(11)	Stock Based Compensation

The Company recognizes compensation costs for stock options awarded to employees based on their grant-date fair value. The value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model. The weighted-average fair value per share for the stock options granted to employees during the three and six months ended June 30, 2014 were $6.11 and $6.49, respectively. The weighted-average fair value per share for the stock options granted to employees during the three and six months ended June 30, 2013 were $5.43 and $5.53, respectively.

For the three months ended June 30, 2014 and 2013, the Company recorded $595 and $517, respectively, in selling, general and administrative expenses for stock options. For the six months ended June 30, 2014 and 2013, the Company recorded $1,149 and $925, respectively, in selling, general and administrative expenses for stock options. As of June 30, 2014, the total compensation cost related to unvested stock options not yet recognized was $5,502. The cost will be amortized on a straight-line basis over the remaining weighted-average vesting period of 2.4 years.

The following table is a summary of the Company’s stock options:

Options	Number of Shares			Weighted Average Exercise Price

Outstanding at December 31, 2013		2,229,969		$	9.39
Granted		20,000		$	17.66
Exercised		(139,000	)	$	9.47
Forfeited or expired		(18,550	)	$	6.99
Outstanding at March 31, 2014		2,092,419		$	9.49
Granted		38,788		$	21.69
Exercised		(57,650	)	$	6.98
Forfeited or expired		(18,900	)	$	13.41
Outstanding at June 30, 2014		2,054,657		$	9.76
Exercisable at June 30, 2014		1,028,619		$	6.44

The aggregate intrinsic value for all stock options exercised for the three and six months ended June 30, 2014 was $766 and $2,407, respectively. The aggregate intrinsic value for all stock options exercised for the three and six months ended June 30, 2013 was $1,123 and $1,889, respectively. The aggregate intrinsic values for all stock options outstanding and exercisable as of June 30, 2014 were $22,526 and $14,665, respectively.

The following table is a summary of the Company’s nonvested stock options and restricted stock:

	Nonvested Stock Options					Nonvested Restricted Stock
	Number of Shares			Weighted- Average Grant-Date Fair Value		Number of Shares		Weighted- Average Grant-Date Fair Value

Nonvested at December 31, 2013		1,080,900		$	6.50		-	$	-
Granted		20,000		$	7.21		-	$	-
Vested during period		(22,500	)	$	3.32		-	$	-
Forfeited		(6,000	)	$	5.21		-	$	-
Nonvested at March 31, 2014		1,072,400		$	6.59		-	$	-
Granted		38,788		$	6.11		18,906	$	20.90
Vested during period		(66,250	)	$	3.28		-	$	-
Forfeited		(18,900	)	$	7.13		-	$	-
Nonvested at June 30, 2014		1,026,038		$	6.77		18,906	$	20.90

For the three months ended June 30, 2014 and 2013, the Company recorded $124 and $139, respectively, in selling, general and administrative expenses for restricted stock awards. For the six months ended June 30, 2014 and 2013, the Company recorded $124 and $161, respectively, in selling, general and administrative expenses for restricted stock awards. As of June 30, 2014, the total compensation cost related to unvested restricted stock not yet recognized was $271. The cost will be amortized on a straight-line basis over the remaining weighted-average vesting period of 0.3 years.

The Company granted equity-settled performance shares (“PS”) to certain executives. PS awards provide the recipient the right to receive a certain number of shares of the Company’s common stock in the future, which depends on the Company’s level of achievement of revenue and EBITDA growth as compared to the revenue and EBITDA growth of the members of a specified peer group of companies over a three year period. For the three months ended June 30, 2014 and 2013, the Company recorded $315 and $93, respectively, in selling, general and administrative expenses related to these PS awards. For the six months ended June 30, 2014 and 2013, the Company recorded $675 and $156, respectively, in selling, general and administrative expenses related to these PS awards.

The Company granted cash-settled performance share units (“PSU”) to certain executives. PSU awards provide the recipient the right to receive the cash value of a certain number of shares of the Company’s common stock in the future, which depends on the Company’s level of achievement of revenue and EBITDA growth as compared to the revenue and EBITDA growth of the members of a specified peer group of companies over a three year period. For the three months ended June 30, 2014 and 2013, the Company recorded $418 and $320, respectively, in selling, general and administrative expenses for PSU awards. For the six months ended June 30, 2014 and 2013, the Company recorded $611 and $861, respectively, in selling, general and administrative expenses for PSU awards.