Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes share-based compensation expense:

	Year Ended December 31,
(in thousands)	2015			2014			2013
Restricted stock	$	2,111		$	2,495		$	3,073
Performance unit incentive plan (“PUP”)		1,692			359			1,864
Restricted stock units		45			76			177
Stock options		—			—			107
Share-based compensation before income tax benefit		3,848			2,930			5,221
Income tax benefit		(1,454	)		(1,102	)		(1,936	)
Share-based compensation, net of income tax benefit	$	2,394		$	1,828		$	3,285

The following table summarizes the activity of the outstanding share-based compensation awards:

	Restricted Stock					PUP Awards					Restricted Stock Units
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Balance, December 31, 2014		328,602		$	23.30		267,120		$	23.51		25,370		$	23.17
Granted		92,850		$	27.52		92,100		$	27.30		4,800		$	27.35
Vested		(109,050	)	$	20.51		(103,555	)	$	20.60		(11,623	)	$	20.91
Forfeited		(33,185	)	$	24.51		(24,500	)	$	25.23		(2,100	)	$	25.46
Balance, December 31, 2015		279,217		$	25.65		231,165		$	26.15		16,447		$	25.69

The following table summarizes stock option activity:

	Shares			Weighted- Average Exercise Price		Options Exercisable
Options outstanding at December 31, 2014		247,590		$	17.82		247,590
Exercised		(54,076	)	$	16.62
Forfeited or expired		(129,741	)	$	18.91
Options outstanding at December 31, 2015		63,773		$	16.62		63,773

Additional information pertaining to stock options is provided in the table below:

	December 31,
(in thousands)	2015		2014		2013
Total intrinsic value of stock options outstanding	$	740	$	2,251	$	2,723
Total intrinsic value of stock options exercised	$	1,474	$	1,616	$	1,611
Fair value of stock options vested	$	—	$	—	$	532
Cash received from the exercise of stock options	$	898	$	1,155	$	777
Tax benefits realized for tax deductions related to stock option exercises	$	104	$	461	$	404