| Share Based Compensation [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Share Based Compensation [Abstract] | |
Weighted Average Assumptions For Stock Option Awards |
The following weighted average assumptions were used in the estimated grant date fair value calculations for stock option awards:
|
|
|
Year Ended December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Risk free interest rate |
|
|
1.53 |
% |
|
|
1.65 |
% |
|
|
1.83 |
% |
|
Expected dividend yield |
|
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
Expected stock price volatility |
|
|
66.5 |
% |
|
|
65.2 |
% |
|
|
66.3 |
% |
|
Average expected life (in years) |
|
|
6.0 |
|
|
|
6.0 |
|
|
|
6.0 |
|
|
Weighted average grant date fair value |
|
$ |
4.32 |
|
|
$ |
14.25 |
|
|
$ |
17.56 |
|
|
Summary of Stock Option Activity |
The following table summarizes the Company’s stock option activity:
|
(dollars in thousands except per share amounts) |
|
Number of
Shares |
|
|
Weighted
Average
Exercise Price |
|
|
Weighted
Average
Remaining
Contractual
Term
(in years) |
|
|
Aggregate
Intrinsic
Value (1) |
|
|
Outstanding at December 31, 2015 |
|
|
646,290 |
|
|
$ |
19.91 |
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
200,388 |
|
|
$ |
7.16 |
|
|
|
|
|
|
|
|
|
|
Exercised |
|
|
(121,667 |
) |
|
$ |
5.05 |
|
|
|
|
|
|
|
|
|
|
Canceled/forfeited |
|
|
(74,042 |
) |
|
$ |
22.08 |
|
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2016 |
|
|
650,969 |
|
|
$ |
18.51 |
|
|
|
6.4 |
|
|
$ |
917 |
|
|
Vested and expected to vest in the future at December 31, 2016 |
|
|
612,122 |
|
|
$ |
19.23 |
|
|
|
6.2 |
|
|
$ |
823 |
|
|
Vested and exercisable at December 31, 2016 |
|
|
463,165 |
|
|
$ |
23.11 |
|
|
|
5.2 |
|
|
$ |
462 |
|
|
(1) |
Represents the difference between the exercise price and the value of the Company’s stock at fiscal year-end. | |
Summary of Stock Options By Exercise Price Range |
The following table summarizes information of the stock options outstanding and exercisable at December 31, 2016:
|
|
|
Stock Options Outstanding |
|
|
Stock Options Exercisable |
|
|
Exercise Price
Range |
|
Number of Shares |
|
|
Weighted Average
Exercise Price |
|
|
Remaining
Contractual Term
(in years) |
|
|
Number of Shares |
|
|
Weighted Average
Exercise Price |
|
|
Remaining
Contractual Term
(in years) |
|
|
$5.70 — $6.29 |
|
|
127,002 |
|
|
$ |
5.96 |
|
|
|
5.0 |
|
|
|
127,002 |
|
|
$ |
5.96 |
|
|
|
5.0 |
|
|
$6.30 — $6.93 |
|
|
145,804 |
|
|
$ |
6.93 |
|
|
|
9.2 |
|
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
|
$6.94 — $22.43 |
|
|
67,287 |
|
|
$ |
9.79 |
|
|
|
8.1 |
|
|
|
25,287 |
|
|
$ |
12.70 |
|
|
|
6.4 |
|
|
$22.44 — $28.46 |
|
|
67,609 |
|
|
$ |
24.01 |
|
|
|
8.1 |
|
|
|
67,609 |
|
|
$ |
24.01 |
|
|
|
8.1 |
|
|
$28.47 — $28.92 |
|
|
58,815 |
|
|
$ |
28.61 |
|
|
|
4.6 |
|
|
|
58,815 |
|
|
$ |
28.61 |
|
|
|
4.6 |
|
|
$28.93 — $30.27 |
|
|
102,952 |
|
|
$ |
29.14 |
|
|
|
6.7 |
|
|
|
102,952 |
|
|
$ |
29.14 |
|
|
|
6.7 |
|
|
$30.28 — $46.30 |
|
|
81,500 |
|
|
$ |
40.72 |
|
|
|
1.3 |
|
|
|
81,500 |
|
|
$ |
40.72 |
|
|
|
1.3 |
|
|
$5.70 — $46.30 |
|
|
650,969 |
|
|
$ |
18.52 |
|
|
|
6.4 |
|
|
|
463,165 |
|
|
$ |
23.11 |
|
|
|
5.2 |
|
|
Summary of Unvested Stock Option Activity |
The following table summarizes the Company’s unvested stock option activity:
|
(dollars in thousands except per share amounts) |
|
Number of Shares |
|
|
Weighted
Average
Grant Date
Fair Value |
|
|
Aggregate Unrecognized Compensation(1) |
|
|
Weighted Average
Period Over Which
Expected to be
Recognized
(in years) |
|
|
Unvested at December 31, 2015 |
|
|
158,671 |
|
|
$ |
15.01 |
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
200,388 |
|
|
$ |
4.32 |
|
|
|
|
|
|
|
|
|
|
Vested |
|
|
(156,171 |
) |
|
$ |
15.05 |
|
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(15,084 |
) |
|
$ |
5.60 |
|
|
|
|
|
|
|
|
|
|
Unvested at December 31, 2016 |
|
|
187,804 |
|
|
$ |
4.33 |
|
|
$ |
476 |
|
|
|
2.2 |
|
|
|
(1) |
The valuation model applied in this calculation utilizes highly subjective assumptions that could potentially change over time, including the expected forfeiture rate and performance targets. Therefore, the amount of unrecognized share-based payment noted above does not necessarily represent the value that will ultimately be realized by the Company in the consolidated statements of income and comprehensive income. | |
Summary of Unvested RSU Activity |
The following table summarizes the Company’s RSU activity:
|
(dollars in thousands except per share amounts) |
|
Shares |
|
|
Weighted
Average
Grant Date
Fair Value |
|
|
Aggregate Unrecognized Compensation |
|
|
Weighted Average
Period Over Which
Expected to be
Recognized
(in years) |
|
|
Unvested at December 31, 2015 |
|
|
74,413 |
|
|
|
9.18 |
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
175,441 |
|
|
|
8.30 |
|
|
|
|
|
|
|
|
|
|
Vested |
|
|
(74,413 |
) |
|
|
9.18 |
|
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(7,588 |
) |
|
|
6.93 |
|
|
|
|
|
|
|
|
|
|
Unvested at December 31, 2016 |
|
|
167,853 |
|
|
$ |
8.37 |
|
|
$ |
1,182 |
|
|
|
1.3 |
|
|
Summary of Share-based Compensation Expense |
The impact of recording share-based compensation expense in the consolidated statements of income and comprehensive income is summarized below:
|
|
|
Year Ended December 31, |
|
|
(in thousands) |
|
2016(1) |
|
|
2015 |
|
|
2014 |
|
|
Share-based compensation expense(2) |
|
$ |
3,176 |
|
|
$ |
1,701 |
|
|
$ |
1,515 |
|
|
Income tax benefit |
|
|
(936 |
) |
|
|
(595 |
) |
|
|
(540 |
) |
|
Total share-based compensation expense after income taxes |
|
$ |
2,240 |
|
|
$ |
1,106 |
|
|
$ |
975 |
|
|
|
(1) |
Includes Cash Right of $463. |
|
|
(2) |
Included in “Selling, general and administrative expenses” in the Company’s consolidated statement of income and comprehensive income. | |