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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2013
Summary of Stock Options Issued Pursuant to Stock Incentive Plans

A summary of stock options issued pursuant to the Company’s stock incentive plans is as follows:

 

     Number of
Shares
    Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value of
In-the-Money
Options
 

Outstanding as of December 31, 2012

     2,968,582      $ 27.15         

Granted

     18,359        47.63         

Exercised

     (169,605     22.78         

Expired

     (429     28.94         
  

 

 

   

 

 

       

Outstanding as of March 31, 2013

     2,816,907      $ 27.55         5.23       $ 60,039,934   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2013

     1,683,640      $ 24.63         4.46       $ 40,792,908   
  

 

 

   

 

 

    

 

 

    

 

 

 
Estimated Fair Value of Options Granted using Black-Scholes Option-Pricing Model with Weighted-Average Assumptions

The fair value of options granted during the three months ended March 31, 2013 and 2012 was estimated on the date of grant using the Black-Scholes option-pricing model, a pricing model acceptable under U.S. GAAP, with the following weighted-average assumptions:

 

     Three Months Ended     Three Months Ended  
     March 31, 2013     March 31, 2012  

Expected life (years)

     5.55        5.55   

Interest rate

     0.8     1.1

Volatility

     50.0     51.3

Dividend yield

     —          —     
Summary of Nonvested Long-Term Incentive Program Performance Share Awards Outstanding and Changes During Period

A summary of nonvested long-term incentive program performance share awards (“LTIP performance shares”) outstanding as of March 31, 2013 and changes during the period are as follows:

 

Nonvested LTIP Performance Shares

   Number of
Shares at
Expected
Attainment
    Weighted-
Average
Grant
Date Fair
Value
 

Nonvested as of December 31, 2012

     1,101,484      $ 28.14   

Granted

     14,686        47.63   

Vested

     (327,576     16.83   
  

 

 

   

 

 

 

Nonvested as of March 31, 2013

     788,594      $ 33.20   
  

 

 

   

 

 

 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested restricted share awards (“RSAs”) as of March 31, 2013 and changes during the period are as follows:

 

Nonvested Restricted Share Awards

   Number of
Restricted
Share Awards
    Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2012

     69,238      $ 41.02   

Granted

     1,000        47.63   

Vested

     (3,333     20.76   
  

 

 

   

 

 

 

Nonvested as of March 31, 2013

     66,905      $ 42.13   
  

 

 

   

 

 

 
ORCC
 
Summary of Stock Options Issued Pursuant to Stock Incentive Plans

A summary of transaction stock options issued pursuant to the Company’s stock incentive plans is as follows:

 

     Number of
Shares
     Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value of
In-the-Money
Options
 

Outstanding as of December 31, 2012

     —         $ —           

Transaction stock options converted upon acquisition of ORCC

     37,468         91.92         
  

 

 

    

 

 

       

Outstanding as of March 31, 2013

     37,468       $ 91.92         2.30       $ 61,350   
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2013

     37,468       $ 91.92         2.30       $ 61,350   
  

 

 

    

 

 

    

 

 

    

 

 

 
S1 2003 Stock Incentive Plan
 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested Transaction RSAs issued under the S1 2003 Stock Incentive Plan as of March 31, 2013 and changes during the period are as follows:

 

Nonvested Transaction Restricted Share Awards

   Number of
Restricted
Share Awards
    Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2012

     50,244      $ 35.41   

Forfeited

     (3,585     35.41   
  

 

 

   

 

 

 

Nonvested as of March 31, 2013

     46,659      $ 35.41