Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.5.0.2
Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2016
Share-Based Compensation  
Schedule of share based compensation expense

The following table presents the amounts recognized in our Condensed Consolidated Statements of Operations, in thousands:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

 

2016

 

2015

 

2016

 

2015

Share-based compensation expense

 

$
2,038

 

$
1,485

 

$
5,743

 

$
3,151

Income tax benefit realized from award vestings

 

$
511

 

$

 —

 

$
511

 

$

 —

 

Schedule of share-based compensation activity

 

 

Restricted Share Awards

 

Stock Options

 

 

Number of Shares

 

Weighted Average Grant Date Fair Value Per Share

 

Number of Shares

 

Weighted Average Grant Date Fair Value Per Share

 

Weighted Average Exercise Price Per Share

 

Aggregate Intrinsic Value

Balance December 31, 2015

 
586.6

 

$
21.97

 
387.6

 

$
9.35

 

$
24.03

 

$
2,611.7

Granted

 
340.9

 

$
28.99

 
409.3

 

$
10.20

 

$
26.30

 

 

 

Converted/Exercised

 
(205.8)

 

$
21.17

 
(3.7)

 

$
10.35

 

$
26.81

 

$
37.3

Forfeited

 
(32.9)

 

$
25.45

 
(34.9)

 

$
10.28

 

$
26.58

 

 

 

Balance September 30, 2016

 
688.8

 

$
25.51

 
758.3

 

$
9.76

 

$
25.13

 

$
6,122.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable September 30, 2016 (1)

 

 

 

 

 

 
113.9

 

$
8.08

 

$
20.65

 

$
1,429.2

(1)

The weighted average remaining contractual term for vested options is 6.8 years.
Schedule of unrecognized share-based compensation expense relating to unvested awards

 

 

 

 

 

 

 

 

 

As of September 30, 2016

 

 

Unrecognized Compensation Expense
on Unvested Awards

 

Weighted Average
Remaining
Vesting Period

Restricted stock awards

 

$
13,703

 

 

1.8 years

Stock options

 

 
5,447

 

 

1.9 years

Total unrecognized compensation expense related to unvested awards

 

$
19,150

 

 

 

 

Schedule of assumptions used to estimate the fair values of options granted

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

Risk free interest rate

 

 
1.51

%

 

 
1.82

%

Expected volatility, using historical return volatility and implied volatility

 

 
38.00

%

 

 
37.00

%

Expected life (in years)

 

 
6.00

 

 

 
6.00

 

Dividend yield

 

 
0.00

%

 

 
0.00

%

Estimated fair value of options granted

 

$
10.20

 

 

$
10.44

 

 

Performance-based conditions | Restricted Stock Awards  
Share-Based Compensation  
Schedule of the range of payouts and the related expense for RSAs with performance-based conditions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payout Ranges and related expense

RSAs with performance-based conditions

 

Grant Date Fair Value

 

0%

 

25%

 

100%

 

200%

February 22, 2016

 

$
2,251

 

$

 —

 

$
563

 

$
2,251

 

$
4,502

 

Market-based conditions | Stock Options  
Share-Based Compensation  
Schedule of key inputs used to estimate the fair value of awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

Remaining measurement period (years)

 

 

 

 

 

 
2.86

 

Risk free interest rate

 

 

 

 

 

 
0.90

%

Dividend yield

 

 

 

 

 

 
0.00

%

Estimated fair value of market-based RSAs granted

 

 

 

 

 

$
33.77