XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Note 6 - Stock-based Compensation | 6 Months Ended
--- | ---
Jun. 30, 2018
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Stock-Based Compensation Under the Company’s equity incentive plans, directors and eligible employees may be granted incentive or non-statutory stock options, restricted stock units (“RSUs”) and/or awarded non-vested stock. As of June 30, 2018, there were no stock options outstanding. There were 35,880 and 37,540 stock option shares exercised in the six months ended June 30, 2018 and 2017, respectively. The Company received $838,000 from the exercise of stock options for 35,880 shares at $23.37 per share that had an aggregate intrinsic value of $718,000 during the six months ended June 30, 2018 compared to $877,000 from the exercise of stock options that had an aggregate intrinsic value of $534,000 during the six months ended June 30, 2017. RSUs are granted under the Company’s long-term incentive plan at no cost to the recipient. RSUs generally vest ratably over three years or cliff vest after one or three years of continued employment from the date of the grant. While a portion of RSUs are time-vesting awards, others vest subject to the attainment of specified performance goals referred to as “Performance-based RSUs.” All RSUs are subject to forfeiture until vested. Performance-based RSUs are granted at the target amount of awards. Based on the Company’s attainment of specified performance goals and consideration of market conditions, the number of shares that vest can be adjusted to a minimum of zero and to a maximum of 150% of the target. The amount of performance-based RSUs that are eligible to vest is determined at the end of each performance period and is then added together to determine the total number of performance shares that are eligible to vest. Performance-based RSUs generally cliff vest three years from the date of grant. Compensation costs for the time-based awards are based on the quoted market price of the Company’s stock at the grant date. Compensation costs associated with performance-based RSUs are based on grant date fair value, which considers both market and performance conditions. Compensation costs of both time-based and performance-based awards are recognized on a straight-line basis from the grant date until the vesting date of each grant. The following table presents restricted stock unit activity during the six months ended June 30, 2018:
|  | Time-Based RSUs |  |  | Performance-Based RSUs |
|  |  |  |  |  | Weighted-Average |  |  |  |  |  |  | Weighted-Average |
|  |  |  |  |  | Grant Date |  |  |  |  |  |  | Grant Date |
|  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Balance at December 31, 2017 |  |  | 221,738 |  |  |  | 32.72 |  |  |  | 339,872 |  |  |  | 33.52 |
Granted |  |  | 128,589 |  |  |  | 43.36 |  |  |  | 55,455 |  |  |  | 39.46 |
Vested |  |  | (65,721 | ) |  |  | 41.59 |  |  |  | (68,459 | ) |  |  | 41.22 |
Forfeited |  |  | (8,774 | ) |  |  | 35.29 |  |  |  | - |  |  |  | - |
Balance at June 30, 2018 |  |  | 275,832 |  |  |  | 35.48 |  |  |  | 326,868 |  |  |  | 32.91 |
The compensation expense recorded for RSUs was $1.9 million for the three months ended June 30, 2018, compared to $1.4 million in the same period a year ago. For the six months ended June 30, 2018 and 2017, compensation expense recorded relating to the RSUs was $3.4 million and $2.6 million, respectively. Unrecognized stock-based compensation expense related to RSUs was $13.3 million and $10.6 million as of June 30, 2018 and 2017, respectively. These costs are expected to be recognized over the next 2.1 years and 2.2 years for time-based and performance-based RSUs, respectively. As of June 30, 2018, 2,591,461 shares were available under the Company’s 2005 Incentive Plan (as Amended and Restated) for future grants. Tax benefit from share-based payment arrangements of $0.8 million reduced income tax expense in the first six months of 2018 compared to $2.6 million in the same period a year ago.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration