| Unrecognized Share-Based Compensation Expense |
As of June 30, 2015, unrecognized share-based compensation expense was as follows:
|
|
|
|
|
|
|
|
Unrecognized
Expense
|
|
Average Expected
Recognition
Period
|
|
(in thousands) |
Stock option awards |
$ |
1,002 |
|
|
1.5 years |
Restricted stock awards |
2,877 |
|
|
2.1 years |
Total unrecognized share-based compensation expense |
$ |
3,879 |
|
|
2.0 years |
|
| Summary of Stock Options Outstanding under Plans |
The table below provides stock option information for the three months ended June 30, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
583,665 |
|
|
$ |
24.09 |
|
|
8.0 years |
|
$ |
2,383 |
|
(1) |
Options granted |
28,000 |
|
|
$ |
23.47 |
|
|
9.9 years |
|
— |
|
|
Options exercised |
(6,874 |
) |
|
$ |
12.54 |
|
|
7.5 years |
|
— |
|
|
Options forfeited |
(51,126 |
) |
|
$ |
21.20 |
|
|
8.9 years |
|
— |
|
|
Options expired |
(225 |
) |
|
$ |
144.00 |
|
|
0.8 years |
|
— |
|
|
Options outstanding at end of period |
553,440 |
|
|
$ |
24.42 |
|
|
7.8 years |
|
$ |
4,116 |
|
(2) |
Options exercisable at end of period |
216,289 |
|
|
$ |
34.63 |
|
|
6.7 years |
|
$ |
1,764 |
|
(2) |
|
|
(1) |
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.15 as of March 31, 2015, 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 $24.84 as of June 30, 2015, over the exercise price, multiplied by the number of options.
|
The table below provides stock option information for the six months ended June 30, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
603,872 |
|
|
$ |
23.78 |
|
|
8 |
|
$ |
2,853 |
|
(1) |
Options granted |
28,000 |
|
|
$ |
23.47 |
|
|
9.9 years |
|
|
|
Options exercised |
(26,455 |
) |
|
$ |
13.77 |
|
|
7.7 years |
|
|
|
Options forfeited |
(51,627 |
) |
|
$ |
21.12 |
|
|
8.9 years |
|
|
|
Options expired |
(350 |
) |
|
$ |
144.00 |
|
|
0.8 years |
|
|
|
Options outstanding at end of period |
553,440 |
|
|
$ |
24.42 |
|
|
7.8 years |
|
$ |
4,116 |
|
(2) |
Options exercisable at end of period |
216,289 |
|
|
$ |
34.63 |
|
|
6.7 years |
|
$ |
1,764 |
|
(2) |
|
|
(1) |
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.81 as of December 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 $24.84 as of June 30, 2015, 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, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
175,072 |
|
|
$ |
19.55 |
|
|
173,222 |
|
|
$ |
19.58 |
|
Restricted stock granted |
49,334 |
|
|
$ |
22.59 |
|
|
53,184 |
|
|
$ |
22.43 |
|
Restricted stock vested |
(16,151 |
) |
|
$ |
22.26 |
|
|
(18,151 |
) |
|
$ |
22.50 |
|
Restricted stock forfeited |
(15,000 |
) |
|
$ |
21.83 |
|
|
(15,000 |
) |
|
$ |
21.83 |
|
Restricted stock at end of period |
193,255 |
|
|
$ |
19.92 |
|
|
193,255 |
|
|
$ |
19.92 |
|
|