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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Share-Based Compensation [Abstract]  
Summary of Restricted Stock Unit and Stock Option Activity



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



Restricted Stock Units

 

Stock Options



 

 

Weighted-

 

 

 

Weighted-



 

 

Average

 

 

 

Average



 

 

Grant Date

 

 

 

Exercise/



 

 

Fair Value

 

 

 

(Strike) Price



Number

 

Per Share

 

Number

 

Per Share

Outstanding as of December 31, 2015

725,597 

 

$

25.28 

 

1,998,000 

 

$

19.62 

Granted

483,387 

 

 

19.14 

 

274,000 

 

 

16.20 

Vested/exercised

(52,500)

 

 

18.74 

 

(97,500)

 

 

12.72 

Outstanding as of December 31, 2016

1,156,484 

 

$

22.64 

 

2,174,500 

 

$

19.50 

Granted

1,064,000 

 

 

30.02 

 

539,000 

 

 

24.54 

Expired or cancelled

(20,985)

 

 

23.91 

 

(19,466)

 

 

26.56 

Vested/exercised

(801,515)

 

 

19.38 

 

(140,000)

 

 

21.41 

Outstanding as of December 31, 2017

1,397,984 

 

$

30.11 

 

2,554,034 

 

$

20.45 

Granted

699,000 

 

 

24.21 

 

664,000 

 

 

23.20 

Expired or cancelled

(240,289)

 

 

32.76 

 

(274,990)

 

 

22.82 

Vested/exercised

(387,695)

 

 

28.67 

 

 —

 

 

 —

Outstanding as of December 31, 2018

1,469,000 

 

$

27.27 

 

2,943,044 

 

$

20.89 



Summary Of Unrestricted Stock Units Issuance



 

 

 

 

 



 

 

 

 

 



 

Unrestricted Stock Units



 

 

 

Weighted-Average



 

 

 

Grant Date

Year

 

Number

 

Fair Value Per Share

2016

 

64,603 

 

$

21.67 

2017

 

99,155 

 

 

26.26 

2018

 

115,420 

 

 

21.26 



Weighted-Average Assumptions Used in Estimating Grant Date Fair Values of Stock Option Awards



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Year Ended December 31,



2018

 

2017

 

2016

Total stock options granted

 

664,000 

 

 

 

539,000 

 

 

 

274,000 

 

Weighted-average grant date fair value

$

11.09 

 

 

$

13.11 

 

 

$

5.31 

 

Weighted-average assumptions:

 

 

 

 

 

 

 

 

 

 

 

Risk-free rate

 

2.6 

%

 

 

1.8 

%

 

 

1.2 

%

Expected life of options(a)

 

5.8 

 

 

 

4.8 

 

 

 

4.2 

 

Expected volatility(b)

 

42.2 

%

 

 

43.1 

%

 

 

40.6 

%

Expected quarterly dividends

$

 —

 

 

$

 —

 

 

$

 —

 

_____________________________________________________________________________________________________________

(a)

Calculated using the simplified method due to the terms of the stock options and the limited pool of grantees.

(b)

Calculated using historical volatility of the Company’s common stock over periods commensurate with the expected life of the option.