Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.7.0.1
Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Unrecognized Share-Based Compensation Expense
As of June 30, 2017, unrecognized share-based compensation expense was as follows:
 
Unrecognized
Expense
 
Average Expected
Recognition
Period
 
(in thousands)
 
 
Stock option awards
$
32

 
0.8 years
Restricted stock awards
5,170

 
2.3 years
Total unrecognized share-based compensation expense
$
5,202

 
2.3 years
Summary of Stock Options Outstanding under Plans
The table below provides stock option information for the three months ended June 30, 2017:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price Per
Share
 
Weighted-
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value of
In-the-
Money
Options
 
 
 
 
 
 
 
 
(in thousands)
 
Options outstanding at beginning of period
386,901

 
$
17.53

 
6.5 years
 
$
5,116

(1) 
Options exercised
(10,500
)
 
$
12.13

 
4.6 years
 

 
Options outstanding at end of period
376,401

 
$
17.68

 
6.3 years
 
$
4,168

(2) 
 
 
 
 
 
 
 
 
 
Options exercisable at end of period
357,730

 
$
17.45

 
6.3 years
 
$
4,042

(2) 
                              
(1) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $30.75 as of March 31, 2017, 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 $28.75 as of June 30, 2017, over the exercise price, multiplied by the number of options.

The table below provides stock option information for the six months ended June 30, 2017:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price Per
Share
 
Weighted-
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value of
In-the-
Money
Options
 
 
 
 
 
 
 
 
(in thousands)
 
Options outstanding at beginning of period
387,901

 
$
17.49

 
6.8 years
 
$
6,752

(1) 
Options exercised
(11,500
)
 
$
12.16

 
4.7 years
 

 
Options outstanding at end of period
376,401

 
$
17.68

 
6.3 years
 
$
4,168

(2) 
 
 
 
 
 
 
 
 
 
Options exercisable at end of period
357,730

 
$
17.45

 
6.3 years
 
$
4,042

(2) 
                              
(1) 
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $34.90 as of December 31, 2016, 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 $28.75 as of June 30, 2017, over the exercise price, multiplied by the number of options.
Schedule of Restricted Stock Awards
The table below provides information for restricted stock awards for the three and six months ended June 30, 2017:
 
Three Months Ended 
 June 30, 2017
 
Six Months Ended 
 June 30, 2017
 
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
336,455

 
$
20.39

 
343,958

 
$
16.60

Restricted stock granted
3,761

 
28.91

 
91,006

 
31.36

Restricted stock vested
(30,430
)
 
22.62

 
(119,344
)
 
18.07

Restricted stock forfeited
(3,835
)
 
25.25

 
(9,669
)
 
23.26

Restricted stock at end of period
305,951

 
20.21

 
305,951

 
20.21