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Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2016
Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period

The below tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three months and six months ended June 30, 2016 and 2015.

 

     Stock-Based
Compensation
for the Three
months ended
     Stock-Based
Compensation
for the Six
months ended
     Unamortized
Stock-Based
Compensation
     Remaining
Weighted
Average
Period (years)
 

June 30, 2016

           

Incentive Stock Options

   $ 92       $ 181       $ 627         1.5   

Restricted Stock

     368         694         3,119         2.0   

Performance Based Restricted Stock

     107         140         1,079         2.8   

Performance Based Options

     45         53         226         1.5   
  

 

 

    

 

 

    

 

 

    

Total

   $ 612       $ 1,068       $ 5,051      
  

 

 

    

 

 

    

 

 

    

June 30, 2015

           

Incentive Stock Options

   $ 116       $ 231       $ 1,204         2.5   

Restricted Stock

     790         1,962         3,521         1.5   

Performance Based Restricted Stock

     107         205         811         2.0   

Performance Based Options

     45         87         454         2.5   
  

 

 

    

 

 

    

 

 

    

Total

   $ 1,058       $ 2,485       $ 5,990      
  

 

 

    

 

 

    

 

 

    
Summary of Option Activity

Option activity within each plan is as follows:

 

     Incentive
Stock Option
Plans
     Weighted Average
Price Per Share
     Exercisable
Weighted
Average
Price
Per Share
 

Balance outstanding, December 31, 2015

     626,845       $ 9.25       $ 7.73   

Options exercised

     (25,500      7.50      

Options forfeited

     (9,813      11.49      
  

 

 

    

 

 

    

 

 

 

Balance outstanding, March 31, 2016

     591,532       $ 9.29       $ 7.84   

Options exercised

     (12,900      7.50      

Options forfeited

     (5,000      11.49      
  

 

 

    

 

 

    

 

 

 

Balance outstanding, June 30, 2016

     573,632       $ 9.31       $ 7.85   
  

 

 

    

 

 

    

 

 

 
Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at June 30, 2016 summarized by exercise price is as follows:

 

     Outstanding Weighted Average      Exercisable Weighted
Average
 

Exercise Price Per Share

   Shares      Remaining
Life
(Months)
     Exercise
Price
     Shares      Exercise
Price
 

Incentive Stock Option Plan:

              

$7.50

     318,850         53       $ 7.50         318,850       $ 7.50   

$11.32—$14.49

     254,782         98       $ 11.57         25,507       $ 12.28   
  

 

 

       

 

 

    

 

 

    

 

 

 
     573,632          $ 9.31         344,357       $ 7.85   
  

 

 

       

 

 

    

 

 

    

 

 

 
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of June 30, 2016 was as follows:

 

     Number
of
Shares
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life
(Months)
     Intrinsic
Value
(thousands)
 

As of June 30, 2016:

           

Incentive Stock Option Plans:

           

Outstanding

     573,632       $ 9.31         73       $ 3,329   

Expected to Vest

     565,767       $ 9.28         73       $ 3,300   

Exercisable

     344,357       $ 7.85         54       $ 2,499   
Performance Based Options  
Summary of Option Activity

Performance based option activity is as follows:

 

     Incentive
Stock Option
Plans
     Weighted Average
Price Per Share
     Exercisable
Weighted
Average
Price
Per Share
 

Balance outstanding, December 31, 2015

     98,410       $ 11.49       $ —    

Options forfeited

     (8,946      11.49         —     
  

 

 

    

 

 

    

 

 

 

Balance outstanding, March 31, 2016

     89,464       $ 11.49       $ —    
  

 

 

    

 

 

    

 

 

 

Balance outstanding, June 30, 2016

     89,464       $ 11.49       $ —    
  

 

 

    

 

 

    

 

 

 
Summary of Stock Options Summarized by Exercise Price

Information relating to outstanding stock options at June 30, 2016 summarized by exercise price is as follows:

 

     Outstanding Weighted Average      Exercisable Weighted
Average
 

Exercise Price Per Share

   Shares      Remaining
Life
(Months)
     Exercise
Price
     Shares      Exercise
Price
 

Performance Incentive Stock Option Plan:

              

$11.49

     89,464         18       $ 11.49         —        $ —    
  

 

 

       

 

 

    

 

 

    

 

 

 
     89,464          $ 11.49         —        $ —    
  

 

 

       

 

 

    

 

 

    

 

 

 
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of June 30, 2016 are as follows:

 

     Number
of
Shares
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life
(Months)
     Intrinsic
Value
(thousands)
 

As of June 30, 2016:

           

Incentive Stock Option Plans:

           

Outstanding

     89,464       $ 11.49         18       $ 324   

Expected to Vest

     81,546       $ 11.49         18       $ 295   

Exercisable

     —         $ —          —        $ —    
Restricted Stock  
Summary of Non-Vested Shares

Restricted SharesA summary of non-vested shares for the six months ended June 30, 2016 and 2015 is presented below:

 

     Six Months Ended
June 30, 2016
     Six Months Ended
June 30, 2015
 
     Number
of Shares
     Weighted
Average
Grant
Date Fair
Value
     Number
of Shares
    Weighted
Average
Grant
Date Fair
Value
 

Nonvested shares at January 1st

     362,841       $ 20.43         560,842      $ 21.44   

Granted

     —           —           30,000        11.42   

Vested

     (127,274      31.29         (192,266     20.47   

Forfeited

     (16,008      23.67         (422     14.92   
  

 

 

    

 

 

    

 

 

   

 

 

 

Nonvested shares at March 31st

     219,559       $ 14.59         398,154      $ 21.17   
  

 

 

    

 

 

    

 

 

   

 

 

 

Granted

     140,541       $ 15.08         21,005      $ 14.28   

Vested

     (22,639      15.63         (28,505     13.53   

Forfeited

     (6,457      14.98         (1,201     14.92   
  

 

 

    

 

 

    

 

 

   

 

 

 

Nonvested shares at June 30th

     331,004       $ 14.72         389,453      $ 21.37   
  

 

 

    

 

 

    

 

 

   

 

 

 
Performance Based Restricted Stock  
Summary of Non-Vested Shares

Performance Based Restricted SharesA summary of non-vested performance based shares for the six months ended June 30, 2016 and 2015 is presented below:

 

     Six Months Ended
June 30, 2016
     Six Months Ended
June 30, 2015
 
     Number
of
Shares
     Weighted
Average
Grant
Date Fair
Value
     Number
of Shares
     Weighted
Average
Grant
Date Fair
Value
 

Nonvested shares at January 1st

     104,403       $ 17.05         103,907       $ 17.77   

Granted

     —           —           7,500         10.96   

Forfeited

     (9,395      17.65         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Nonvested shares at March 31st

     95,008       $ 16.99         111,407       $ 17.31   

Granted

     52,170         14.39         —           —     

Forfeited

     (19,612      28.25         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Nonvested shares at June 30th

     127,566       $ 14.20         111,407       $ 17.31