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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock Option Valuation Assumptions | The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2016, 2015 and 2014, respectively:
|  | Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Stock options granted: |  |  |  |  |  |
Risk-free interest rate |  | 1.3 | % |  | 1.8 | % |  | 1.6 | %
Dividend yield |  | — | % |  | — | % |  | — | %
Volatility |  | 78.8 | % |  | 74.5 | % |  | 80.4 | %
Expected term (in years) |  | 2.6 |  |  | 5.0 |  |  | 5.0 |
Equity Instruments, Other than Options, Valuation Assumptions | The following table indicates the weighted-average assumptions that were used related to the awards granted for the year ended December 31, 2015. No SAR's were granted during the year ended December 31, 2016.
|  | Year ended December 31,
|  | 2015
SAR's granted: |  |
Risk-free interest rate |  | 1.8 | %
Dividend yield |  | — | %
Volatility |  | 74.5 | %
Expected term (in years) |  | 5.0 |
PSU's - Compensation expense is recognized for PSU awards on a straight-line basis over a 3-year service period based on the estimated fair value at the date of grant using a Monte Carlo simulation model. The following table indicates the weighted-average assumptions that were used related to the awards granted for the years ended December 31, 2015 and 2014. No PSU's were granted during the year ended December 31, 2016.
|  | Years Ended December 31,
|  | 2015 |  | 2014
PSUs granted: |  |  |  |
Risk-free interest rate |  | 1.0 | % |  | 0.8 | %
Dividend yield |  | — | % |  | — | %
Volatility |  | 64.3 | % |  | 74.5 | %
Performance period (in years) |  | 3.0 |  |  | 3.0 |
Allocation of Compensation Expense | The Company recorded the following compensation expense related to the Stock Plans:
|  | Years Ended December 31,
(in thousands) |  | 2016 |  | 2015 |  | 2014
RSA expense |  | $ | 2,021 |  |  | $ | 2,909 |  |  | $ | 2,612 |
Stock option expense |  | 285 |  |  | 658 |  |  | 117 |
SAR expense |  | 106 |  |  | 742 |  |  | — |
PSU expense |  | 456 |  |  | 2,895 |  |  | 1,983 |
Total stock-based compensation expense (1) |  | 2,868 |  |  | 7,204 |  |  | 4,712 |
(1) Amounts for the years ended December 31, 2016, 2015 and 2014 do not reflect an income tax benefit as a result of a valuation allowance on the Company's deferred tax assets.
Schedule of Unrecognized Compensation Cost | The amount of unrecognized compensation cost as of December 31, 2016, and the expected weighted-average period over which the cost will be recognized is as follows:
|  | As of December 31, 2016
(in thousands) |  | Unrecognized Compensation Cost |  | Expected Weighted-Average Period of Recognition (in years)
RSA expense |  | $ | 1,335 |  |  | 0.98
Stock option expense |  | 732 |  |  | 0.53
PSU expense |  | 137 |  |  | 0.63
Total unrecognized stock-based compensation expense |  | $ | 2,204 |  |  | 0.81
Summary of Restricted Stock Activity | A summary of the status and activity of non-vested RSA's is presented in the following table:
| For the Years Ended December 31.
| 2016 |  | 2015 |  | 2014
(in thousands, except for share and per share amounts) | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value
Non-vested at beginning of year | 134,708 |  |  | $ | 8.49 |  |  | 209,921 |  |  | $ | 13.59 |  |  | 263,989 |  |  | $ | 9.05 |
Granted | 363,758 |  |  | $ | 7.46 |  |  | 127,943 |  |  | $ | 14.97 |  |  | 112,643 |  |  | $ | 24.74 |
Vested | (175,956 | ) |  | $ | 11.96 |  |  | (165,796 | ) |  | $ | 17.51 |  |  | (118,364 | ) |  | $ | 15.75 |
Forfeited (1) | (25,163 | ) |  | $ | 15.58 |  |  | (37,360 | ) |  | $ | 19.30 |  |  | (48,347 | ) |  | $ | 9.49 |
Non-vested at end of year | 297,347 |  |  | $ | 8.03 |  |  | 134,708 |  |  | $ | 8.49 |  |  | 209,921 |  |  | $ | 13.59 |
Summary of Option Activity | A summary of option activity under the Plans is presented below:
(in thousands, except for share and per share amounts) |  | Number of Options Outstanding and Exercisable |  | Weighted- Average Exercise Price |  | Aggregate Intrinsic Value |  | Weighted- Average Remaining Contractual Term (in years)
For the year ended December 31, 2014 |  |  |  |  |  |  |  |
Options outstanding, January 1, 2014 |  | 317,576 |  |  | $ | 5.07 |  |  |  |  |
Options granted |  | 30,000 |  |  | $ | 20.67 |  |  |  |  |
Options exercised |  | (260,126 | ) |  | $ | 4.30 |  |  |  |  |
Options expired / forfeited |  | (13,250 | ) |  | $ | 6.90 |  |  |  |  |
Options outstanding, December 31, 2014 |  | 74,200 |  |  | $ | 13.76 |  |  | $ | 670 |  |  | 3.0
Options vested and exercisable as of December 31, 2014 |  | 34,199 |  |  | $ | 8.44 |  |  | $ | 491 |  |  | 1.6
For the year ended December 31, 2015 |  |  |  |  |  |  |  |
Options outstanding, January 1, 2015 |  | 74,200 |  |  | $ | 13.76 |  |  |  |  |
Options granted |  | 56,250 |  |  | $ | 13.87 |  |  |  |  |
Options exercised |  | — |  |  | $ | — |  |  |  |  |
Options expired / forfeited |  | (24,200 | ) |  | $ | 7.59 |  |  |  |  |
Options outstanding, December 31, 2015 |  | 106,250 |  |  | $ | 15.22 |  |  | $ | — |  |  | 3.8
Options vested and exercisable as of December 31, 2015 |  | 82,915 |  |  | $ | 14.04 |  |  | $ | — |  |  | 3.9
For the year ended December 31, 2016 |  |  |  |  |  |  |  |
Options outstanding, January 1, 2016 |  | 106,250 |  |  | $ | 15.22 |  |  |  |  |
Options granted (1) |  | 546,196 |  |  | $ | 11.10 |  |  |  |  |
Options exercised |  | — |  |  | $ | — |  |  |  |  |
Options expired / forfeited |  | (20,000 | ) |  | $ | 16.90 |  |  |  |  |
Options outstanding, December 31, 2016 |  | 632,446 |  |  | $ | 11.61 |  |  | $ | 183 |  |  | 4.0
Options vested and exercisable as of December 31, 2016 |  | 247,780 |  |  | $ | 13.30 |  |  | $ | 69 |  |  | 3.4
(1) | Included in options granted are 243,750 awards granted that were initially granted on a contingent basis and became exercisable as a result of the automatic expiration of the same number of Stock Appreciation Rights, as a result of stockholder approval of Amendment No. 4 of the 2007 Plan. See "Stock Appreciation Rights" section below for a discussion of the provisions of the exchange and incremental expense recognized.
Schedule of Equity Instruments, Other than Options Activity | A summary of SAR activity under the Plans is presented below:
(in thousands, except for share and per share amounts) |  | Number of SAR's Outstanding and Exercisable |  | Weighted- Average Exercise Price |  | Aggregate Intrinsic Value |  | Weighted- Average Remaining Contractual Term (in years)
For the year ended December 31, 2015 |  |  |  |  |  |  |  |
SAR's outstanding as of January 1, 2015 |  | — |  |  | $ | — |  |  |  |  |
Granted |  | 243,750 |  |  | $ | 13.87 |  |  |  |  |
Exercised |  | — |  |  | $ | — |  |  |  |  |
Expired / forfeited |  | — |  |  | $ | — |  |  |  |  |
SAR's outstanding as of December 31, 2015 |  | 243,750 |  |  | $ | 13.87 |  |  | $ | — |  |  | 4.5 |
SAR's vested and exercisable as of December 31, 2015 |  | 43,750 |  |  | $ | 13.87 |  |  | $ | — |  |  | — |
For the year ended December 31, 2016 |  |  |  |  |  |  |  |
SAR's outstanding as of January 1, 2016 |  | 243,750 |  |  | $ | 13.87 |  |  |  |  |  |
Granted |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | — |  |  | $ | — |  |  |  |  |
Expired / forfeited |  | (243,750 | ) |  | $ | 13.87 |  |  |  |  |
SAR's outstanding as of December 31, 2016 |  | — |  |  | $ | — |  |  | $ | — |  |  | — |
SAR's vested and exercisable as of December 31, 2016 |  | — |  |  | $ | — |  |  | $ | — |  |  | — |
A summary of the status and activity of non-vested PSU's is presented in the following table:
|  | For the Years Ended December 31.
|  | 2016 |  | 2015 |  | 2014
(in thousands, except for share and per share amounts) |  | Units |  | Weighted-Average Grant-Date Fair Value |  | Units |  | Weighted-Average Grant-Date Fair Value |  | Units |  | Weighted-Average Grant-Date Fair Value
Non-vested at beginning of year |  | 169,334 |  |  | $ | 26.38 |  |  | 142,357 |  |  | $ | 30.65 |  |  | 89,578 |  |  | $ | 26.04 |
Granted (1) |  | — |  |  | $ | — |  |  | 69,218 |  |  | $ | 20.10 |  |  | 57,547 |  |  | $ | 37.45 |
Vested (1) |  | (119,818 | ) |  | $ | 26.87 |  |  | (13,763 | ) |  | $ | 30.52 |  |  | — |  |  | $ | — |
Forfeited / Canceled (1) (2) |  | — |  |  | $ | — |  |  | (28,478 | ) |  | $ | 30.44 |  |  | (4,768 | ) |  | $ | 26.04 |
Non-vested at end of year |  | 49,516 |  |  | $ | 25.20 |  |  | 169,334 |  |  | $ | 26.38 |  |  | 142,357 |  |  | $ | 30.65 |
(1) The number of units shown in the table above are based on target performance. The final number of shares of common stock issued may vary depending on the achievement of market conditions established within the awards, which could result in the actual number of shares issued ranging from zero to a maximum of two times the number of units shown in the above table. (2) Included within the 2015 forfeited / canceled units are PSU's related to a former executive that were clawed back. The Company recognized $0.2 million within Other Income line item on the Consolidated Statement of Operations related to these awards.
Schedule of Performance-Based Units, Settled | The following table shows the PSUs that were settled by issuing the Company's common stock relative to a peer group performance index and broad stock index.
|  | Year of Grant |  | Net Number of Issued Shares upon Vesting |  | Shares Withheld to Settle Tax Withholding Obligations |  | TSR Multiple Range |  | Russell 3000 Multiple
|  |  |  |  | Low |  | High |  | Low |  | High
For the year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2013 |  | 38,706 |  |  | 1,572 |  |  | 0.63 |  |  | 1.00 |  |  | — |  |  | — |
|  | 2014 |  | 11,487 |  |  | — |  |  | 0.63 |  |  | 0.63 |  |  | — |  |  | — |
|  | 2015 |  | 13,529 |  |  | — |  |  | 0.50 |  |  | 0.50 |  |  | — |  |  | — |
For the year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2013 |  | 8,768 |  |  | 3,954 |  |  | 1.75 |  |  | 1.75 |  |  | 2.00 |  |  | 2.00 |
|  | 2014 |  | 2,506 |  |  | 1,145 |  |  | 0.63 |  |  | 0.75 |  |  | — |  |  | 0.75 |

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