Stock-Based Compensation

3 Months Ended

Mar. 31, 2015

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

Stock-Based Compensation

Stock-Based Compensation

A summary of stock option activity as of March 31, 2015 and changes during the first three months of 2015 is presented below:

	2015
	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(In whole shares)				(In millions)
Outstanding - beginning of year	143,500	$	16.76
Granted	—	—
Exercised	—	—
Canceled or expired	—	—
Outstanding - end of period	143,500	$	16.76	1.5 years	$	5.2
Options exercisable	143,500	$	16.76	1.5 years	$	5.2

A summary of restricted share and performance share activity for the three months ended March 31, 2015 is as follows:

	2015
	Time-Based				Performance-Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
	(In whole shares)				(In whole shares)
Outstanding - beginning of year	344,932		$	33.55	28,000		$	20.30
Granted	1,000		58.74		—		—
Vested	(41,666	)	20.34		(14,000	)	20.30
Canceled or expired	—		—		—		—
Outstanding - end of period	304,266		$	35.37	14,000		$	20.30

Total stock-based compensation expense included in selling, general and administrative expenses during the firstthree months of 2015 and 2014 was $1.6 million and $1.3 million, respectively. As of March 31, 2015, there was $8.3 million of unrecognized compensation cost related to non-vested stock-based compensation, which cost is expected to be recognized over a weighted average period of 1.9 years.