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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2014
Employee Benefit Plans [Abstract]  
Schedule Of Share-based Awards

Date of Grant

 

 

Shares

 

 

 

Grant Date Fair Value Per Share

 

 

 

Vesting Period

 

 

 

 

 

 

 

 

 

 

 

 

January 2, 2014 (1)

 

 

73,609 

 

 

$

23.18 

 

 

 

33% per year over three years

January 2, 2014 (2)

 

 

73,609 

 

 

$

26.79 

 

 

 

100% on January 1, 2017

January 2, 2014 (3)

 

 

2,724 

 

 

$

23.18 

 

 

 

100% on January 1, 2016

April 1, 2014 (3)

 

 

4,051 

 

 

$

22.98 

 

 

 

100% on January 1, 2016

July 1, 2014 (3)

 

 

3,397 

 

 

$

26.31 

 

 

 

100% on January 1, 2016

October 1, 2014 (3)

 

 

3,882 

 

 

$

22.06 

 

 

 

100% on January 1, 2016

December 4, 2014 (4)

 

 

51,792 

 

 

$

23.17 

 

 

 

33% per year over three years

 

(1) Reflects the grant of restricted stock to our executive officers.

 

(2) Reflects the grant of PSUs to our executive officers.

 

(3) Reflects the grant of restricted stock to certain members of our Board of Directors who have made an election to take their quarterly fees in stock in lieu of cash.

 

(4) Reflects annual equity grants to each independent member of our Board of Directors.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2012

 

 

 

 

 

Grant Date

 

 

 

Grant Date

 

 

 

Grant Date

 

 

 

Shares

 

Fair Value (1)

 

Shares

 

Fair Value (1)

 

Shares

 

Fair Value (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Awards outstanding at beginning of year

 

771,942 

$

13.62 

 

1,191,402 

$

14.14 

 

1,263,218 

$

14.80 

 

Granted

 

139,455 

 

23.22 

 

168,468 

 

21.63 

 

349,430 

 

16.30 

 

Vested (2) (3)

 

(356,437)

 

11.27 

 

(502,022)

 

17.50 

 

(400,180)

 

18.07 

 

Forfeited

 

 -

 

 -

 

(85,906)

 

13.79 

 

(21,066)

 

15.00 

 

Awards outstanding at end of year (3)

 

554,960 

$

17.54 

 

771,942 

$

13.62 

 

1,191,402 

$

14.14 

 

 

(1) Represents the weighted average grant date fair value, which is based on the quoted market price of our common stock on the business day prior to the date of grant. 

 

(2) Total fair value of restricted stock and RSUs that vested during the years ended December 31, 2014,  2013 and 2012 was $8.2 million, $11.0 million and $6.7 million, respectively. 

 

(3) The vested and year-end amounts in 2014 each include 33,760 shares of RSUs with the grant date fair value of $15.80 per share.  In December 2013, management elected to pay out the January 2014 vesting of these RSUs in cash.  As a result, we recorded a $1.3 million liability associated with these RSUs at December 31, 2013 and an additional liability of $0.2 million during 2014.  We paid $0.8 million of this liability in January 2014 and $0.7 million in January 2015.