Shared-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Share-Based Compensation Expense

The share-based compensation expense during the three months ended March 31, 2017 and 2016 consisted of the following:

	Three Months Ended March 31,
	2017		2016
Stock options	$	381	$	202
Restricted stock		460		648
Performance share units		311		151
Share-based compensation	$	1,152	$	1,001

Reconciliation of Option Activity

The following table provides a reconciliation of option activity for the three months ended March 31, 2017:

Options	Shares (000)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2017		897		$	12.22
Granted		126			24.20
Exercised		(81	)		11.45
Forfeited or expired		(2	)		13.29
Outstanding at March 31, 2017		940		$	13.88		6.5	$	10,643	(1)
Exercisable at March 31, 2017		694		$	12.11		5.4	$	9,081	(1)

⁽¹⁾  The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at March 31, 2017.

Stock Option [Member]

Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant

the Black Scholes financial pricing model to estimate the fair value. The weighted average assumptions relevant to determining the fair value of the 2017 stock option grants are below:

	2017 Stock Option Awards
Term		6 years
Risk free interest rate		2.03	%
Dividend yield		1.16	%
Expected volatility		56.56	%
Expected forfeiture rate		3.00	%