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Stock Options (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Stock Options [Abstract]    
Schedule of weighted-average assumptions Black-Scholes option-pricing model

 

 

For the
Three Months Ended
 
March 31,

 

 

2017

 

2016

Risk-free interest rate

 

 

2.27

%

 

 

1.47

%

Expected life of option grants

 

 

7 years

 

 

 

7 years

 

Expected volatility of underlying stock

 

 

47.34

%

 

 

49.02

%

Dividends assumption

 

$

 

 

$

 

 

 

2016

 

2015

Risk-free interest rate

 

1.35–1.47%

 

 

1.73–2.27%

 

Expected life of option grants

 

7 years

 

 

7 years

 

Expected volatility of underlying stock

 

47.47%–49.02%

 

 

39.4%–51.45%

 

Dividends assumption

 

$ —

 

 

$ —

 

Schedule of changes in options outstanding  

 

 

Number of
 Options

 

Weighted Average
Exercise Price

 

Aggregate Intrinsic Value
(in thousands)

Outstanding at January 1, 2015

 

183,969

 

 

$

39.30

 

$

14,820

 

Granted

 

177,763

 

 

 

25.65

 

 

 

Exercised

 

(188

)

 

 

 

 

 

Expired

 

(8,694

)

 

 

 

 

 

Forfeitures

 

(35,980

)

 

 

 

 

 

Outstanding at December 31, 2015

 

316,870

 

 

$

30.00

 

$

1,815

 

Granted

 

105,460

 

 

 

7.64

 

 

 

Exercised

 

 

 

 

 

 

 

Expired

 

(28,500

)

 

 

 

 

 

Forfeitures

 

(26,971

)

 

 

 

 

 

Outstanding at December 31, 2016

 

366,859

 

 

$

24.87

 

$

(116,726

)

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2015

 

108,536

 

 

$

28.20

 

$

1,815

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2016

 

158,120

 

 

$

29.99

 

$

(62,454

)