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Stock-Based Employee Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted Average Assumptions used to Determine Fair Values of Options Granted
The table below summarizes the weighted average assumptions used to determine the fair values of the options granted during the following periods:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Assumptions with respect to:
2016
 
2015(1)
 
2016
 
2015
Expected volatility
37
%
 
—
%
 
38
%
 
44
%
Risk-free interest rate
1.34
%
 
—
%
 
1.60
%
 
1.82
%
Expected dividends
—
%
 
—
%
 
—
%
 
—
%
Expected term (years)
6.2

 
—

 
6.3

 
6.0

Weighted average fair value of options granted during period
$
2.67

 
$
—

 
$
2.81

 
$
3.13


 
(1)    No stock options were granted during the three months ended June 30, 2015.
Stock Option Activity under Plans
The following table summarizes the stock option activity under the Company’s equity incentive plans during the six months ended June 30, 2016 and 2015, respectively.
 
Number of
Shares
 
Weighted-
Average
Exercise
Price
Per Share
 
Number of
Shares
 
Weighted-
Average
Exercise
Price
Per Share
 
2016
 
2015
Outstanding – January 1,
838,696

 
$
6.20

 
1,257,390

 
$
6.51

Granted
379,551

 
6.92

 
112,828

 
7.09

Exercised
(83,158
)
 
4.37

 
(226,564
)
 
5.54

Forfeited/Canceled
(57,737
)
 
8.88

 
(134,553
)
 
11.56

Outstanding – June 30,
1,077,352

 
6.45

 
1,009,101

 
6.12

Options Exercisable – June 30,
576,670

 
$
6.13

 
529,284

 
$
5.80

Options Vested – June 30,
576,670

 
$
6.07

 
529,284

 
$
5.80
Additional Information Regarding Vested and Unvested Options Outstanding
The following table provides additional information regarding the vested and unvested options that were outstanding at June 30, 2016.
Options Outstanding as of June 30, 2016
 
Options Exercisable
as of June 30, 2016(1)
 
Vested
 
Unvested
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Shares
 
Weighted
Average
Exercise Price
$2.97 – $4.99
95,503

 
1,000

 
$
3.62

 
4.31
 
95,503

 
$
3.61

$5.00 – $6.99
442,794

 
338,855

 
6.48

 
7.86
 
442,794

 
6.32

$7.00– $10.00
24,573

 
160,827

 
7.10

 
9.23
 
24,573

 
7.10

$10.01-$17.31
13,800

 
—

 
15.91

 
0.38
 
13,800

 
15.91

 
576,670

 
500,682

 
$
6.45

 
7.68
 
576,670

 
$
6.13

 
(1)
The weighted average remaining contractual life of the options that were exercisable as of June 30, 2016 was 6.39 years.
Summary of Status of Unvested Options and Changes in Number of Shares Subject to and in Weighted Average Grant Date Fair Values of Unvested Options
A summary of the status of the unvested options outstanding as of June 30, 2016, and changes in the weighted average grant date fair values of the unvested options during the six months ended June 30, 2016, are set forth in the following table.
 
For the six months ended June 30,
 
2016
 
2015
 
Number of
Shares Subject
to Options
 
Weighted
Average
Grant Date
Fair Value
 
Number of
Shares Subject
to Options
 
Weighted
Average
Grant Date
Fair Value
Unvested at the beginning of the period
215,926

 
$
2.93

 
468,504

 
$
2.68

Granted
379,551

 
2.76

 
112,828

 
3.13

Vested
(52,738
)
 
2.93

 
(74,301
)
 
2.57

Forfeited/Canceled
(42,057
)
 
2.90

 
(27,214
)
 
2.26

Unvested at the end of the period
500,682

 
2.80

 
479,817

 
2.86
Schedule of Restricted Stock Activity
The following table summarizes the activity related to restricted stock granted, vested and forfeited under our equity incentive plans during the six months ended June 30, 2016 and 2015.
 
For the six months ended June 30,
 
2016
 
2015
 
Number of Shares
 
Average Grant Date Fair Value
 
Number of Shares
 
Average Grant Date Fair Value
Outstanding at the beginning of the period
129,283

 
$
6.75

 
141,254

 
$
6.29

Granted
113,975

 
6.82

 
98,829

 
7.10

Vested
(47,764
)
 
6.83

 
(15,848
)
 
6.43

Forfeited
(30,585
)
 
6.63

 
(3,638
)
 
6.18

Outstanding at the end of the period
164,909

 
$
6.80

 
220,597

 
$
6.63
Compensation Expense of Non-Vested Stock Options Outstanding
We expect that the compensation expense that will be recognized during the periods presented below in respect of stock options and restricted stock outstanding at June 30, 2016, will be as follows:
 
Estimated Stock Based Compensation Expense Stock Options
 
Estimated Stock Based Compensation Expense Restricted Stock
 
Estimated Stock Based Compensation Expense Total
(Dollars in thousands)
 
 
 
 
 
For the years ending December 31,
 
 
 
 
 
Remainder of 2016
$
235

 
$
258

 
$
493

2017
391

 
292

 
683

2018
306

 
147

 
453

2019
63

 
34

 
97

2020 and beyond
28

 
16

 
44

 
$
1,023

 
$
747

 
$
1,770