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Share-Based Payments (Tables)
9 Months Ended
Sep. 30, 2015
Share-Based Payments  
Summary of share-based compensation expense (income)

 

The following table summarizes share-based compensation expense (income) recorded in the three and nine months ended September 30, 2015 and 2014 (in thousands):

 

Share-based compensation expense (income)

 

For the Three
Months
Ended
September 30, 2015

 

For the Three
Months
Ended
September 30, 2014

 

For the Nine
Months
Ended
September 30, 2015

 

For the Nine
Months
Ended
September 30, 2014

 

Outstanding employee and non-employee stock option grants

 

$

2,769

 

$

2,505

 

$

7,785

 

$

7,257

 

Outstanding restricted stock awards

 

1,691

 

780

 

(1,282

)

2,935

 

Employee stock purchase plan

 

97

 

114

 

284

 

323

 

 

 

 

 

 

 

 

 

 

 

Total compensation cost

 

$

4,557

 

$

3,399

 

$

6,787

 

$

10,515

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of weighted average assumptions

 

 

 

 

Weighted Average Assumptions

 

 

 

Stock Options

 

Employee Stock Purchase Plan

 

 

 

For the Three
Months
Ended
September 30, 2015

 

For the Three
Months
Ended
September 30, 2014

 

For the Three
Months
Ended
September 30, 2015

 

For the Three
Months
Ended
September 30, 2014

 

Expected volatility

 

53 

%

61 

%

58 

%

63 

%

Expected dividends

 

 

 

 

 

Expected life (years)

 

6.2 

 

6.3 

 

0.5 

 

0.5 

 

Risk-free interest rate

 

1.9 

%

2.2 

%

0.1 

%

0.1 

%

 

 

 

Weighted Average Assumptions

 

 

 

Stock Options

 

Employee Stock Purchase Plan

 

 

 

For the Nine
Months
Ended
September 30, 2015

 

For the Nine
Months
Ended
September 30, 2014

 

For the Nine
Months
Ended
September 30, 2015

 

For the Nine
Months
Ended
September 30, 2014

 

Expected volatility

 

60 

%

66 

%

59 

%

63 

%

Expected dividends

 

 

 

 

 

Expected life (years)

 

6.1 

 

6.1 

 

0.5 

 

0.5 

 

Risk-free interest rate

 

1.8 

%

2.2 

%

0.1 

%

0.1 

%

 

Schedule of nonvested shares of restricted stock

 

A summary of the status of nonvested shares of restricted stock as of September 30, 2015 and the changes during the nine months then ended are presented below (in thousands, except fair values):

 

 

 

Number of
Shares

 

Weighted
Average
Grant Date
Fair Value

 

Nonvested at January 1, 2015

 

1,174

 

$

15.15

 

Granted

 

255

 

13.19

 

Vested

 

(484

)

15.11

 

Forfeited

 

(149

)

14.56

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonvested at September 30, 2015

 

796

 

$

14.66

 

 

 

 

 

 

 

 

 

Summarized information about time-based or performance-based vesting schedules

 

Nonvested shares of restricted stock that have time-based or both performance-based and time-based vesting conditions as of September 30, 2015 are summarized below (in thousands):

 

Vesting Schedule

 

Nonvested
Shares

 

Time-based

 

483 

 

Performance-based and time-based

 

313 

 

 

 

 

 

 

 

 

 

Nonvested at September 30, 2015

 

796