Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

A summary of share option activity under the 2011 Plan as of June 30, 2012 and changes during the six months ended June 30, 2012 are presented below:



	Number of Shares		Weighted- Average Exercise Price ($)	Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value ($000)
Outstanding at December 31, 2011	312,000		9.33	8.9	1,946
Granted	—		—
Exercised	(39,125	)	7.80
Forfeited or expired	(3,625	)	7.80
Outstanding at June 30, 2012	269,250		9.58	8.4	2,661
Exercisable at June 30, 2012	55,125		8.43	8.1	608
Vested or expected to vest at June 30, 2012	256,204		9.54	8.4	2,541

Summary of the status of the Company's restricted stock shares

A summary of the status of the Company’s restricted stock shares (restricted stock awards and restricted stock unit awards) as of June 30, 2012, and changes during the six months ended June 30, 2012:



	Number of Shares		Weighted-Average Grant Date Fair Value ($)
Outstanding at December 31, 2011	271,999		1.43
Granted	298,692		20.29
Vested	(164,515	)	3.04
Forfeited	(15,125	)	3.79
Outstanding at June 30, 2012	391,051		15.07

Multiple input variables of performance share awards

The grant date fair value of the performance share awards was determined through the use of a Monte Carlo simulation model, which utilizes multiple input variables that determine the probability of satisfying the market condition requirements applicable to each award as follows:



	Weighted-Average at Grant Date
Expected volatility factor	0.39
Risk free interest rate	0.45	%
Expected term (in years)	2.75
Expected dividend yield	—	%

Performance share award activity

The following table summarizes the Company’s performance share awards for the six months ended June 30, 2012:



	Number of Awards	Weighted-Average Fair Value at Grant Date
Outstanding at December 31, 2011	—	$	—
Granted	262,500	32.26
Vested	—	—
Forfeited	—	—
Outstanding at June 30, 2012	262,500	32.26