Share-Based Payments and Other Executive Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Significant weighted average assumptions

The significant weighted average assumptions used for the years ended December 31, 2014, 2013 and 2012 were as follows:

	2014			2013			2012
Dividend yield	—		%	—		%	—		%
Volatility rate	42.60%			52.37%-52.49%			47.40%-61.25%
Risk-free interest rate	0.66%			1.66%-1.86%			0.17%-0.43%
Expected life (years)	2.91			6.25			0.50-4.08
Weighted average fair value of units granted	$	9.30		$	8.75		$	7.98

Summary of stock options activity

A summary of the status of the stock option activity for the years ended December 31, 2014, 2013 and 2012 is presented below:

	2014				2013				2012
	Stock Options		Weighted Average Exercise Price		Stock Options		Weighted Average Exercise Price		Stock Options	Weighted Average Exercise Price
Outstanding at beginning of year	585,036		$	16.99	110,000		$	25.00	110,000	$	25.00
Granted	—		—		585,036		16.99		—	—
Exercised	—		—		—		—		—	—
Forfeited	(30,000	)	16.80		(110,000	)	—		—	—
Outstanding at end of year	555,036		$	17.00	585,036		$	16.99	110,000	$	25.00
Exercisable at end of year	146,259		$	16.99	—		$	—	110,000	$	25.00

Summary of restricted stock and stock units activity

A summary of the restricted stock and stock units activity for the year ended December 31, 2014, is presented below:

	Restricted Stock and Stock Units			Weighted Average Grant Date Fair Value
Outstanding at beginning of year	120,588		(1)	$	19.68
Granted	127,518			13.59
Vested	(72,590	)		16.23
Expired/Forfeited/Cancelled	(30,164	)		14.66
Outstanding at end of year	145,352			$	16.77

(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.