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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Schedule of Weighted-Average Assumptions Used in BSM Model to Calculate Fair Value of Options

The following table sets forth the key weighted-average assumptions used in the BSM Model to calculate the fair value of options:

 

 

 

SUCCESSOR

 

 

 

PREDECESSOR

 

 

Year Ended

 

 

Year Ended

 

 

Period Ended

 

 

 

Period Ended

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

March 31,

 

 

2016

 

 

2015

 

 

2014

 

 

 

2014

Expected holding period - years

 

3.6

 

 

4.2

 

 

5.4

 

 

 

N/A

Expected volatility

 

 

30.2%

 

 

 

36.4%

 

 

 

41.8%

 

 

 

N/A

Risk-free interest rate

 

 

1.0%

 

 

 

1.2%

 

 

 

1.7%

 

 

 

N/A

Expected dividend yield

 

 

0.0%

 

 

 

0.0%

 

 

 

0.0%

 

 

 

N/A

 

Schedule of Grant Date Fair Value and Stock-based Compensation Expense Allocated

The following table summarizes the grant date fair values of stock options and restricted shares issued during the period as well as the allocation of stock-based compensation expense to Direct costs, excluding depreciation and amortization, and Selling, general and administrative reported in the consolidated statements of operations:

 

 

 

SUCCESSOR

 

 

 

PREDECESSOR

 

 

 

Year Ended

 

 

Year Ended

 

 

Period Ended

 

 

 

Period Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

2014

 

Weighted average, grant date fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

 

$

6.91

 

 

$

3.81

 

 

$

4.33

 

 

 

N/A

 

Restricted shares (RSAs and RSUs)

 

$

15.08

 

 

$

12.53

 

 

$

10.80

 

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation expense

   allocated to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct costs, excluding depreciation

   and amortization

 

$

5,555

 

 

$

9,243

 

 

$

4,399

 

 

 

$

5,422

 

Selling, general, and administrative

 

 

4,260

 

 

 

13,081

 

 

 

1,024

 

 

 

 

1,918

 

Total stock-based compensation expense

 

$

9,815

 

 

$

22,324

 

 

$

5,423

 

 

 

$

7,340

 

 

Schedule of Successor and Predecessor's Stock Option Activity

The following table sets forth the Successor’s and Predecessor’s stock option activity:

 

 

 

SUCCESSOR

 

 

 

PREDECESSOR

 

 

 

Year Ended

 

 

Year Ended

 

 

Period Ended

 

 

 

Period Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

2014

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Weighted Average

 

 

 

Options

 

 

Exercise Price

 

 

Shares

 

 

Exercise Price

 

 

Shares

 

 

Exercise Price

 

 

 

Shares

 

 

Exercise Price

 

Outstanding -

   beginning of

   Period

 

 

1,794,709

 

 

$

15.42

 

 

 

1,091,048

 

 

$

14.40

 

 

 

-

 

 

$

-

 

 

 

 

1,438,800

 

 

$

11.03

 

Granted

 

 

683,001

 

 

$

22.80

 

 

 

889,849

 

 

$

16.67

 

 

 

1,131,895

 

 

$

14.40

 

 

 

 

-

 

 

$

-

 

Exercised

 

 

(36,980

)

 

$

-

 

 

 

(17,404

)

 

$

-

 

 

 

-

 

 

$

-

 

 

 

 

(1,388,000

)

 

$

10.97

 

Forfeited

 

 

(90,564

)

 

$

15.85

 

 

 

(168,784

)

 

$

15.53

 

 

 

(40,847

)

 

$

14.40

 

 

 

 

(32,200

)

 

$

12.53

 

Expired

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

 

 

 

(18,600

)

 

$

11.27

 

Outstanding - end of

   period

 

 

2,350,166

 

 

$

17.57

 

 

 

1,794,709

 

 

$

15.42

 

 

 

1,091,048

 

 

$

14.40

 

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable - end of

   period

 

 

647,343

 

 

$

15.22

 

 

 

242,777

 

 

$

14.40

 

 

 

-

 

 

$

-

 

 

 

 

-

 

 

$

-

 

 

Schedule of Successor and Predecessor's Restricted Share Activity

The following table sets forth the Successor and Predecessor’s Restricted Share activity:

 

 

 

SUCCESSOR

 

 

 

PREDECESSOR

 

 

 

Year Ended

 

 

Year Ended

 

 

Period Ended

 

 

 

Period Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

2014

 

 

 

Shares

 

 

Shares

 

 

Shares

 

 

 

Shares

 

Outstanding and unvested - beginning of

   period

 

 

90,697

 

 

 

407,171

 

 

 

-

 

 

 

 

176,643

 

Granted

 

 

11,111

 

 

 

1,253,924

 

 

 

707,721

 

 

 

 

-

 

Vested

 

 

(41,069

)

 

 

(1,530,547

)

 

 

(283,042

)

 

 

 

(172,492

)

Forfeited

 

 

(1,481

)

 

 

(39,851

)

 

 

(17,508

)

 

 

 

(4,151

)

Outstanding and unvested - end of period

 

 

59,258

 

 

 

90,697

 

 

 

407,171

 

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative vested shares - end of period

 

 

1,854,658

 

 

 

1,813,589

 

 

 

283,042

 

 

 

 

263,490

 

 

Schedule of Stock Options Expected To Vest, Stock Options Exercisable, and Unvested Restricted Share Awards Expected To Vest

The following table summarizes information about stock options expected to vest, stock options exercisable, and unvested restricted share awards expected to vest at December 31, 2016:

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

Exercise

 

 

Stock

 

 

Restricted

 

 

Remaining

 

Issued in Successor Year Ended

 

Price

 

 

Options

 

 

Shares

 

 

Life (Years)

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of stock options expected

   to vest

 

$

17.51

 

 

 

2,304,229

 

 

 

-

 

 

 

5.4

 

Number of Restricted Shares expected

   to vest

 

 

 

 

 

 

-

 

 

 

59,258

 

 

 

 

 

Total expected to vest - December 31, 2016

 

 

 

 

 

 

2,304,229

 

 

 

59,258

 

 

 

 

 

Total stock options exercisable -

   December 31, 2016

 

$

15.22

 

 

 

647,343

 

 

 

 

 

 

 

4.8

 

Unrecognized compensation cost -

   December 31, 2016 (in thousands)

 

 

 

 

 

$

7,909

 

 

$

538

 

 

 

 

 

Weighted average years over which

   unrecognized compensation cost will be

   recognized

 

 

 

 

 

 

2.4

 

 

 

2.0

 

 

 

 

 

 

Schedule of Aggregate Intrinsic Value of Stock Options Exercised, Fair Values of Awards Vested, and Share Based Liabilities Settled

The following table sets forth the aggregate intrinsic value of stock options exercised, the fair values of awards vested, and share based liabilities settled during the respective periods (in thousands):

 

 

 

SUCCESSOR

 

 

 

PREDECESSOR

 

 

 

Year Ended

 

 

Year Ended

 

 

Period Ended

 

 

 

Period Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

2014

 

Total intrinsic value of stock options

   exercised

 

$

403

 

 

$

(36

)

 

$

-

 

 

 

$

25,378

 

Total grant-date fair value of stock

   options vested

 

$

1,384

 

 

$

1,168

 

 

$

-

 

 

 

$

3,446

 

Total grant-date fair value of

   restricted shares vested

 

$

614

 

 

$

18,284

 

 

$

3,057

 

 

 

$

1,466

 

Total settlement date fair value of

   restricted shares vested

 

$

1,236

 

 

$

21,134

 

 

$

3,057

 

 

 

N/A

 

Total share-based liabilities settled

 

$

76

 

 

$

16,858

 

 

$

3,057

 

 

 

N/A