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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2014
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:

 

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

Outstanding as of December 31, 2013

     2,469,607      $ 33.07         

Granted

     9,044        60.40         

Exercised

     (120,577     23.90         

Forfeited

     (12,057     54.47         
  

 

 

   

 

 

       

Outstanding as of March 31, 2014

     2,346,017      $ 33.54         5.69       $ 60,959,472   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2014

     1,665,677      $ 26.74         4.31       $ 54,047,694   
  

 

 

   

 

 

    

 

 

    

 

 

 
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, 2014 and 2013 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, 2014     March 31, 2013  

Expected life (years)

     5.93        5.55   

Interest rate

     1.8     0.8

Volatility

     45.2     50.0

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, 2014 and changes during the period are as follows:

 

     Number of     Weighted-  
     Shares at     Average  
     Expected     Grant Date  

Nonvested LTIP Performance Shares

   Attainment     Fair Value  

Nonvested as of December 31, 2013

     906,192      $ 41.35   

Granted

     6,355        60.40   

Forfeited

     (12,870     47.14   

Vested

     (211,881     26.63   

Change in attainment for 2010 grants

     8,742        26.63   
  

 

 

   

 

 

 

Nonvested as of March 31, 2014

     696,538      $ 45.71   
  

 

 

   

 

 

 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested restricted share awards (“RSAs”) as of March 31, 2014 and changes during the period are as follows:

 

     Number of        
     Restricted     Weighted-Average Grant  

Nonvested Restricted Share Awards

   Share Awards     Date Fair Value  

Nonvested as of December 31, 2013

     48,355      $ 44.74   

Vested

     (334     47.63   

Forfeited

     (487     61.54   
  

 

 

   

 

 

 

Nonvested as of March 31, 2014

     47,534      $ 44.55   
  

 

 

   

 

 

 
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, 2014 and changes during the period are as follows:

 

     Number of        
     Restricted     Weighted-Average Grant  

Nonvested Transaction Restricted Share Awards

   Share Awards     Date Fair Value  

Nonvested as of December 31, 2013

     19,184      $ 35.41   

Forfeited

     (2,987     35.41   
  

 

 

   

 

 

 

Nonvested as of March 31, 2014

     16,197      $ 35.41   
  

 

 

   

 

 

 
Online Resources Corporation
 
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:

 

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

Outstanding as of December 31, 2013

     20,815      $ 105.09         

Exercised

     (121     41.76         

Cancelled

     (2,757     101.35         
  

 

 

   

 

 

       

Outstanding as of March 31, 2014

     17,937      $ 106.09         2.09       $ 45,667   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2014

     17,937      $ 106.09         2.09       $ 45,667