| Unrecognized Share-Based Compensation Expense |
As of September 30, 2014, unrecognized share-based
compensation expense was as follows:
|
|
|
|
|
|
|
|
|
| |
|
Unrecognized
Expense |
|
|
Average Expected
Recognition
Period |
|
| |
|
(In
thousands) |
|
|
Stock option awards
|
|
$ |
1,490 |
|
|
|
2.2 years |
|
|
Restricted stock awards
|
|
|
2,822 |
|
|
|
2.6 years |
|
|
|
|
|
|
|
|
|
|
|
Total unrecognized share-based compensation expense
|
|
$ |
4,312 |
|
|
|
2.4 years |
|
|
|
|
|
|
|
|
|
|
|
| Summary of Stock Options Outstanding under Plans |
The table below provides stock option information for the three
months ended September 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
|
|
|
581,913 |
|
|
$ |
24.32 |
|
|
|
8.6 years |
|
|
$ |
2,168 |
(1) |
|
Options granted
|
|
|
28,000 |
|
|
$ |
20.57 |
|
|
|
10.0 years |
|
|
|
|
|
|
Options exercised
|
|
|
(687 |
) |
|
$ |
12.54 |
|
|
|
8.2 years |
|
|
|
|
|
|
Options forfeited
|
|
|
(1,876 |
) |
|
$ |
12.54 |
|
|
|
8.2 years |
|
|
|
|
|
|
Options expired
|
|
|
(2,875 |
) |
|
$ |
109.71 |
|
|
|
3.3 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period
|
|
|
604,475 |
|
|
$ |
23.79 |
|
|
|
8.5 years |
|
|
$ |
2,188 |
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at end of period
|
|
|
194,757 |
|
|
$ |
37.21 |
|
|
|
7.2 years |
|
|
$ |
871 |
(2) |
| (1) |
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. |
| (2) |
Intrinsic value represents the
excess of the closing stock price on the last trading day of the
period, which was $20.16 as of September 30, 2014, over the
exercise price, multiplied by the number of options. |
The table below provides stock option information for the nine
months ended September 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
|
|
|
546,595 |
|
|
$ |
28.09 |
|
|
|
8.4 years |
|
|
$ |
3,384 |
(1) |
|
Options granted
|
|
|
133,000 |
|
|
$ |
21.60 |
|
|
|
9.7 years |
|
|
|
|
|
|
Options exercised
|
|
|
(34,382 |
) |
|
$ |
12.54 |
|
|
|
7.9 years |
|
|
|
|
|
|
Options forfeited
|
|
|
(9,751 |
) |
|
$ |
12.54 |
|
|
|
8.2 years |
|
|
|
|
|
|
Options expired
|
|
|
(30,987 |
) |
|
$ |
106.26 |
|
|
|
.5 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period
|
|
|
604,475 |
|
|
$ |
23.79 |
|
|
|
8.5 years |
|
|
$ |
2,188 |
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at end of period
|
|
|
194,757 |
|
|
$ |
37.21 |
|
|
|
7.2 years |
|
|
$ |
871 |
(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 $20.16 as of September 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 nine months ended September 30, 2014:
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Nine 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
|
|
|
166,332 |
|
|
$ |
18.46 |
|
|
|
116,082 |
|
|
$ |
16.43 |
|
|
Restricted stock granted
|
|
|
32,720 |
|
|
$ |
20.86 |
|
|
|
99,068 |
|
|
$ |
21.93 |
|
|
Restricted stock vested
|
|
|
(36,331 |
) |
|
$ |
16.46 |
|
|
|
(51,429 |
) |
|
$ |
17.53 |
|
|
Restricted stock forfeited
|
|
|
— |
|
|
$ |
— |
|
|
|
(1,000 |
) |
|
$ |
22.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted stock at end of period
|
|
|
162,721 |
|
|
$ |
19.39 |
|
|
|
162,721 |
|
|
$ |
19.39 |
|
|
|
|
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|
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|