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Stock-Based Compensation Plans (Tables)
6 Months Ended
Jun. 30, 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:

 

     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, 2013

     7,408,821      $ 11.02         

Granted

     27,132        20.13         

Exercised

     (542,391     7.57         

Forfeited or expired

     (62,895     17.25         
  

 

 

   

 

 

       

Outstanding as of June 30, 2014

     6,830,667      $ 11.28         5.43       $ 51,913,490   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of June 30, 2014

     5,002,719      $ 9.19         4.19       $ 47,115,588   
  

 

 

   

 

 

    

 

 

    

 

 

 
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 and six months ended June 30, 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:

 

     Six Months Ended     Three Months Ended     Six Months Ended  
     June 30, 2014     June 30, 2013     June 30, 2013  

Expected life (years)

     5.93        9.57        8.70   

Interest rate

     1.8     2.1     1.8

Volatility

     45.2     46.9     47.6

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 June 30, 2014 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, 2013

     2,718,576      $ 13.79   

Granted

     19,065        20.13   

Forfeited

     (67,344     15.28   

Vested

     (635,643     8.88   

Change in attainment for 2010 grants

     26,226        8.88   
  

 

 

   

 

 

 

Nonvested as of June 30, 2014

     2,060,880      $ 15.25   
  

 

 

   

 

 

 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested restricted share awards (“RSAs”) as of June 30, 2014 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, 2013

     145,065      $ 14.91   

Granted

     94,773        18.47   

Vested

     (5,802     12.69   

Forfeited

     (1,461     20.51   
  

 

 

   

 

 

 

Nonvested as of June 30, 2014

     232,575      $ 16.38   
  

 

 

   

 

 

 
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:

 

     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, 2013

     62,445      $ 35.03         

Exercised

     (909     13.92         

Expired

     (12,867     30.80         
  

 

 

   

 

 

       

Outstanding as of June 30, 2014

     48,669      $ 36.54         2.05       $ 34,303   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of June 30, 2014

     48,669      $ 36.54         2.05       $ 34,303   
  

 

 

   

 

 

    

 

 

    

 

 

 
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 June 30, 2014 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, 2013

     57,552      $ 11.80   

Forfeited

     (12,993     11.80   
  

 

 

   

 

 

 

Nonvested as of June 30, 2014

     44,559      $ 11.80