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.
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Stock-Based
Compensation
for the Three
months ended |
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Stock-Based
Compensation
for the Six
months ended |
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Unamortized
Stock-Based
Compensation |
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|
Remaining
Weighted
Average
Period (years) |
|
June 30, 2016
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Incentive Stock Options
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$ |
92 |
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$ |
181 |
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$ |
627 |
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|
1.5 |
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Restricted Stock
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|
368 |
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|
694 |
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|
3,119 |
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|
2.0 |
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Performance Based Restricted Stock
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|
107 |
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|
140 |
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|
1,079 |
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|
2.8 |
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Performance Based Options
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|
45 |
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53 |
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|
226 |
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1.5 |
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Total
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$ |
612 |
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$ |
1,068 |
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$ |
5,051 |
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June 30, 2015
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Incentive Stock Options
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$ |
116 |
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$ |
231 |
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$ |
1,204 |
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|
2.5 |
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Restricted Stock
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|
790 |
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|
1,962 |
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|
3,521 |
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|
1.5 |
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Performance Based Restricted Stock
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|
107 |
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|
205 |
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|
811 |
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2.0 |
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Performance Based Options
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45 |
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87 |
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454 |
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2.5 |
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Total
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$ |
1,058 |
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$ |
2,485 |
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$ |
5,990 |
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Summary of Option Activity |
Option activity within each plan is as follows:
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Incentive
Stock Option
Plans |
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Weighted Average
Price Per Share |
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Exercisable
Weighted
Average
Price
Per Share |
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Balance outstanding, December 31, 2015
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626,845 |
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$ |
9.25 |
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$ |
7.73 |
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Options exercised
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(25,500 |
) |
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7.50 |
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Options forfeited
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(9,813 |
) |
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11.49 |
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Balance outstanding, March 31, 2016
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591,532 |
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$ |
9.29 |
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$ |
7.84 |
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Options exercised
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(12,900 |
) |
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7.50 |
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Options forfeited
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(5,000 |
) |
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|
11.49 |
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Balance outstanding, June 30, 2016
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573,632 |
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$ |
9.31 |
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$ |
7.85 |
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Summary of Stock Options Summarized by Exercise Price |
Information relating to stock options at June 30, 2016
summarized by exercise price is as follows:
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Outstanding Weighted Average |
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Exercisable Weighted
Average |
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Exercise Price Per Share
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Shares |
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Remaining
Life
(Months) |
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|
Exercise
Price |
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Shares |
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|
Exercise
Price |
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Incentive Stock Option Plan:
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$7.50
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318,850 |
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53 |
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$ |
7.50 |
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318,850 |
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$ |
7.50 |
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$11.32—$14.49
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254,782 |
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|
98 |
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$ |
11.57 |
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25,507 |
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$ |
12.28 |
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573,632 |
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$ |
9.31 |
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344,357 |
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$ |
7.85 |
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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:
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Number
of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life
(Months) |
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|
Intrinsic
Value
(thousands) |
|
As of June 30, 2016:
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Incentive Stock Option Plans:
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Outstanding
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573,632 |
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$ |
9.31 |
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|
73 |
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$ |
3,329 |
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Expected to Vest
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|
565,767 |
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$ |
9.28 |
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73 |
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$ |
3,300 |
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Exercisable
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|
344,357 |
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$ |
7.85 |
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|
54 |
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$ |
2,499 |
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Performance Based Options |
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Summary of Option Activity |
Performance based option activity is as follows:
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Incentive
Stock Option
Plans |
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Weighted Average
Price Per Share |
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Exercisable
Weighted
Average
Price
Per Share |
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Balance outstanding, December 31, 2015
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98,410 |
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$ |
11.49 |
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$ |
— |
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Options forfeited
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(8,946 |
) |
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|
11.49 |
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— |
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Balance outstanding, March 31, 2016
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89,464 |
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$ |
11.49 |
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$ |
— |
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Balance outstanding, June 30, 2016
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89,464 |
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$ |
11.49 |
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$ |
— |
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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:
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Outstanding Weighted Average |
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Exercisable Weighted
Average |
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Exercise Price Per Share
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Shares |
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Remaining
Life
(Months) |
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Exercise
Price |
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|
Shares |
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|
Exercise
Price |
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Performance Incentive Stock Option Plan:
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$11.49
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89,464 |
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18 |
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$ |
11.49 |
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— |
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$ |
— |
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89,464 |
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$ |
11.49 |
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— |
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$ |
— |
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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:
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Number
of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life
(Months) |
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|
Intrinsic
Value
(thousands) |
|
As of June 30, 2016:
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Incentive Stock Option Plans:
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Outstanding
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|
89,464 |
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$ |
11.49 |
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18 |
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$ |
324 |
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Expected to Vest
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|
81,546 |
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$ |
11.49 |
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|
18 |
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$ |
295 |
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Exercisable
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— |
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$ |
— |
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— |
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$ |
— |
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Restricted Stock |
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Summary of Non-Vested Shares |
Restricted Shares—A summary of non-vested
shares for the six months ended June 30, 2016 and 2015 is
presented below:
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Six Months Ended
June 30, 2016 |
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|
Six Months Ended
June 30, 2015 |
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Number
of Shares |
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Weighted
Average
Grant
Date Fair
Value |
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Number
of Shares |
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Weighted
Average
Grant
Date Fair
Value |
|
Nonvested shares at January 1st
|
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362,841 |
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$ |
20.43 |
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|
560,842 |
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$ |
21.44 |
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Granted
|
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|
— |
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|
— |
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|
30,000 |
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|
11.42 |
|
Vested
|
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(127,274 |
) |
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|
31.29 |
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(192,266 |
) |
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|
20.47 |
|
Forfeited
|
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|
(16,008 |
) |
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|
23.67 |
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|
(422 |
) |
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|
14.92 |
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Nonvested shares at March 31st
|
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|
219,559 |
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$ |
14.59 |
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|
398,154 |
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$ |
21.17 |
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Granted
|
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|
140,541 |
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$ |
15.08 |
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|
21,005 |
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$ |
14.28 |
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Vested
|
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(22,639 |
) |
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|
15.63 |
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(28,505 |
) |
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|
13.53 |
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Forfeited
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(6,457 |
) |
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|
14.98 |
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(1,201 |
) |
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|
14.92 |
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Nonvested shares at June 30th
|
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|
331,004 |
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$ |
14.72 |
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|
389,453 |
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$ |
21.37 |
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Performance Based Restricted Stock |
|
Summary of Non-Vested Shares |
Performance Based Restricted Shares—A summary
of non-vested performance based shares for the six months ended
June 30, 2016 and 2015 is presented below:
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|
Six Months Ended
June 30, 2016 |
|
|
Six Months Ended
June 30, 2015 |
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Number
of
Shares |
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Weighted
Average
Grant
Date Fair
Value |
|
|
Number
of Shares |
|
|
Weighted
Average
Grant
Date Fair
Value |
|
Nonvested shares at January 1st
|
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|
104,403 |
|
|
$ |
17.05 |
|
|
|
103,907 |
|
|
$ |
17.77 |
|
Granted
|
|
|
— |
|
|
|
— |
|
|
|
7,500 |
|
|
|
10.96 |
|
Forfeited
|
|
|
(9,395 |
) |
|
|
17.65 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Nonvested shares at March 31st
|
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|
95,008 |
|
|
$ |
16.99 |
|
|
|
111,407 |
|
|
$ |
17.31 |
|
Granted
|
|
|
52,170 |
|
|
|
14.39 |
|
|
|
— |
|
|
|
— |
|
Forfeited
|
|
|
(19,612 |
) |
|
|
28.25 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Nonvested shares at June 30th
|
|
|
127,566 |
|
|
$ |
14.20 |
|
|
|
111,407 |
|
|
$ |
17.31 |
|
|
|
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|
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|
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