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Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Changes in Non-Vested Shares of Restricted Common Stock

The following table provides activity of restricted common stock for the years ended December 31, 2015, 2014 and 2013:

	Shares			Weighted Average Grant Date Fair Value Per Share
Balance, December 31, 2012		357,522		$	4.32
Restricted common stock vested		(356,886	)		4.61
Restricted common stock granted		139,005			5.70
Balance, December 31, 2013		139,641			4.94
Restricted common stock vested		(98,530	)		5.76
Restricted common stock granted		73,394			9.89
Balance, December 31, 2014		114,505			4.94
Restricted common stock vested		(96,172	)		6.92
Restricted common stock granted		255,151			6.89
Restricted common stock forfeited		(14,161	)		8.08
Balance, December 31, 2015		259,323		$	7.05

Weighted Average Assumptions used in Determining Fair Value of Common Stock Options

The following table provides assumptions used in determining the fair value of common stock option grants for the year ended December 31, 2013:

	Year Ended December 31,
(Weighted averages)	2013
Expected volatility		55.00	%
Risk-free interest rate		1.15	%
Expected term (in years)		5.60
Dividend yield		—	%
Grant date fair value per share	$	2.75

Activity of Non-Vested Stock Options

The following table presents activity of nonvested common stock options during the years ended December 31, 2015, 2014 and 2013:

	Options			Weighted Average Exercise Price Per Share
Balance, December 31, 2012		872,373		$	5.41
Common stock options granted		205,000			9.52
Common stock options vested		(383,208	)		5.47
Common stock options forfeited		(20,332	)		3.62
Balance, December 31, 2013		673,833			6.59
Common stock options vested		(592,433	)		6.29
Balance, December 31, 2014		81,400			7.62
Common stock options vested		(31,400	)		3.84
Common stock options forfeited		(50,000	)		10.00
Balance, December 31, 2015		—		$	—

Activity of Exercisable Common Stock Options

The following table presents activity of exercisable common stock options during the years ended December 31, 2015, 2014 and 2013:

	Options			Weighted Average Exercise Price Per Share
Balance, December 31, 2012		181,327		$	5.21
Common stock options exercised		(20,668	)		3.00
Common stock options vested		383,208			5.47
Balance, December 31, 2013		543,867			5.76
Common stock options exercised		(150,000	)		5.72
Common stock options vested		592,433			6.29
Balance, December 31, 2014		986,300			6.08
Common stock options exercised		(242,050	)		5.16
Common stock options vested		31,400			3.84
Balance, December 31, 2015		775,650		$	6.28

Intrinsic Value of Options Outstanding and Exercisable

The following table provides information pertaining to the intrinsic value of common stock options outstanding and exercisable as of December 31, 2015 and 2014:

	December 31,
(In millions)	2015		2014
Intrinsic value of common stock options outstanding	$	1.6	$	1.5
Intrinsic value of common stock options exercisable		1.6		1.4

Intrinsic Value of Options Exercised and Fair Value of Options Vested

The following table provides information presents the intrinsic value of common stock options exercised and the fair value of common stock options that vested during the years ended December 31, 2015, 2014 and 2013:

	Year Ended December 31,
(In millions)	2015		2014		2013
Intrinsic value of common stock options exercised ⁽¹⁾	$	0.6	$	0.4	$	0.1
Fair value of common stock options vested⁽²⁾		0.1		1.2		0.8

⁽¹⁾

The intrinsic value of common stock options exercised is the difference between the fair value of the Company’s common stock on the exercise date and the exercise price.

⁽²⁾

The fair value of common stock options vested is based on the grant date fair value.

Assumptions Used in Determining Fair Value of Performance Share Awards Granted

The Company issues performance share awards as part of long-term incentive compensation to certain employees under the 2015 Plan. The fair value of each performance share award is estimated on the grant date using a Monte Carlo simulation. The awards have a three-year cliff vesting, and the percentage of the award that vests is based upon the market appreciation of the Company’s common stock. Upon vesting, the performance shares are issued in the form of unrestricted common stock. The following table provides assumptions used in determining the fair value of performance share awards granted during the year ended December 31, 2015:

	Year Ended December 31,
(Weighted averages)	2015
Grant date fair value	$	7.53
Grant date closing stock price	$	11.05
Volatility		48.90	%
Risk-free rate		0.84	%
Dividend yield		—	%
Probability of death or disability		5.00	%

Activity of Outstanding Performance Share Awards

The following table presents activity of outstanding performance share awards during the year ended December 31, 2015:

	Performance Shares		Grant Date Fair Value per Share
Balance, December 31, 2014		—	$	—
Performance shares awarded		260,000		7.53
Balance, December 31, 2015		260,000	$	7.53