XML 49 R33.htm IDEA: XBRL DOCUMENT v3.6.0.2
STOCK-BASED COMPENSATION PLAN (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the nonvested restricted stock awards outstanding and the assumptions used to estimate the fair value of the awards
The following table summarizes the nonvested restricted stock awards outstanding at December 31, 2016, and the assumptions used to estimate the fair value of the awards:

 
Grants
 
Shares Outstanding
 
Fair Value Per Share
 
Expected Volatility
 
Risk-Free Interest Rate
Officers & Key Employees -
2015 - TSR
 
33,537

 
$
26.31

 
16.0
%
 
1.10
%
 
2015 - EGR, ROE, Time
 
73,118

 
$
29.47

 
N/A

 
N/A

 
2016 - TSR
 
66,101

 
$
22.53

 
18.1
%
 
1.31
%
 
2016 - CEGR, Time
 
122,759

 
23.52

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
Directors -
2016
 
35,197

 
$
23.88

 
N/A

 
N/A
Summary of the total stock-based compensation cost for the period
The following table summarizes the total stock-based compensation cost for the years ended December 31 (in thousands):

 
2016
 
2015
 
2014
Officers & Key Employees
$
3,051

 
$
1,128

 
$
1,260

Directors
841

 
769

 
633

Total Cost
3,892

 
1,897

 
1,893

 
 
 
 
 
 
Capitalized
(385
)
 
(216
)
 
(147
)
Net Expense
$
3,507

 
$
1,681

 
$
1,746
Summary of information regarding restricted stock award activity during the period excluding accrued dividend equivalents
The following table summarizes information regarding restricted stock award activity during 2016, excluding accrued dividend equivalents:
 
Officers & Other Key Employees
 
Directors
 
Weighted
Average
Fair Value
Nonvested Shares Outstanding, January 1, 2016
226,191

 
26,338

 
$
26.89

Granted
194,347

 
35,197

 
$
23.28

Vested*
(113,917
)
 
(26,338
)
 
$
25.69

Cancelled/Forfeited**
(11,106
)
 
—

 
$
25.11

Nonvested Shares Outstanding, December 31, 2016
295,515

 
35,197

 
$
24.96


*Based on performance information available at the filing of this Report, management expects to award 29,044 shares associated with the 2014 grants to Officers and other key employees in 2017.
** Represents shares forfeited as a result of separation of employment prior to the satisfaction of service conditions.