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Stock Options, Employee Stock Purchase Plan and Restricted Stock (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
The Company uses the single-award method for allocating compensation cost related to stock options to each period.  The following table sets forth the components of the Company’s share-based compensation expense for the three month periods ended March 31, 2017 and 2016 (in thousands):
 
Three Months Ended
March 31,
 
2017
 
2016
Stock options
$
3,314

 
$
2,049

Employee stock purchase plan
262

 
—

Restricted stock units
1,133

 
872

Total stock-based compensation expense
$
4,709

 
$
2,921
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
From time to time, the Company grants stock option awards to certain employees and directors. The weighted-average assumptions used in estimating the grant date fair value of the stock options granted under the 2014 Plan during the three -month periods ended March 31, 2017 and 2016, respectively, along with the weighted-average grant date fair values, are set forth in the table below:
 
Three Months Ended
March 31,
 
2017
 
2016
Expected volatility
50
%
 
47
%
Expected life (in years)
4.8

 
4.8

Risk-free interest rate
1.75
%
 
1.26
%
Dividend yield
—

 
—

Fair value per stock option
$
9.25

 
$
9.95

Forfeiture rate
8
%
 
8
%
Schedule of Share-based Compensation, Activity
The table below sets forth a summary of stock option activity within the 2014 Plan and the 2003 Plan for the three month period ended March 31, 2017: 
 
Number of
Options
(in thousands)
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic Value
(in thousands) (1)
Outstanding at December 31, 2016
4,766

 
$
27.27

 
5.03
 
$
5,714

Granted
66

 
21.28

 
 
 
 
Exercised
(88
)
 
12.68

 
 
 
 
Forfeited
(38
)
 
31.83

 
 
 
 
Outstanding at March 31, 2017
4,706

 
$
27.43

 
4.89
 
$
7,034

Exercisable at March 31, 2017
1,688

 
$
25.09

 
3.46
 
$
5,800


(1) The Aggregate Intrinsic Value for stock options outstanding and exercisable is defined as the difference between the market value of the Company’s common stock as of the date indicated and the exercise price of the stock options. Stock options for which the exercise price exceeded the market price have been omitted. Fluctuations in the intrinsic value of both outstanding and exercisable options may result from changes in underlying stock price and the timing and volume of option grants, exercises and forfeitures.
Schedule of Nonvested Restricted Stock Units Activity
During the three month period ended March 31, 2017, there were no grants of new RSU awards, and no existing RSUs either vested or were released to holders. Set forth below is a summary of non-vested RSU activity during the three month period ended March 31, 2017:
 
Number of Units
(in thousands)
 
Weighted Average Per Share
Grant Date Fair Value
Non-vested at December 31, 2016
416
 
$
31.52

Granted
—
 
$
—

Vested
—
 
$
—

Forfeited
(6)
 
$
29.50

Non-vested at March 31, 2017
410
 
$
31.55