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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of share-based compensation expense

The following table summarizes share-based compensation expense:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in thousands)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Restricted stock

 

$

576

 

 

$

506

 

 

$

1,074

 

 

$

1,100

 

Performance unit incentive plan (“PUP”)

 

 

816

 

 

 

376

 

 

 

1,351

 

 

 

988

 

Restricted stock units

 

 

41

 

 

 

(7

)

 

 

74

 

 

 

18

 

Share-based compensation before income tax benefit

 

 

1,433

 

 

 

875

 

 

 

2,499

 

 

 

2,106

 

Income tax benefit

 

 

(540

)

 

 

(325

)

 

 

(938

)

 

 

(792

)

Share-based compensation, net of income tax benefit

 

$

893

 

 

$

550

 

 

$

1,561

 

 

$

1,314

 

 

Summary of activity of the outstanding share-based compensation awards

The following table summarizes the activity of the outstanding share-based compensation awards:

 

 

 

Restricted Stock

 

 

PUP Awards

 

 

Restricted Stock Units

 

 

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

Balance at December 31, 2015

 

 

279,217

 

 

$

25.65

 

 

 

231,165

 

 

$

26.15

 

 

 

16,447

 

 

$

25.69

 

Granted

 

 

74,300

 

 

$

27.01

 

 

 

104,084

 

 

$

26.88

 

 

 

5,500

 

 

$

26.98

 

Vested

 

 

(71,005

)

 

$

26.89

 

 

 

(73,188

)

 

$

27.35

 

 

 

(5,965

)

 

$

27.18

 

Forfeited

 

 

(7,054

)

 

$

24.80

 

 

 

(6,556

)

 

$

25.84

 

 

 

 

 

$

 

Balance at June 30, 2016

 

 

275,458

 

 

$

25.72

 

 

 

255,505

 

 

$

26.11

 

 

 

15,982

 

 

$

25.58