| Unrecognized Share-Based Compensation Expense |
As of June 30, 2014, unrecognized share-based compensation
expense was as follows:
|
|
|
|
|
|
|
|
|
| |
|
Unrecognized
Expense |
|
|
Average Expected
Recognition
Period |
|
| |
|
(In
thousands) |
|
|
Stock option awards
|
|
$ |
1,606 |
|
|
|
2.1 years |
|
|
Restricted stock awards
|
|
|
2,444 |
|
|
|
2.4 years |
|
|
|
|
|
|
|
|
|
|
|
Total unrecognized share-based compensation expense
|
|
$ |
4,050 |
|
|
|
2.3 years |
|
|
|
|
|
|
|
|
|
|
|
| Summary of Stock Options Outstanding under Plans |
The table below provides stock option information for the three
months ended June 30, 2014:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price Per
Share |
|
|
Weighted-
Average
Remaining
Contractual
Life |
|
|
Aggregate
Intrinsic
Value of
In-the-
Money
Options |
|
| |
|
(In thousands,
except share and per share data) |
|
|
Options outstanding at beginning of period
|
|
|
502,188 |
|
|
$ |
24.31 |
|
|
|
8.6 years |
|
|
$ |
3,873 |
(1)
|
|
Options granted
|
|
|
105,000 |
|
|
$ |
21.87 |
|
|
|
9.9 years |
|
|
|
|
|
|
Options exercised
|
|
|
(18,500 |
) |
|
$ |
12.54 |
|
|
|
8.0 years |
|
|
|
|
|
|
Options forfeited
|
|
|
(6,500 |
) |
|
$ |
12.54 |
|
|
|
8.5 years |
|
|
|
|
|
|
Options expired
|
|
|
(275 |
) |
|
$ |
144.00 |
|
|
|
1.8 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period
|
|
|
581,913 |
|
|
$ |
24.32 |
|
|
|
8.6 years |
|
|
$ |
2,168 |
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at end of period
|
|
|
96,663 |
|
|
$ |
61.05 |
|
|
|
5.6 years |
|
|
$ |
560 |
(2)
|
| (1) |
Intrinsic value represents the
excess of the closing stock price on the last trading day of the
period, which was $23.30 as of March 31, 2014, over the
exercise price, multiplied by the number of options. |
| (2) |
Intrinsic value represents the
excess of the closing stock price on the last trading day of the
period, which was $21.08 as of June 30, 2014, over the
exercise price, multiplied by the number of options. |
The table below provides stock option information for the six
months ended June 30, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price Per
Share |
|
|
Weighted
Average
Remaining
Contractual
Life |
|
|
Aggregate
Intrinsic
Value of
In-the-
Money
Options |
|
| |
|
(In thousands,
except share and per share data) |
|
|
Options outstanding at beginning of period
|
|
|
546,595 |
|
|
$ |
28.09 |
|
|
|
8.4 years |
|
|
$ |
3,384 |
(1)
|
|
Options granted
|
|
|
105,000 |
|
|
$ |
21.87 |
|
|
|
9.9 years |
|
|
|
|
|
|
Options exercised
|
|
|
(33,695 |
) |
|
$ |
12.54 |
|
|
|
8.2 years |
|
|
|
|
|
|
Options forfeited
|
|
|
(7,875 |
) |
|
$ |
12.54 |
|
|
|
8.5 years |
|
|
|
|
|
|
Options expired
|
|
|
(28,112 |
) |
|
$ |
105.91 |
|
|
|
.5 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period
|
|
|
581,913 |
|
|
$ |
24.32 |
|
|
|
8.6 years |
|
|
$ |
2,168 |
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at end of period
|
|
|
96,663 |
|
|
$ |
61.05 |
|
|
|
5.6 years |
|
|
$ |
560 |
(2)
|
| (1) |
Intrinsic value represents the
excess of the closing stock price on the last trading day of the
period, which was $21.89 as of December 31, 2013, over the
exercise price, multiplied by the number of options. |
| (2) |
Intrinsic value represents the
excess of the closing stock price on the last trading day of the
period, which was $21.08 as of June 30, 2014, over the
exercise price, multiplied by the number of options. |
|
| Schedule of Restricted Stock Awards under 2013 Plan |
The table below provides information for restricted stock awards
for the three and six months ended June 30, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date
Fair Value
Per Share |
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date
Fair Value
Per Share |
|
|
Restricted stock at beginning of period
|
|
|
122,082 |
|
|
$ |
16.82 |
|
|
|
116,082 |
|
|
$ |
16.43 |
|
|
Restricted stock granted
|
|
|
48,348 |
|
|
$ |
22.30 |
|
|
|
66,348 |
|
|
$ |
22.46 |
|
|
Restricted stock vested
|
|
|
(3,098 |
) |
|
$ |
12.42 |
|
|
|
(15,098 |
) |
|
$ |
20.12 |
|
|
Restricted stock forfeited
|
|
|
(1,000 |
) |
|
$ |
22.25 |
|
|
|
(1,000 |
) |
|
$ |
22.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted stock at end of period
|
|
|
166,332 |
|
|
$ |
18.46 |
|
|
|
166,332 |
|
|
$ |
18.46 |
|
|
|
|
|
|
|
|
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|