XML 39 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Share Based Awards (Tables)
3 Months Ended
Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes the stock option transactions during the three months ended June 30, 2018:

 

 

 

 

 

 

 

Weighted-

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Exercise

 

 

Remaining

 

 

Intrinsic

 

Employee Stock Options Summary

 

Number of

 

 

Price

 

 

Contractual

 

 

Value

 

 

 

Shares

 

 

per Share

 

 

Life (years)

 

 

(in thousands)

 

Outstanding, April 1, 2018

 

 

3,670,170

 

 

$

15.51

 

 

 

6.2

 

 

$

766

 

Granted

 

 

241,130

 

 

$

16.83

 

 

 

7.9

 

 

 

 

 

Exercised

 

 

(54,945

)

 

$

14.97

 

 

 

4.9

 

 

$

115

 

Forfeited/Canceled

 

 

(107,480

)

 

$

23.82

 

 

 

4.1

 

 

 

 

 

Expired

 

 

(2,400

)

 

$

28.15

 

 

 

 

 

 

 

 

 

Outstanding, June 30, 2018

 

 

3,746,475

 

 

$

15.36

 

 

 

6.2

 

 

$

17,480

 

Vested and expected to vest, June 30, 2018

 

 

3,338,148

 

 

$

15.46

 

 

 

6.1

 

 

$

15,442

 

Exercisable, June 30, 2018

 

 

1,175,270

 

 

$

17.21

 

 

 

4.8

 

 

$

4,648

 

 

Schedule of Assumptions Used in Black-Scholes Model to Estimate Fair Value of Stock Awards

We utilize the Black-Scholes valuation model for estimating the fair value of share-based compensation with the following assumptions:

 

 

 

Three Months Ended June 30,

 

 

 

2018

 

 

2017

 

Expected term

 

6.3 years

 

 

5.6  - 5.7 years

 

Expected volatility

 

36.8%

 

 

37.6% - 37.7%

 

Expected dividends

 

0.0%

 

 

0.0%

 

Risk-free rate

 

2.8%

 

 

1.9%

 

 

Summary of Stock Options Granted

During the three months ended June 30, 2018, a total of 241,130 options to purchase shares of common stock were granted under the Amended 2015 Plan at an exercise price equal to the market price of our common stock on the date of grant, as summarized below:

 

Option Grant Date

 

Number of

Shares

 

 

Exercise

Price

 

 

Vesting

Terms (1)

 

Expiration

May 30, 2018

 

 

241,130

 

 

$

16.83

 

 

Four Years

 

June 1, 2026

(1)

Options vest in equal annual installments on each grant anniversary date commencing one year following the date of grant.

Schedule of Employee Stock Options and Performance Based Awards by Non-vested Stock Options

Non-vested stock option award activity during the three months ended June 30, 2018 is summarized as follows:

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Grant-Date

 

Non-Vested Stock Option Award Summary

 

Number of

 

 

Fair Value

 

 

 

Shares

 

 

per Share

 

Outstanding, April 1, 2018

 

 

2,657,005

 

 

$

5.18

 

Granted

 

 

241,130

 

 

 

6.92

 

Vested

 

 

(265,150

)

 

 

5.02

 

Forfeited/Canceled

 

 

(61,780

)

 

 

5.38

 

Outstanding, June 30, 2018

 

 

2,571,205

 

 

$

5.35

 

 

Summary of Restricted Stock Awards Activity

Restricted stock awards activity during the three months ended June 30, 2018 is summarized as follows:

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Grant-Date

 

Restricted Stock

 

Number of

 

 

Fair Value

 

 

 

Shares

 

 

per Share

 

Outstanding, April 1, 2018

 

 

1,820,910

 

 

$

14.52

 

Granted

 

 

396,400

 

 

 

16.83

 

Vested

 

 

(258,943

)

 

 

14.69

 

Canceled

 

 

(178,581

)

 

 

14.32

 

Outstanding, June 30, 2018

 

 

1,779,786

 

 

$

15.02