Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

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

Summary of Outstanding and Non-vested Options Activity

The following table summarizes the activity related to our outstanding and non-vested stock options and restricted stock for the period ended December 31, 2015:

	Stock Options				Restricted Stock
	Outstanding				Non-Vested
	Shares		Weighted Average Exercise Price Per Share		Shares		Weighted Average Fair Value Per Share
December 31, 2014	177,497		$	10.99	70,061		$	11.54
Granted	212,500		9.75		84,101		9.75
Vested	—		—		(71,872	)	10.79
Forfeited	(18,383	)	11.61		—		—
Expired	(41,009	)	$	10.36	—		$	—
December 31, 2015	330,605		$	10.24	82,290		$	10.54

Summary of Exercisable Stock Options

The following table lists certain information related to stock options awarded under the LTIP which had vested as of December 31, 2015:

	Vested and Exercisable		Expected to Vest
Number of stock options	63,610		329,685
Weighted-average exercise price per share	$	10.69	$	10.23
Aggregate intrinsic value (in thousands)	$	62	$	474
Weighted-average remaining contractual term (in years)	1.7		3.6

Schedule of Stock Option Information

We estimate the fair value of stock option awards at each reporting date using a Black-Scholes-Merton option-pricing model. For the years ended December 31, 2015 and 2014, we applied the following weighted-average assumptions:

	2015		2014
Expected term in years	1.8		1.3
Expected volatility	45	%	48	%
Expected dividends	—	%	—	%
Risk-free interest rates	0.91	%	0.45	%

Schedule of Nonvested Share Activity

The following tables present certain information related to compensation cost:

	Year Ended December 31,
	2015		2014		2013
Compensation cost included in operating expense (in thousands)
Stock options	$	245	$	61	$	338
Restricted stock	961		394		831
Total	$	1,206	$	455	$	1,169

	December 31, 2015
Unrecognized compensation cost for non-vested awards (in thousands)
Stock options	$	1,087
Restricted stock	964
Total	$	2,051
Weighted-average years to be recognized
Stock options	1.3
Restricted stock	0.6