Share-Based Payments and Other Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share-Based Payments and Other Compensation

Summary of weighted-average assumptions

	2016			2015			2014
Dividend yield		—	%		—	%		—	%
Volatility rate		40.5	%		38.0	%		42.6	%
Risk-free interest rate		0.91	%		1.10	%		0.66	%
Expected life (years)		2.91			2.95			2.91
Weighted average fair value of units granted	$	3.37		$	5.95		$	9.30

Summary of stock options activity

	For the Years Ended December 31,
	2016			2015			2014
		Weighted			Weighted			Weighted
		Average			Average			Average
	Stock	Exercise Price		Stock	Exercise Price		Stock	Exercise Price
	Options	Per Share		Options	Per Share		Options	Per Share
Outstanding as of beginning of year	545,036	$	17.01	555,036	$	17.00	585,036	$	16.99
Granted	—		—	—		—	—		—
Exercised	—		—	—		—	—		—
Forfeited	(100,000)		16.80	(10,000)		16.80	(30,000)		16.80
Outstanding as of end of year	445,036	$	17.05	545,036	$	17.01	555,036	$	17.00
Exercisable as of end of year	333,777	$	17.05	272,518	$	17.01	146,259	$	16.99

Summary of restricted stock and stock units activity

The performance-based restricted stock, restricted stock and restricted stock units activity for the year ended December 31, 2016 is summarized as follows:

	Performance-Based Restricted Stock			Restricted Stock and Restricted Stock Units
	Performance	Weighted		Restricted		Weighted
	Based	Average		Stock and		Average
	Restricted	Grant Date		Restricted		Grant Date
	Stock	Fair Value		Stock Units	(1)	Fair Value
Outstanding as of beginning of year	235,746	$	8.55	116,592		$	15.57
Granted	198,174		3.37	154,176			10.43
Vested	(10,821)		15.80	(74,571)			13.26
Expired/forfeited/cancelled	(117,556)		7.38	(38,933)			11.95
Outstanding as of end of year	305,543		4.78	157,264			11.75

(1) Restricted stock shares are considered legally outstanding but are not considered outstanding for accounting purposes until the vesting conditions are satisfied in accordance with authoritative accounting guidance. Additionally, the balances do not include the restricted stock units deferred under our director deferral program discussed below.