Rendering

Component: (Network and Table)
Network
2312301 - Disclosure - Share-Based Compensation (Tables)
(http://www.aaon.com/role/ShareBasedCompensationTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
 
Summary of Stock Option Assumptions
The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during December 31, 2016, 2015 and 2014 using a Black Scholes-Merton Model:
 
 
2016
 
2015
 
2014
 
 
 
 
 
 
Director and Officers:
 
 
 
 
 
Expected dividend yield
$
0.22

 
$
0.18

 
N/A

Expected volatility
41.19
%
 
44.14
%
 
N/A

Risk-free interest rate
2.00
%
 
1.97
%
 
N/A

Expected life (in years)
7.68

 
8.00

 
N/A

Employees:
 
 
 

 
 

Expected dividend yield
$
0.25

 
$
0.22

 
$
0.14

Expected volatility
34.50
%
 
42.71
%
 
44.85
%
Risk-free interest rate
1.73
%
 
1.41
%
 
2.26
%
Expected life (in years)
5.69

 
8.00

 
8.00

 
 
Summary of Stock Options Outstanding
The following is a summary of stock options vested and exercisable as of December 31, 2016:
 
 
 
 
 
Weighted
Average
 
Weighted
 
 
Range of
 
Number
 
Remaining
 
Average
 
 
Exercise
 
of
 
Contractual
 
Exercise
 
Intrinsic
Prices
 
Shares
 
Life
 
Price
 
Value
 
 
 
 
 
 
 
 
(in thousands)
$4.54 - 20.92
 
338,308

 
4.75
 
$
8.03

 
$
8,465

$20.96 - 26.50
 
71,928

 
8.56
 
22.50

 
759

Total
 
410,236

 
5.42
 
$
10.57

 
$
9,224

 
The following is a summary of stock options vested and exercisable as of December 31, 2015:
 
 
 
 
 
Weighted
Average
 
Weighted
 
 
Range of
 
Number
 
Remaining
 
Average
 
 
Exercise
 
of
 
Contractual
 
Exercise
 
Intrinsic
Prices
 
Shares
 
Life
 
Price
 
Value
 
 
 
 
 
 
 
 
(in thousands)
$4.31 - 8.65
 
421,237

 
4.89
 
$
7.04

 
$
6,814

$8.70 - 22.76
 
27,134

 
7.82
 
15.31

 
215

Total
 
448,371

 
5.07
 
$
7.54

 
$
7,029


The following is a summary of stock options vested and exercisable as of December 31, 2014:
 
 
 
 
 
Weighted
Average
 
Weighted
 
 
Range of
 
Number
 
Remaining
 
Average
 
 
Exercise
 
of
 
Contractual
 
Exercise
 
Intrinsic
Prices
 
Shares
 
Life
 
Price
 
Value
 
 
 
 
 
 
 
 
(in thousands)
$3.21 - 6.89
 
411,553

 
3.46
 
$
5.16

 
$
7,113

$7.13 - 8.17
 
81,050

 
6.54
 
7.27

 
1,226

$8.65 - 21.14
 
175,527

 
6.53
 
8.76

 
2,392

Total
 
668,130

 
4.64
 
$
6.36

 
$
10,731

 
 
Summary of Stock Option Activity
A summary of option activity under the plans is as follows:
 
 
 
 
Weighted
Average
Exercise
Options
Shares
 
Price
 
 
 
 
Outstanding at December 31, 2015
1,130,910

 
$
13.38

Granted
651,546

 
29.94

Exercised
(257,738
)
 
8.00

Forfeited or Expired
(74,014
)
 
21.92

Outstanding at December 31, 2016
1,450,704

 
$
21.33

Exercisable at December 31, 2016
410,236

 
$
10.57

 
 
Summary of Unvested Restricted Stock Awards
A summary of the unvested restricted stock awards is as follows:

 
 
 
Weighted
Average
Grant date
Restricted stock
Shares
 
Fair Value
 
 
 
 
Unvested at December 31, 2015
410,023

 
$
18.78

Granted
136,063

 
23.13

Vested
(119,379
)
 
17.81

Forfeited
(18,545
)
 
19.60

Unvested at December 31, 2016
408,162

 
$
20.47

 
 
Summary of Grant Date Fair Value of Awards During Period
 
2016
 
2015
 
2014
Grant date fair value of awards during the period:
(in thousands)
Options
$
6,102

 
$
3,685

 
$
817

Restricted stock
3,147

 
2,985

 
5,024

Total
$
9,249

 
$
6,670

 
$
5,841

 
 
Summary of Share-Based Compensation Expense

 
 
2016
 
2015
 
2014
Share-based compensation expense:
(in thousands)
Options
$
1,681

 
$
833

 
$
898

Restricted stock
2,676

 
2,058

 
1,280

Total
$
4,357

 
$
2,891

 
$
2,178

 
 
Summary of Income Tax Benefit Related to Share-Based Compensation
 
2016
 
2015
 
2014
Income tax benefit related to share-based compensation:
(in thousands)
Options
$
1,610

 
$
2,165

 
$
979

Restricted stock
458

 
280

 
260

Total
$
2,068

 
$
2,445

 
$
1,239