Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Stock-Based Compensation

Summary of the stock-based compensation expense by instrument awarded

	Quarter ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
	(in thousands)
Stock options	$	593	$	—	$	791	$	—
Performance-based RSUs	464		—		746		—
Time-based RSUs	330		—		395		—
	$	1,387	$	—	$	1,932	$	—

Summary of assumption used utilizing the options pricing model

	Quarter ended September 30, 2013	Nine months  ended September 30, 2013
Expected volatility (1)	—	45%
Expected dividends	—	0%
Risk-free rate	—	0.03% - 2.30%
Annualized grantee forfeiture rate	—	6.2% - 19.2%

(1) Based on historical volatilities of comparable companies’ common stock.

Summary of Stock Option award activity and compensation expense

	Quarter ended September 30, 2013		Nine months ended September 30, 2013
Number of Stock Options
Outstanding at beginning of period	423,407		—
Granted	—		423,407
Exercised	—		—
Expired or canceled	253		253
Outstanding at end of period	423,154		423,154
Weighted-average exercise price:
Outstanding at beginning of period	$	21.03	$	—
Granted	—		21.03
Exercised	—		—
Expired or canceled	21.03		21.03
Outstanding at end of period	$	21.03	$	21.03
Exercisable at end of period	—		—
Available for future grant	—		—
Weighted-average remaining contractual term (in years):
Outstanding at end of period	9.7		—
Exercisable at end of period	—		—
Aggregate intrinsic value:
Outstanding at end of period	$	—	$	—
Exercisable at end of period	$	—	$	—

Schedule of inputs for grants

Input	Quarter ended  September 30, 2013	Nine months endedSeptember 30, 2013
Expected volatility	—	45%
Expected dividends	—	0%
Risk-free interest rate	—	0.3%-2.3%
Annualized grantee forfeiture rate	—	6.2%-19.2%

Performance-based RSUs

Stock-Based Compensation

Summary of RSU activity

	Quarter ended September 30, 2013		Nine months ended September 30, 2013
Number of units
Outstanding at beginning of period	499,364		—
Granted	—		499,364
Vested	—		—
Expired or canceled	253		253
Outstanding at end of period	499,111		499,111
Weighted-average grant date fair value:
Outstanding at beginning of period	$	11.58	$	—
Granted	$	—	$	11.58
Vested	$	—	$	—
Expired or canceled	$	11.58	$	11.58
Outstanding at end of period	$	11.58	$	11.58
Compensation expense recorded during the period (in thousands)	$	464	$	746
Period end:
Unamortized compensation cost (in thousands)	$	3,816

Time-based RSUs

Stock-Based Compensation

Summary of RSU activity

	Quarter ended September 30, 2013		Nine months ended September 30, 2013
Number of units
Outstanding at beginning of period	70,826		—
Granted	27,407		98,233
Vested	—		—
Expired or canceled	126		126
Outstanding at end of period	98,107		98,107
Weighted-average grant date fair value:
Outstanding at beginning of period	$	17.51	$	—
Granted	$	19.37	$	18.03
Vested	$	—	$	—
Expired or canceled	$	17.51	$	17.51
Outstanding at end of period	$	18.03	$	18.03
Compensation expense recorded during the period (in thousands)	$	330	$	395
Period end:
Unamortized compensation cost (in thousands)	$	979