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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activities of Stock Option Plans

The following information relates to our stock option plans:

 

 

 

December 31, 2015

 

 

 

2008 Plan

 

 

Outside

Director

Plan

 

Maximum number of securities for issuance

 

 

1,975,000

 

 

 

400,000

 

Number of awards available to be granted

 

 

797,890

 

 

 

278,456

 

Number of options outstanding (1)

 

 

802,780

 

 

 

—

 

Number of options exercisable (2)

 

 

232,925

 

 

 

—

 

 

(1)

Includes 211,025 options associated with employees in our discontinued operations.

(2)

Includes 80,240 options associated with employees in our discontinued operations.

 

 

 

 

2015

 

 

 

Shares

 

 

Weighted-Average

Exercise Price

 

Outstanding at beginning of year

 

 

955,848

 

 

$

27.09

 

Granted

 

 

135,000

 

 

$

38.73

 

Exercised

 

 

(159,348

)

 

$

11.20

 

Forfeited or expired

 

 

(88,720

)

 

$

27.29

 

Outstanding at end of year

 

 

842,780

 

 

$

31.93

 

Exercisable at end of year

 

 

252,925

 

 

$

28.13

 

 

 

 

2015

 

 

2014

 

 

2013

 

Weighted-average fair value per option granted during year

 

$

14.19

 

 

$

14.85

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intrinsic value of options exercised during the year

 

$

4,292,000

 

 

$

3,461,000

 

 

$

2,970,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fair value of options vested during the year

 

$

2,411,000

 

 

$

1,502,000

 

 

$

1,565,000

 

 
Restricted Stock Activities of Restricted Stock Plans

 

The following information relates to our restricted stock:

 

 

 

2015

 

 

 

Shares

 

Unvested restricted stock outstanding at beginning of year

 

 

—

 

Granted

 

 

584,959

 

Vested

 

 

(56,406

)

Cancelled or forfeited

 

 

—

 

Unvested restricted stock outstanding at end of year

 

 

528,553

 

 
Valuation Assumptions of Granted Stock Options

 

The following table summarizes information about these granted stock options:

 

 

 

2015

 

 

2014

 

 

2013

 

Weighted-average risk-free interest rate

 

 

1.73

%

 

 

1.83

%

 

N/A

 

Dividend yield

 

 

—

 

 

 

—

 

 

N/A

 

Weighted-average expected volatility

 

 

38.32

%

 

 

45.18

%

 

N/A

 

Total weighted-average expected forfeiture rate

 

 

0.00

%

 

 

7.88

%

 

N/A

 

Weighted-average expected life (years)

 

 

5.11

 

 

 

5.90

 

 

N/A

 

Total weighted-average remaining vesting period in

   years (1)

 

 

6.53

 

 

 

5.83

 

 

 

2.45

 

Total fair value of options granted for continuing

   operations (2)

 

$

1,853,000

 

 

$

5,518,000

 

 

N/A

 

Stock-based compensation expense - Cost of sales for

   continuing operations (1) (3)

 

$

303,000

 

 

$

139,000

 

 

$

111,000

 

Stock-based compensation expense - SG&A for

   continuing operations (1) (4)

 

$

1,410,000

 

 

$

636,000

 

 

$

338,000

 

Income tax benefit for continuing operations (1) (5)

 

$

(662,000

)

 

$

(302,000

)

 

$

(175,000

)

 

(1)

Information relates to stock options granted since 2006.

(2)

Approximately $62,000 and $1,744,000 for 2015 and 2014, respectively is included in discontinued operations.

(3)

Approximately $126,000, $116,000, and $116,000, for 2015, 2014 and 2013, respectively is included in discontinued operations.

(4)

Approximately $508,000, $1,024,000, and $977,000, for 2015, 2014 and 2013, respectively is included in discontinued operations.

(5)

Approximately $(244,000), $(445,000), and $(426,000), for 2015, 2014 and 2013, respectively is included in discontinued operations.
Stock Options Outstanding and Exercisable

 

 

 

 

 

 

 

 

 

 

Stock Options Outstanding At December 31, 2015

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual Life

in Years

 

 

Weighted-

Average Exercise

Price

 

 

Intrinsic Value of

Shares

Outstanding   (A)

 

$

7.86

 

-

$

8.01

 

 

 

57,525

 

(B)

 

1.41

 

 

$

7.96

 

 

 

—

 

$

9.69

 

-

$

9.97

 

 

 

19,920

 

(C)

 

2.83

 

 

$

9.70

 

 

 

—

 

$

29.99

 

-

$

34.50

 

 

 

655,335

 

(D)

 

7.90

 

 

$

33.45

 

 

 

—

 

$

36.78

 

-

$

42.65

 

 

 

110,000

 

 

 

9.55

 

 

$

39.45

 

 

 

—

 

$

7.86

 

-

$

42.65

 

 

 

842,780

 

 

 

7.55

 

 

$

31.93

 

 

$

—

 

 

 

 

 

 

 

 

 

 

Stock Options Exercisable At December 31, 2015

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual

Life in Years

 

 

Weighted-

Average

Exercise Price

 

 

Intrinsic Value of

Shares

Outstanding   (A)

 

$

7.86

 

-

$

8.01

 

 

 

37,525

 

(E)

 

1.76

 

 

$

7.94

 

 

$

—

 

$

9.69

 

-

$

9.97

 

 

 

19,920

 

(F)

 

2.83

 

 

$

9.70

 

 

 

—

 

$

29.99

 

-

$

34.50

 

 

 

195,480

 

(G)

 

6.95

 

 

$

33.88

 

 

 

—

 

$

36.78

 

-

$

42.65

 

 

 

—

 

 

 

—

 

 

$

—

 

 

 

—

 

$

7.86

 

-

$

42.65

 

 

 

252,925

 

 

 

5.85

 

 

$

28.13

 

 

$

—

 

 

(A)

The exercise price of all stock options exceeded the market value of our common stock as of December 31, 2015.

 

(B)

Includes 40,000 options associated with discontinued operations.

 

(C)

Includes 6,215 options associated with discontinued operations.

 

(D)

Includes 164,810 options associated with discontinued operations.

 

(E)

Includes 20,000 options associated with discontinued operations.

 

(F)

Includes 6,215 options associated with discontinued operations.

 

(G)

Includes 54,025 options associated with discontinued operations.