Share-Based Compensation (Tables)

The average fair value of stock options granted during the year ended December 31, 2016, 2015, and 2014 of $11.91, $17.88, and $26.32 was estimated using the following weighted-average assumptions:



	Year Ended December 31,
	2016		2015		2014
Risk-free interest rate	1.2	%	1.4	%	1.8	%
Expected life (years)	4.5		4.5		3.7
Expected stock volatility	36.2	%	40.4	%	41.4	%
Expected dividend yield	0.4	%	0.3	%	0.2	%

A summary of the status of all stock options granted to employees and non-employee directors as of December 31, 2016, 2015, and 2014 and changes during the years are presented in the table below:



	December 31,
	2016				2015				2014
	Options		Weighted Average Exercise Price		Options		Weighted Average Exercise Price		Options		Weighted Average Exercise Price
Options outstanding at beginning of period	570,737		$	56.86	486,004		$	57.85	355,081		$	50.71
Granted	210,633		38.89		118,992		51.84		164,503		70.87
Exercised	(5,982	)	41.05		(7,717	)	33.44		(12,937	)	32.41
Forfeited	(33,014	)	45.25		(26,542	)	59.25		(20,643	)	54.72
Expired	(6,055	)	65.34		—		—		—		—
Options outstanding at end of period	736,319		$	52.30	570,737		$	56.86	486,004		$	57.85
Options exercisable at end of period	226,386		$	45.20	140,248		$	43.08	78,226		$	38.75

The following table summarizes information about stock options outstanding at December 31, 2016:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Options	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Options	Weighted Average Exercise Price
$30.91 - $38.95	204,579	5.9	$	38.43	14,061	$	32.13
38.96 - 46.51	208,276	6.1	41.08		158,276	41.06
46.52 - 70.99	187,183	6.2	61.77		29,631	51.84
71.00 - 79.33	136,281	6.1	77.26		24,418	71.56
$30.91 - $79.33	736,319	6.1	$	52.30	226,386	$	45.20

A summary of the status of all RSU Awards granted to employees and non-employee directors as of December 31, 2016, 2015, and 2014 and changes during the year are presented in the table below:



	December 31,
	2016				2015				2014
	RSUs		Weighted Average Price		RSUs		Weighted Average Price		RSUs		Weighted Average Price
RSU Awards outstanding at beginning of period	109,281		$	52.90	115,949		$	52.97	176,084		$	44.39
Granted	98,942		41.09		62,322		51.53		38,899		72.11
Settled	(54,034	)	48.50		(56,865	)	48.34		(58,117	)	45.51
Canceled	(22,527	)	46.86		(19,088	)	55.08		(40,917	)	44.86
Added by Performance Factor	7,099		41.55		6,963		32.76		—		—
RSU Awards outstanding at end of period	138,761		$	46.60	109,281		$	52.90	115,949		$	52.97
RSU Awards exercisable at end of period	3,040		$	60.92	1,200		$	59.29	250		$	42.12

The following table summarizes information about RSU Awards outstanding at December 31, 2016:



	RSU Awards Outstanding
Range of Grant Prices	RSUs	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
$38.89 - $50.99	79,092	1.9	$	39.17
51.00 - 60.99	46,472	1.6	52.42
61.00 - 74.65	13,197	0.4	70.59
$38.89 - $74.65	138,761	1.6	$	46.59

A summary of the status of all RSU MSPs granted to employees and non-employee directors as of December 31, 2016, 2015, and 2014 and changes during the year are presented in the table below:



	December 31,
	2016				2015				2014
	RSUs		Weighted Average Exercise Price		RSUs		Weighted Average Exercise Price		RSUs		Weighted Average Exercise Price
RSU MSPs outstanding at beginning of period	78,732		$	37.46	69,293		$	35.81	62,896		$	25.67
Granted	20,130		26.06		38,965		34.73		32,752		47.95
Settled	(27,375	)	29.94		(22,403	)	27.87		(23,258	)	25.94
Canceled	(3,563	)	35.35		(7,123	)	36.65		(3,097	)	32.35
RSU MSPs outstanding at end of period	67,924		$	36.50	78,732		$	37.46	69,293		$	35.81

The following table summarizes information about RSU MSPs outstanding at December 31, 2016:



	RSU MSPs Outstanding
Range of Grant Prices	RSUs	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
$26.06 - 33.99	16,727	2.1	$	26.06
34.00 - 45.99	31,154	1.1	34.73
46.00 - 47.95	20,043	0.2	47.95
$26.06 - $47.95	67,924	1.1	$	36.50



2013 CEO Option Award:
	Stock Price Target	Cumulative Vested Portion of Stock Options (in Shares)
	$50.00	50,000
	$60.00	100,000
	$70.00	150,000
	$80.00	200,000



2013 CFO and 2014 CEO Option Awards:
	Stock Price Target	Cumulative Vested Portion of Stock Options (in Shares)
	$87.50	25,000
	$100.00	50,000
	$112.50	75,000
	$125.00	100,000