STOCK-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2015

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

4.	STOCK-BASED COMPENSATION PLANS

In accordance with the Company’s stock-based compensation plans, the Company may grant incentive stock options as well as non-qualified and other stock-related incentives to officers, employees and non-employee directors of the Company. Options vest ratably over a two to four-year period beginning on the grant date and expire ten years from the date of grant. Shares available for granting options at December 31, 2015, 2014 and 2013 were 0, 600,000 and 600,000, respectively. Equity incentive awards were previously granted under the Company’s 2005 Equity Incentive Plan; however this plan expired on April 27, 2015.

A summary of the activity of stock options for the years ended December 31, 2015, 2014 and 2013, is presented below (shares in thousands):

	2015					2014					2013
	Shares Under Option			Weighted Average Exercise Price		Shares Under Option			Weighted Average Exercise Price		Shares Under Option			Weighted Average Exercise Price
Outstanding at Beginning of Period		72		$	5.49		104		$	5.60		206		$	5.83
Granted		—			—		—			—		—			—
Exercised		(34	)		5.49		(32	)		5.86		(102	)		6.07
Forfeited and cancelled		—			—		—			—		—			—
Outstanding at End of Period		38		$	5.49		72		$	5.49		104		$	5.60
Options exercisable at year end		38		$	5.49		72		$	5.49		104		$	5.60

A summary of options outstanding under the Company’s stock-based compensation plans at December 31, 2015 is presented below (in thousands):

Exercise Price

Shares
Under
Option

Weighted
Average
Exercise Price
of
Options
Outstanding

Weighted
Average
Remaining Life

Options
Exercisable

Weighted
Average
Exercise Price
of
Shares
Exercisable

Aggregate
Intrinsic

Value

5.49

2.85

5.49

619