XML 29 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
Equity Incentive Plan
 9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
Note 10 – Equity Incentive Plan
The Company estimates the fair value of restricted stock grants at the date of grant and amortizes those amounts into expense on a straight line basis or amount vested, if greater, over the appropriate vesting period.
 
As of September 30, 2016, there was $5.3 million of total unrecognized compensation costs related to the outstanding restricted stock, which is expected to be recognized over a weighted average period of 3.3 years. The Company used 0% for both the discount factor and forfeiture rate for determining the fair value of restricted stock.
 
The holder of a restricted stock award is generally entitled at all times on and after the date of issuance of the restricted shares to exercise the rights of a stockholder of the Company, including the right to vote the shares and the right to receive dividends on the shares.
 
Restricted stock activity is summarized as follows (in thousands):
 
 
 
Shares
Outstanding
 
Weighted Average
Grant Date
Fair Value
 
 
 
 
 
 
 
 
 
Unvested restricted stock at December 31, 2015
 
 
212,943
 
$
29.07
 
 
 
 
 
 
 
 
 
Restricted stock granted
 
 
83,458
 
$
36.65
 
Restricted stock vested
 
 
(69,774)
 
$
26.87
 
Restricted stock forfeited
 
 
(6,577)
 
$
35.58
 
 
 
 
 
 
 
 
 
Unvested restricted stock at September 30, 2016
 
 
220,050
 
$
32.43