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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2015
Stock-Based Compensation [Abstract]  
Stock Options Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

Number of

 

Exercise

 

Contractual

 

Grant Date

Stock Options

 

Options

 

Price

 

Term

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2015

 

 

255,252 

 

$

9.63 

 

 

 

 

 

 

Granted

 

 

 -

 

 

 -

 

 

 

 

 

 

Exercised

 

 

(750)

 

 

7.52 

 

 

 

 

 

 

Expired/Forfeited

 

 

(15,000)

 

 

17.10 

 

 

 

 

 

 

Outstanding at March 31, 2015

 

 

239,502 

 

$

9.17 

 

 

3.9 Years

 

$

2,195,772 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at March 31, 2015

 

 

239,502 

 

$

9.17 

 

 

3.9 Years

 

$

2,195,772 

  

Summary of Changes in Employee Deferred Stock Award Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

Deferred

 

Fair Value

 

 

Stock

 

Per Share

Non-Vested Balance, January 1, 2015

 

 

34,750 

 

$

10.27 

 Granted

 

 

1,000 

 

 

10.01 

 Vested

 

 

(250)

 

 

10.01 

 Forfeited

 

 

 -

 

 

 -

Non-Vested Balance, March 31, 2015

 

 

35,500 

 

$

10.26 

 

 

 

 

 

 

 

 

Stock Appreciation Rights Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

March 31, 2015

 

March 31, 2014

 

Expected dividend yield

 

 

0.00 

%

 

0.00 

%

Expected weighted-average volatility

 

 

53.8 

%

 

50.0 

%

Risk-free interest rate

 

 

1.77 

%

 

2.55 

%

Expected term of SARs (in years)

 

 

7.75 

 

 

8.75 

 

 

Stock Appreciation Rights Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SARs

 

Weighted Average Fair Value

Non-vested SARs at December 31, 2014

 

 

115,500 

 

$

4.50 

 Granted

 

 

 

 

 Vested

 

 

(16,500)

 

 

5.04 

 Cancellations

 

 

 

 

Non-vested SARs at March 31, 2015

 

 

99,000 

 

$

5.04