Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

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

Schedule of grant date fair value and related assumptions of Options granted

The assumptions used in these calculations are noted in the following table. Expected volatilities are based on implied volatilities from comparable companies. The expected time to liquidity is based on management’s estimate. The risk-free rate is based on the U.S. Treasury yield curve for a term equivalent to the estimated time to liquidity. There were no options granted in the three months ended September 30, 2016.

	Nine Months Ended   September 30, 2016
Option valuation assumptions:
Expected dividend yield	—%
Expected volatility	55%
Risk-free interest rate	1.67%
Expected term (in years)	6.3

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the changes in stock options outstanding during the nine months ended September 30, 2016, is as follows:

	Number of Options	Weighted Average Exercise Price	Weighted Average Remaining Contract Term (years)	Aggregate Intrinsic Value
Options outstanding as of December 31, 2015	765,375	$12.46
Granted	227,600	$16.98
Canceled	(117,875)	$15.25
Options outstanding as of September 30, 2016	875,100	$13.26	8.4	$	3,457,748