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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Stock-Based Compensation Expense

The following table summarizes the Company’s stock-based compensation expense for the years ended December 31, 2015, 2014 and 2013 (in thousands):

		Year Ended December 31,
		2015				2014				2013
Time-based restricted stock		$	2,704			$	2,974			$	2,461
Performance-based restricted stock			1,562				727				—
Stock appreciation rights			525				1,035				1,251
Employee stock purchase plan			70				71				99
Total stock-based compensation		$	4,861			$	4,807			$	3,811

Summary of Assumptions Used to Estimate Fair Value of Each SAR

For SARs issued in the years ended December 31, 2015, 2014 and 2013, respectively, the assumptions shown in the following table were used:

		Year Ended December 31,
		2015				2014				2013
Dividend yield			0	%			0	%			0	%
Average risk-free interest rate			1.6	%			1.7	%			0.7	%
Expected term (years)			5				5				5
Expected volatility			42.9	%			52.6	%			63.7	%

SAR Activity

SAR activity under the Plan and all predecessor stock incentive plans is as follows:

		SARs				Weighted-Average Grant Price Per Share				Weighted- Average Remaining Contractual Life (Years)				Aggregate Intrinsic Value as of December 31, 2015
Outstanding at December 31, 2012			1,374,380			$	9.28
Granted			121,176			$	21.95
Exercised			(749,334	)		$	7.70
Canceled			(7,028	)		$	13.10
Outstanding at December 31, 2013			739,194			$	12.93
Granted			3,866			$	37.88
Exercised			(218,826	)		$	10.96
Canceled			(8,404	)		$	4.74
Outstanding at December 31, 2014			515,830			$	13.98
Granted			15,585			$	41.19
Exercised			(263,626	)		$	13.86
Canceled			(5,712	)		$	21.94
Outstanding at December 31, 2015			262,077			$	13.13				5.7			$	5,948,519
Vested at December 31, 2015			229,415			$	13.34				5.3			$	5,670,343
Exercisable at December 31, 2015			229,415			$	13.34				5.3			$	5,670,343

Stock Option Activity

Stock option activity under the Plan and all predecessor stock incentive plans is as follows:

		Options				Weighted- Average Exercise Price Per Share				Weighted- Average Remaining Contractual Life (Years)				Aggregate Intrinsic Value as of December 31, 2015
Outstanding at December 31, 2012			241,276			$	20.19
Granted			—			$	—
Exercised			(186,968	)		$	24.92
Canceled			(12,020	)		$	18.16
Outstanding at December 31, 2013			42,288			$	20.05
Granted			—			$	—
Exercised			(27,942	)		$	35.73
Canceled			(1,188	)		$	17.92
Outstanding at December 31, 2014			13,158			$	23.36
Granted			—			$	—
Exercised			(13,158	)		$	50.37
Canceled			—			$	—
Outstanding at December 31, 2015			—			$	—				—			$	—
Vested at December 31, 2015			—			$	—				—			$	—
Exercisable at December 31, 2015			—			$	—				—			$	—

Time-Based Restricted Stock [Member]

Restricted Stock Activity

Time-based restricted stock activity under the Plan and all predecessor stock incentive plans is as follows:

		Time-based Restricted Stock				Weighted-Average Grant Price Per Share
Nonvested at December 31, 2012			429,370			$	12.08
Granted			94,030			$	22.21
Vested			(139,594	)		$	22.28
Forfeited			(832	)		$	16.16
Nonvested at December 31, 2013			382,974			$	13.78
Granted			66,511			$	32.70
Vested			(116,641	)		$	33.73
Forfeited			(3,282	)		$	16.61
Nonvested at December 31, 2014			329,562			$	18.89
Granted			57,598			$	43.81
Vested			(230,704	)		$	42.37
Forfeited			(48,549	)		$	20.20
Nonvested at December 31, 2015			107,907			$	29.43

Performance-Based Restricted Stock [Member]

Restricted Stock Activity

Performance-based restricted stock activity under the Plan is as follows:

		Performance-based Restricted Stock				Weighted-Average Grant Price Per Share
Nonvested at December 31, 2014			42,676			$	33.72
Granted			34,638			$	43.89
Vested			(35,679	)		$	41.91
Forfeited			(12,538	)		$	38.12
Nonvested at December 31, 2015			29,097			$	39.38

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