XML 67 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employer Share Plans
 6 Months Ended
Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Employer Share Plans
10. Employer Share Plans

Effective May 15, 2014, CBIZ shareholders approved a new plan, the CBIZ, Inc. 2014 Stock Incentive Plan (“2014 Plan”). Under the 2014 Plan, a maximum of 9.6 million stock options, restricted stock awards or other stock-based compensation awards may be granted. The 2014 Plan is in addition to the 2002 Amended and Restated CBIZ, Inc. Stock Incentive Plan (“2002 Plan”), of which CBIZ has granted various stock-based awards through June 30, 2014. The terms and vesting schedules for stock-based awards vary by type and date of grant. Compensation expense for stock-based awards recognized during the three and six months ended June 30, 2014 and 2013 was as follows (in thousands):

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2014      2013      2014      2013  

Stock options

    $ 666       $ 730       $ 1,315       $ 1,449   

Restricted stock awards

      932         758         1,672         1,475   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total stock-based compensation expense

    $ 1,598       $ 1,488       $ 2,987       $ 2,924   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

Stock award activity during the six months ended June 30, 2014 was as follows (in thousands, except per share data):

 

     Stock
Options		      Restricted Stock
Awards		  
     Number
of
Options		     Weighted
Average
Exercise
Price Per
Share		      Number
of
Shares		     Weighted
Average
Grant-Date
Fair
Value (1)		  

Outstanding at beginning of year

      6,035      $ 6.88         1,083      $ 6.51   

Granted

      1,328      $ 8.36         475      $ 8.44   

Exercised or released

      (914 )    $ 7.70         (461 )    $ 6.67   

Expired or canceled

      (48 )    $ 6.62         (7 )    $ 6.37   
  

 

 

       

 

 

    

Outstanding at June 30, 2014

      6,401      $ 7.08         1,090      $ 7.28   
  

 

 

       

 

 

    

Exercisable at June 30, 2014

      3,321      $ 7.21        
  

 

 

         

 

(1) Represents weighted average market value of the shares; awards are granted at no cost to the recipients.