466,677

 

 

$

18.17

 

 

 

187,578

 

 

$

18.74

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(162,194

)

 

$

18.51

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,370,821

)

 

$

20.07

 

 

 

 

 

 

 

Forfeited

 

 

(42,983

)

 

$

17.77

 

 

 

(435,197

)

 

$

18.96

 

 

 

(30,374

)

 

$

19.39

 

 

 

 

 

 

 

 

 

(29,200

)

 

$

15.40

 

Outstanding at

June 30, 2016

 

 

1,205,100

 

 

$

18.10

 

 

 

447,475

 

 

$

18.17

 

 

 

219,569

 

 

$

18.69

 

 

 

 

 

$

 

 

 

1,341,621

 

 

$

8.90

 

 

Schedule of Activity Related to Stock Option Awards

The activity related to the Company’s stock option awards during the six months ended June 30, 2016 is as follows:

 

 

 

Options

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Life (in years)

 

 

Aggregate

Intrinsic Value

 

Outstanding at December 31, 2015

 

 

2,274,385

 

 

$

19.21

 

 

 

 

 

 

 

 

 

Granted

 

 

1,366,973

 

 

$

18.11

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(147,132

)

 

$

18.73

 

 

 

 

 

 

 

 

 

Expired

 

 

(6,552

)

 

$

18.96

 

 

 

 

 

 

 

 

 

Exercised

 

 

(4,331

)

 

$

18.96

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2016

 

 

3,483,343

 

 

$

18.80

 

 

 

9.14

 

 

$

 

Exercisable at June 30, 2016

 

 

446,972

 

 

$

19.60

 

 

 

8.73

 

 

$

 

 

Schedule of Key Weighted-average Assumptions Utilized in Black-Scholes Option Pricing Model for Stock Options Granted

The weighted average grant date fair value of stock options granted during the six months ended June 30, 2016 was $3.74.  Key weighted-average assumptions utilized in the Black-Scholes Option Pricing Model for stock options granted during the six months ended June 30, 2016 were:

 

Risk- free interest rate

 

 

1.50

%

Expected volatility (a)

 

 

35.11

%

Expected dividend yield

 

 

4.64

%

Expected life (in years) (b)

 

 

6.25