XML 56 R39.htm IDEA: XBRL DOCUMENT v3.6.0.2
STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Schedule of Status of Options Granted
A summary of the status of options previously granted as of December 31, 2016, 2015, and 2014, and the changes during the periods then ended is presented below:
 
Year Ended December 31, 2016
 
Options
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
Options outstanding at January 1
2,673,512

 
$
7.46

 
$
5,485,248

Exercised
(641,710
)
 
$
4.37

 
$
2,209,260

Forfeited
(252,189
)
 
$
8.20

 
—

Options outstanding at December 31
1,779,613

 
$
8.46

 
$
50,869

Exercisable at December 31
1,552,642

 
$
8.52

 
$
50,869

Options expected to vest at December 31
225,127

 
$
8.06

 
 
 
Year Ended December 31, 2015
 
Options
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
Options outstanding at January 1
4,667,738

 
$
6.14

 
$
19,357,512

Exercised
(1,802,913
)
 
$
3.92

 
$
9,162,469

Forfeited
(191,313
)
 
$
10.76

 
—

Options outstanding at December 31
2,673,512

 
$
7.46

 
$
5,485,248

Exercisable at December 31
2,037,318

 
$
7.19

 
$
4,832,280

 
Year Ended December 31, 2014
 
Options
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
Options outstanding at January 1
7,536,601

 
$
5.53

 
$
17,493,907

Granted
659,500

 
$
7.32

 
—

Exercised
(3,126,522
)
 
$
4.51

 
$
13,035,677

Forfeited
(401,841
)
 
$
9.33

 
—

Options outstanding at December 31
4,667,738

 
$
6.14

 
$
19,357,512

Exercisable at December 31
3,513,920

 
$
5.43

 
$
17,239,884
Schedule of Exercise Price Range
he following table summarizes information about options outstanding as of December 31, 2016:
 
Options Outstanding
 
Options
Exercisable
Exercise Price
Number
Outstanding
 
Weighted-
Average
Remaining
Contractual
Life
 
Number
Exercisable
 
 
 
(in years)
 
 
$  6.00 - $  6.99
426,306

 
0.1

 
426,306

$  7.00 - $  7.99
421,969

 
3.8

 
284,874

$  8.00 - $  8.99
214,500

 
2.5

 
200,250

$  9.00 - $  9.99
480,000

 
3.3

 
420,624

$ 10.00 - $ 14.50
236,838

 
2.3

 
220,588

 
1,779,613

 
 
 
1,552,642
Performance Stock Units [Member]  
Equity [Abstract]  
Schedule of Nonvested Share Activity
A summary of the status of PSUs as of December 31, 2016 and 2015 and the changes during the periods then ended is presented below:
 
Year Ended December 31,
 
2016
 
2015
 
Shares
 
Weighted- Average Fair Value at Grant Date
 
Shares
 
Weighted- Average Fair Value at Grant Date
Non-vested at beginning of the period
415,000

 
$
9.25

 
—

 
$
—

Granted
417,500

 
$
7.24

 
415,000

 
$
9.25

Forfeited
(98,751
)
 
$
8.17

 
—

 
$
—

Vested
(153,745
)
 
$
9.13

 
—

 
$
—

Non-vested at end of period
580,004

 
$
8.02

 
415,000

 
$
9.25
Schedule of Valuation Assumptions
The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions:
 
 
Year Ended December 31,
 
 
2016
 
2015
Weighted average fair value of PSUs granted
 
$
7.24

 
$
9.25

Dividend yield
 
—
%
 
—
%
Risk free interest rate
 
0.9
%
 
1.1
%
Expected volatility
 
33.5
%
 
33.6
%
Restricted Stock Units (RSUs) [Member]  
Equity [Abstract]  
Schedule of Nonvested Share Activity
A summary of the status of restricted stock awards as of December 31, 2016, 2015, and 2014 and the changes during the periods then ended is presented below:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
Shares
 
Weighted- Average Fair Value at Grant Date
 
Shares
 
Weighted- Average Fair Value at Grant Date
 
Shares
 
Weighted- Average Fair Value at Grant Date
Non-vested at beginning of the period
2,122,225

 
$
8.54

 
1,786,581

 
$
8.45

 
1,560,375

 
$
9.81

Granted
1,302,375

 
$
7.33

 
1,261,600

 
$
8.83

 
1,114,700

 
$
7.39

Forfeited
(327,750
)
 
$
8.17

 
(245,312
)
 
$
8.34

 
(288,450
)
 
$
8.72

Vested
(870,475
)
 
$
8.58

 
(680,644
)
 
$
8.91

 
(600,044
)
 
$
9.87

Non-vested at end of period
2,226,375

 
$
7.87

 
2,122,225

 
$
8.54

 
1,786,581

 
$
8.45