Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Stock-Based Compensation

Summary of Restricted Stock Unit Awards Activity

					Aggregate
			Weighted Average		Intrinsic
	Number		Grant Date		Value
	of Shares		Fair Value		(in thousands)
Granted and Unvested - January 1, 2014	361,668		$	17.30	$	9,512
Vested	(161,668	)	$	19.30	$	4,619
Granted	866,500		$	27.33	$	27,503
Forfeited	(15,000	)	$	28.59	—
Total Granted and Unvested	1,051,500		$	25.10	$	33,375
Approved for grant	401,000		(a)		$	12,728
Total Awarded and Unvested - June 30, 2014	1,452,500		n.a.		$	46,102

(a) Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Vesting Schedule of Outstanding Unvested Restricted Stock Unit Awards

	Number
Vesting Date	of Awards
2014	125,000
2015	342,500
2016	202,500
2017	737,500
2018	36,000
2019	9,000
	1,452,500

Summary of Stock Options Activity

		Weighted Average
	Number	Grant Date		Exercise
	of Shares	Fair Value		Price
Total Granted and Outstanding - January 1, 2014	1,295,000	$	9.94	$	20.20
Granted	714,000	$	17.69	$	18.40
Exercised	—	—		—
Forfeited	—	—		—
Total Granted and Outstanding	2,009,000	$	12.70	$	19.56
Approved for grant	336,000	(a)		$	11.88
Total Awarded and Outstanding - June 30, 2014	2,345,000	n.a.		$	18.46

(a) Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Key Assumptions Used in Estimating Grant Date Fair Value of Stock Option Awards

Number of options	250,000			75,000			9,000			150,000			230,000
Risk-free interest rate	2.08		%	1.72		%	2.25		%	1.46		%	1.82		%
Expected life of options (years)	6.5			5.3			7.0			4.6			5.6
Expected volatility of underlying stock	50.97		%	51.72		%	50.68		%	47.69		%	51.86		%
Expected quarterly dividends (per share)	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00