XML 69 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Awards Granted Under the 2007 Plan to Non-Employee Directors and Management Team
The following awards were granted under the 2007 Plan to the Company’s non-employee Directors and management team:
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
    Stock appreciation rights
324,000

 
344,500

 
261,500

    Restricted stock
340,509

 
337,220

 
216,538

Summary of Share Option Plans Activities
The following table summarizes the Company’s activities with respect to all of its share option plans for the year ended 2013:
 
 
Shares
 
Option Price
 
Weighted
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Life (in years)
 
Aggregate
Intrinsic
Value
Share options outstanding at beginning of year
1,922,756

 
$4.16-$22.50
 
$9.67
 
 
 
 
Granted
324,000

 
$4.92-$5.61
 
$5.25
 
 
 
 
Exercised
(14,000
)
 
$4.35
 
$4.35
 
 
 
 
Forfeited/expired
(686,457
)
 
$4.35-$22.50
 
$9.36
 
 
 
 
Share options outstanding at end of year
1,546,299

 
$4.16-$22.50
 
$8.93
 
3.28
 
$
3,770,958

Share options exercisable at end of year
1,006,674

 
$4.16-$22.50
 
$10.79
 
1.99
 
$
1,329,153

Share options unvested at end of year
539,625

 
$4.16-$8.09
 
$5.46
 
5.69
 
$
2,441,805

Stock Options and Stock Appreciation Rights Granted and Exercised
During the years ended December 31, 2013, 2012 and 2011, the Company issued options and stock appreciation rights at market price.
 
Year Ended December 31,
 
2013
 
2012
 
2011
Share option grants
324,000

 
344,500

 
261,500

Weighted average grant date fair value of options granted during the period
$
1.77

 
$
1.65

 
$
2.63

Total intrinsic value of options exercised
$
12,465

 
$

 
$

Assumptions Used to Estimate Fair Value of Options Granted
The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model:
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Expected dividend yield
%
 
%
 
%
Expected volatility
48.00
%
 
47.00
%
 
42.00
%
Risk-free interest rate
0.79
%
 
0.58
%
 
1.33
%
Expected life
4.2 years

 
4.3 years

 
4.3 years

Summary of Restricted Stock Award Activity
The following table summarizes restricted stock award activity for the year ended December 31, 2013:
 
 
Number of
Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested restricted stock awards, January 1, 2013
661,648

 
$
6.08

Granted
340,509

 
$
4.64

Vested
(238,296
)
 
$
6.86

Forfeited
(211,630
)
 
$
4.73

Unvested restricted stock awards, December 31, 2013
552,231

 
$
5.37