XML 50 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following summarizes the assumptions used in determining the fair value of stock options granted for fixed awards with graded vesting schedules during the year ended December 31, 2013:
 
 
 
2013
Risk-free interest rate
 
 
1.0%
 
Expected dividend yield
 
 
0.0%
 
Weighted average expected volatility
 
 
50%
 
Expected term
 
 
6.0 years
 
Weighted average grant-date fair value
 
$
11.74
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Following is a summary of stock option activity for the three-year period ending December 31, 2015:
 
 
 
 
 
 
Options
 
Weighted- Average Exercise
Price
 
Weighted- Average Remaining Contractual Term
 
Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2013
 
 
1,432,228
 
 
$
10.34
 
 
 
  
 
 
 
  
 
Granted
 
 
111,147
 
 
$
24.68
 
 
 
  
 
 
 
  
 
Exercised
 
 
(390,652
) 
 
$
5.90
 
 
 
  
 
 
 
  
 
Forfeited
 
 
(4,003
) 
 
$
20.28
 
 
 
  
 
 
 
  
 
Expired
 
 
(1,400
) 
 
$
15.96
 
 
 
 
 
 
 
Outstanding at December 31, 2013
 
 
1,147,320
 
 
$
13.21
 
 
 
5.1 years
 
 
$
13,623
 
Exercised
 
 
(134,273
) 
 
$
7.93
 
 
 
  
 
 
 
  
 
Forfeited
 
 
(2,838
) 
 
$
22.66
 
 
 
  
 
 
 
  
 
Expired
 
 
(1,428
) 
 
$
24.26
 
 
 
 
 
 
 
Outstanding at December 31, 2014
 
 
1,008,781
 
 
$
13.87
 
 
 
4.2 years
 
 
$
13,652
 
Exercised
 
 
(267,440
) 
 
$
7.19
 
 
 
  
 
 
 
  
 
Forfeited
 
 
(1,290
) 
 
$
23.14
 
 
 
  
 
 
 
  
 
Expired
 
 
(9,446
) 
 
$
5.92
 
 
 
 
 
 
 
Outstanding at December 31, 2015
 
 
730,605
 
 
$
16.40
 
 
 
3.6 years
 
 
$
3,722
 
Exercisable at December 31, 2015
 
 
698,303
 
 
$
16.01
 
 
 
3.4 years
 
 
$
3,722
 
Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block]
Other data relating to option activity for the years ended December 31 are as follows:
 
 
 
 
(dollars in thousands)
 
2015
 
2014
 
2013
Intrinsic value of options exercised
 
$
5,857
 
 
$
2,383
 
 
$
6,878
 
Fair value of options vested
 
 
948
 
 
 
1,187
 
 
 
1,047
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table summarizes information with respect to stock options outstanding and exercisable under the Company’s plans at December 31, 2015:
 
 
 
 
 
 
 
Options Outstanding
 
Options Exercisable
Exercise Price
 
Number Of
Options
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Term
 
Number Of
Options
 
Weighted-
Average
Exercise
Price
$3.65 – $9.00
 
 
42,923
 
 
$
3.90
 
 
 
0.6 years
 
 
 
42,923
 
 
$
3.90
 
$9.01 – $18.00
 
 
497,116
 
 
$
14.62
 
 
 
3.2 years
 
 
 
497,116
 
 
$
14.62
 
$18.01 – $24.68
 
 
190,566
 
 
$
23.85
 
 
 
5.1 years
 
 
 
158,264
 
 
$
23.68
 
  
 
 
730,605
 
 
$
16.40
 
 
 
3.6 years
 
 
 
698,303
 
 
$
16.01
 
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]
Following is a summary of restricted stock activity for the three-year period ending December 31, 2015:
 
 
 
 
Shares
 
Per Share
Weighted-
Average
Grant Date
Fair Value
Outstanding unvested at January 1, 2013
 
 
185,764
 
 
$
19.54
 
Granted
 
 
76,590
 
 
$
24.48
 
Vested
 
 
(48,513
) 
 
$
19.50
 
Forfeited
 
 
(2,125
) 
 
$
20.03
 
Outstanding unvested at December 31, 2013
 
 
211,716
 
 
$
21.33
 
Granted
 
 
82,351
 
 
$
24.46
 
Vested
 
 
(64,657
) 
 
$
20.85
 
Forfeited
 
 
(9,073
) 
 
$
21.34
 
Outstanding unvested at December 31, 2014
 
 
220,337
 
 
$
22.64
 
Granted
 
 
83,236
 
 
$
29.21
 
Vested
 
 
(102,297
) 
 
$
22.42
 
Forfeited
 
 
(3,131
) 
 
$
24.10
 
Outstanding unvested at December 31, 2015
 
 
198,145
 
 
$
24.48
 
Schedule of Nonvested Performance-based Units Activity [Table Text Block]
Following is a summary of performance share award activity for the three-year period ending December 31, 2015:
 
 
 
 
Shares
 
Per Share
Weighted-
Average
Grant Date
Fair Value
Outstanding at January 1, 2013
 
 
74,923
 
 
$
20.51
 
Granted at target
 
 
46,106
 
 
$
24.68
 
Earned for performance above target
 
 
11,281
 
 
$
24.18
 
Vested
 
 
(45,116
) 
 
$
24.18
 
Outstanding at December 31, 2013
 
 
87,194
 
 
$
21.29
 
Granted at target
 
 
85,078
 
 
$
27.69
 
Earned for performance above target
 
 
25,292
 
 
$
17.48
 
Vested
 
 
(65,237
) 
 
$
17.48
 
Forfeited
 
 
(5,524
) 
 
$
24.84
 
Outstanding at December 31, 2014
 
 
126,803
 
 
$
26.63
 
Granted at target
 
 
69,978
 
 
$
38.70
 
Forfeited for performance below target
 
 
(3,810
) 
 
$
24.68
 
Vested
 
 
(40,474
) 
 
$
24.68
 
Forfeited
 
 
(8,889
) 
 
$
30.87
 
Outstanding at December 31, 2015
 
 
143,608
 
 
$
32.68