XML 54 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation Plans Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Valuation assumptions
The weighted-average estimated value of SPRs outstanding as of December 31, 2017 was $9.83 per SPR using the following assumptions:

Expected volatility
20.5% to 44.2%
Risk-free rate of return
1.2% to 2.2%
Expected term (in years)
0.1 to 4.5
Expected annual dividend
$0
Activity related to SPRs
Activity related to the Company’s SPRs during the year ended December 31, 2017 was as follows:
 
Number of SPRs
 
Weighted Average Exercise Price
Outstanding on December 31, 2016
946,701

 
$
19.60

Granted
78,948

 
25.12

Exercised
(34,095
)
 
12.99

Cancelled
(30,000
)
 
36.71

Outstanding on December 31, 2017
961,554

 
9.76

 
 
 
 
Exercisable on December 31, 2017
702,438

 
$
17.66
Activity related to RSAs
Activity related to the Company’s RSAs during the year ended December 31, 2017 was as follows:
 
Restricted Stock Awards
Outstanding on December 31, 2016
31,897

Granted
104,920

Exchanged for shares
(31,897
)
Outstanding on December 31, 2017
104,920
MSU Rollforward

Market Stock Units ("MSUs") are exchangeable for between 0% to 150% of the Company's common shares at the end of the vesting period based on the trailing 60 day average closing price of the Company's common stock. The value of the MSUs was determined using a geometric brownian motion model that, based on certain variables, generates a large number of random trials simulating the price of the common stock over the measurement period. Expense of $0.9 million, $0.5 million and $0.5 million related to MSUs was recorded in the years ended December 31, 2017, 2016 and 2015, respectively. Activity related to the Company’s MSUs during the year ended December 31, 2017 was as follows:
 
Number of Market Stock Units
 
Maximum Shares Potentially Issuable
Outstanding on December 31, 2016
149,532

 
224,298

Granted
98,243

 
147,365

Cancelled
(25,839
)
 
(38,759
)
Outstanding on December 31, 2017
221,936

 
332,904
Stock Option Activity Table
Stock Options

Each stock option can be exchanged for one share of the Company’s common stock at the stated exercise price. Activity related to stock options during the year ended December 31, 2017 was as follows:
 
Number of Stock Options
 
Weighted average exercise price
Outstanding on December 31, 2016
45,910

 
26.55

Granted
40,000

 
27.01

Exercised
(1,434
)
 
14.04

Outstanding on December 31, 2017
84,476

 
26.98


Expense related to stock options was $0.2 million in 2017 and unrecognized compensation at December 31, 2017 was $0.1 million.