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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Restricted Stock Activity

A summary of restricted stock activity for the year ended December 31, 2016 is presented below:

  

Number of
Restricted
Shares

 

  

 

Weighted
Average
Grant Price

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2016

 

314,048

 

 

 

$49.57

 

Granted

 

237,187

 

 

 

$5.46

 

Vested

 

(191,004

)

 

 

$58.80

 

Forfeitures

 

(5,245

)

 

 

$32.07

 

Outstanding at December 31, 2016

 

354,986

 

 

 

$15.60

 

 

Summary of Significant Assumptions Use to Value PSUs

Significant assumptions use to value PSUs in 2014, 2015 and 2016 included:

 

 

For the Years Ended December 31,

 

 

 

2014

 

 

2015

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk free interest rate

 

 

0.6%

 

 

 

1.1%

 

 

 

0.9%

 

Range of implied volatility:

 

 

 

 

 

 

 

 

 

 

 

 

Minimum

 

 

38%

 

 

 

37%

 

 

 

47%

 

Maximum

 

 

70%

 

 

 

65%

 

 

 

92%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of PSU Activity

A summary of PSU activity for the year ended December 31, 2016 is presented below:

 

 

Number of
PSUs

 

 

 

 

  

Weighted
Average
Grant Price

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2016

 

133,931

 

 

 

$45.27

 

Granted

 

60,015

 

 

 

$7.00

 

Earned

 

(7,540

)

 

 

$21.90

 

Unearned or forfeited

 

(51,756

)

 

 

$64.40

 

Outstanding at December 31, 2016

 

134,650

 

 

 

$22.17

 

 

Stock Option Activity under Company's 2009 Long-term Incentive Plan

The following table summarizes information related to stock option activity under the Company's 2009 Long-term Incentive Plan for the year ended December 31, 2016:

 

Number of
Options

 

  

 

Weighted
Average
Exercise

Price

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2016

 

11,730

 

 

 

$166.10

 

Expired

 

(11,730

)

 

 

$166.10

 

Outstanding at December 31, 2016

 

 

 

 

$—