XML 87 R33.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity-Based Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted-average fair values of the Company's stock options granted
The weighted average fair values of the Company’s stock options granted during the first nine months of 2013 and 2012 calculated using the Black-Scholes option pricing model and other assumptions were as follows: 
 
Nine Months Ended
 
September 30, 2013
 
September 30, 2012
Weighted average fair value of options granted
$
10.74

 
$
8.46

Risk-free interest rate
0.29% - 0.54%

 
0.77% - 0.95%

Expected volatility
76% - 79%

 
64% - 65%

Contractual life
7 years

 
7 years

Expected life
3.4 - 5.4 years

 
3.4 - 5.4 years

Expected dividend yield
—
%
 
—
%
Summary of stock option activity
A summary of Gentiva stock option activity as of September 30, 2013 and changes during the nine months then ended is presented below:
 
Number of
Options
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Balance as of December 31, 2012
3,752,418

 
$
15.99

 
 
 
 
Granted
642,700

 
10.74

 
 
 
 
Exercised
(72,454
)
 
5.36

 
 
 
 
Cancelled
(105,909
)
 
20.17

 
 
 
 
Balance as of September 30, 2013
4,216,755

 
$
15.27

 
4.5
 
$
8,255,665

Exercisable options
2,586,969

 
$
19.16

 
3.9
 
$
2,044,688

Summary of restricted stock activity
A summary of Gentiva restricted stock activity as of September 30, 2013 is presented below:
 
Number of
Restricted
Shares
 
Weighted-
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
Balance as of December 31, 2012
364,650

 
$
25.25

 
 
Granted
338,300

 
11.37

 
 
Exercised
(39,750
)
 
26.06

 
 
Cancelled
(10,000
)
 
16.58

 
 
Balance as of September 30, 2013
653,200

 
$
18.15

 
$
7,864,528

Performance Shares [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of performance share unit
A summary of Gentiva's performance based share award activity by grant year as of September 30, 2013 is presented below:
 
2010
 
2011
 
Number of
Performance
Share Units
 
Weighted-
Average
Exercise
Price
Service period to vest:
3 years
 
3 years
 
 
 
 
Performance range of target:
0% - 150%
 
0% - 200%
 
 
 
 
Performance measured on:
EPS
 
EPS
 
 
 
 
Performance measurement period:
1/3 based on 2010 results
 
90% based on 2011 results
 
 
 
 
 
1/3 based on 2011 results
 
10% based on 2013 results
 
 
 
 
 
1/3 based on 2012 results
 
 
 
 
 
 
Performance target achieved:
2010 - 150%
 
2011 - 200%
 
 
 
 
 
2011 - 150%
 
2013 - 0%
 
 
 
 
 
2012 - 0%
 
 
 
 
 
 
Performance share units:
 
 
 
 
 
 
 
Balance as of December 31, 2012
33,700

 
166,750

 
200,450

 
$
26.31

Forfeited
—

 
(1,800
)
 
(1,800
)
 
26.67

Change in performance achievement expectations
—

 
(6,650
)
 
(6,650
)
 
26.58

Issued
(33,700
)
 
—

 
(33,700
)
 
25.61

Balance as of September 30, 2013
—

 
158,300

 
158,300

 
$
26.58

Performance Cash Award [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of performance share unit
A summary of Gentiva's performance based cash award activity by grant year as of September 30, 2013 is presented below:
 
2012
 
2013
Service period to vest:
3 years
 
3 years
Performance range of target:
0% - 200%
 
0% - 240%
Performance measured on:
EPS
 
EPS
Performance measurement period:
1/2 based on 2012 results
 
60% based on 2013 results
 
1/2 based on 2014 results
 
40% based on 2015 results
Performance target achieved:
2012 - 85%
 
 
Performance cash:
 
 
 
Balance as of December 31, 2012
$
1,293,687

 
$
—

Earned
910,680

 
754,374

Issued
—

 
—

Balance as of September 30, 2013
$
2,204,367

 
$
754,374