Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following grants of share-based awards were made in 2015 under the 2005 Incentive Plan:



Date of Grant	Shares	Grant Date Fair Value Per Share		Vesting Period

January 2, 2015 ⁽¹⁾	289,163	$	21.70	33% per year over three years
January 2, 2015 ⁽²⁾	289,163	$	25.06	100% on January 1, 2018
January 5, 2015 ⁽³⁾	3,946	$	21.66	100% on January 1, 2017
January 12, 2015 ⁽¹⁾	3,866	$	19.40	33% per year over three years
January 12, 2015 ⁽²⁾	3,866	$	25.06	100% on January 11, 2018
February 1, 2015 ⁽¹⁾	2,664	$	18.77	33% per year over three years
February 1, 2015 ⁽²⁾	2,664	$	25.06	100% on January 31, 2018
April 1, 2015 ⁽³⁾	6,476	$	14.96	100% on January 1, 2017
July 1, 2015 ⁽³⁾	6,631	$	12.63	100% on January 1, 2017
October 1, 2015 ⁽³⁾	17,876	$	4.79	100% on January 1, 2017
December 3, 2015 ⁽⁴⁾	170,454	$	6.16	33% per year over three years


(1)	Reflects the grant of restricted stock to our executive officers and select management employees.


(2)	Reflects the grant of PSUs to our executive officers and select management employees.


(3)	Reflects the grant of restricted stock to certain independent 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.

Summary of information about restricted stock

The following table summarizes information about our restricted stock:



	Year Ended December 31,
	2015				2014				2013
	Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾

Awards outstanding at beginning of year	554,960		$	17.54	771,942		$	13.62	1,191,402		$	14.14
Granted	501,076		15.57		139,455		23.22		168,468		21.63
Vested ^{(2) (3)}	(332,223	)	16.44		(356,437	)	11.27		(502,022	)	17.50
Forfeited	(62,689	)	20.93		—		—		(85,906	)	13.79
Awards outstanding at end of year ⁽³⁾	661,124		$	16.28	554,960		$	17.54	771,942		$	13.62


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


(2)	Total fair value of restricted stock and RSUs that vested during the years ended December 31, 2015, 2014 and 2013 was $5.1 million, $8.2 million and $11.0 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.