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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Schedule of Information with Respect to Outstanding and Exercisable Stock Options

The following table summarizes information with respect to all outstanding and exercisable stock options under all of our plans as of December 31, 2017:

 

 

 

 

 

 

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of

Exercise Prices

 

 

Number of

Options

Outstanding

 

 

Weighted Average

Exercise Price

 

 

Weighted Average

Remaining

Contractual Term

(in Years)

 

 

Number

Exercisable

 

 

Weighted

Average

Exercise Price

 

$

2.65

 

 

$

3.93

 

 

 

347,248

 

 

$

3.29

 

 

 

6.28

 

 

 

347,248

 

 

$

3.29

 

$

4.07

 

 

$

4.15

 

 

 

307,380

 

 

$

4.14

 

 

 

7.65

 

 

 

153,690

 

 

$

4.14

 

$

4.49

 

 

$

4.49

 

 

 

683,104

 

 

$

4.49

 

 

 

8.18

 

 

 

170,776

 

 

$

4.49

 

$

5.00

 

 

$

6.51

 

 

 

346,012

 

 

$

6.00

 

 

 

6.92

 

 

 

282,094

 

 

$

6.05

 

$

7.22

 

 

$

8.30

 

 

 

324,832

 

 

$

8.07

 

 

 

8.56

 

 

 

59,126

 

 

$

7.31

 

$

8.63

 

 

$

18.64

 

 

 

330,929

 

 

$

14.26

 

 

 

2.89

 

 

 

246,864

 

 

$

15.74

 

$

21.80

 

 

$

22.13

 

 

 

298,556

 

 

$

22.02

 

 

 

2.02

 

 

 

298,556

 

 

$

22.02

 

$

26.15

 

 

$

26.15

 

 

 

36,144

 

 

$

26.15

 

 

 

1.15

 

 

 

36,144

 

 

$

26.15

 

$

29.02

 

 

$

29.02

 

 

 

49,848

 

 

$

29.02

 

 

 

1.85

 

 

 

49,848

 

 

$

29.02

 

$

30.67

 

 

$

30.67

 

 

 

144,000

 

 

$

30.67

 

 

 

2.05

 

 

 

144,000

 

 

$

30.67

 

 

 

 

 

 

 

 

 

 

2,868,053

 

 

$

9.86

 

 

 

6.03

 

 

 

1,788,346

 

 

$

12.28

 

 
Schedule of Information with Respect to all Outstanding Restricted Stock and Restricted Stock Units

The following table summarizes information with respect to all outstanding restricted stock and restricted stock units to be settled in shares of stock under our plans during the years ended December 31, 2017, 2016 and 2015:

 

 

 

Restricted Stock to be Settled in Shares of Stock

 

 

 

Shares

 

 

Weighted

Average

Grant-Date

Fair Value

Per Share

 

 

Units

 

 

Weighted

Average

Grant-Date

Fair Value

Per Unit

 

 

Total

 

Outstanding as of December 31, 2014

 

 

42,752

 

 

$

21.63

 

 

 

556,140

 

 

$

7.35

 

 

 

598,892

 

Granted

 

 

-

 

 

 

-

 

 

 

808,898

 

 

 

5.29

 

 

 

808,898

 

Vested

 

 

(39,969

)

 

 

21.62

 

 

 

(197,609

)

 

 

7.94

 

 

 

(237,578

)

Forfeited

 

 

(2,783

)

 

 

21.80

 

 

 

(409,558

)

 

 

6.33

 

 

 

(412,341

)

Outstanding as of December 31, 2015

 

 

-

 

 

$

-

 

 

 

757,871

 

 

$

5.55

 

 

 

757,871

 

Granted

 

 

-

 

 

 

-

 

 

 

1,555,828

 

 

 

4.58

 

 

 

1,555,828

 

Vested (1)

 

 

-

 

 

 

-

 

 

 

(381,850

)

 

 

5.98

 

 

 

(381,850

)

Forfeited

 

 

-

 

 

 

-

 

 

 

(219,645

)

 

 

5.06

 

 

 

(219,645

)

Outstanding as of December 31, 2016

 

 

-

 

 

$

-

 

 

 

1,712,204

 

 

$

4.63

 

 

 

1,712,204

 

Granted

 

 

-

 

 

 

-

 

 

 

289,392

 

 

 

8.49

 

 

 

289,392

 

Vested (1)

 

 

-

 

 

 

-

 

 

 

(422,284

)

 

 

4.64

 

 

 

(422,284

)

Forfeited

 

 

-

 

 

 

-

 

 

 

(125,489

)

 

 

5.56

 

 

 

(125,489

)

Outstanding as of December 31, 2017

 

 

-

 

 

$

-

 

 

 

1,453,823

 

 

$

5.32

 

 

 

1,453,823

 

 

 

 

(1)

The total vested awards include 6.3 thousand and 9.2 thousand of vested restricted stock units settled in cash for the years ended December 31, 2017 and 2016, respectively. These awards granted in 2015 for retention purposes are subject to accelerated vesting and cash settlement in the event of an involuntary not-for-cause termination of employment by the Company.
Schedule of Deferred Stock Units to be Settled in Shares

The following table summarizes information with respect to all deferred stock units during the years ended December 31, 2017, 2016 and 2015:

 

 

 

Deferred

Stock Units

to be Settled

in Shares

 

 

Weighted

Average

Grant-Date

Fair Value

Per Unit

 

Outstanding as of December 31, 2014

 

 

116,952

 

 

$

4.39

 

Granted

 

 

2,928

 

 

 

5.73

 

Vested

 

 

(19,492

)

 

 

4.39

 

Forfeited

 

 

(9,746

)

 

 

4.39

 

Outstanding as of December 31, 2015 (1)

 

 

90,642

 

 

$

4.43

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

(14,619

)

 

 

4.39

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2016 (1)

 

 

76,023

 

 

$

4.44

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2017 (1)

 

 

76,023

 

 

$

4.44

 

 

 

 

(1)

Includes vested but unreleased awards. These awards are included in total outstanding awards until they are released under the terms of the agreement.

Schedule of Restricted Stock Units to be Settled in Cash

The following table summarizes information with respect to all cash-settled restricted stock units for the years ended December 31, 2017, 2016 and 2015:

 

 

 

Restricted

Stock Units

to be Settled

in Cash

 

Outstanding as of December 31, 2014

 

 

1,842,455

 

Granted

 

 

873,154

 

Vested

 

 

(444,499

)

Forfeited

 

 

(696,060

)

Outstanding as of December 31, 2015

 

 

1,575,050

 

Granted

 

 

461,428

 

Vested

 

 

(610,680

)

Forfeited

 

 

(233,720

)

Outstanding as of December 31, 2016

 

 

1,192,078

 

Granted

 

 

-

 

Vested

 

 

(650,729

)

Forfeited

 

 

(69,621

)

Outstanding as of December 31, 2017

 

 

471,728

 

 
Summary of Total Stock Based Compensation Expense

Stock-Based Compensation Expense. Total stock-based compensation expense for the years ended December 31, 2017, 2016 and 2015 for all types of awards was as follows (dollars in thousands):

 

 

 

December 31,

 

Award Type

 

2017

 

 

2016

 

 

2015 (1)

 

Stock options

 

$

1,585

 

 

$

1,256

 

 

$

761

 

Restricted stock or units settled in stock

 

 

3,366

 

 

 

1,960

 

 

 

2,532

 

Restricted stock units settled in cash

 

 

4,134

 

 

 

5,569

 

 

 

1,447

 

Total stock-based compensation expense

 

$

9,085

 

 

$

8,785

 

 

$

4,740

 

 

 

(1)

Stock-based compensation expense for 2015 does not reflect $1.5 million of forfeitures related to our former Chief Executive Officer’s departure which was applied against the separation agreement payment of $2.5 million.
Schedule of Fair Value of Stock Option Award Granted Estimated on Date of Grant Using the Black-Scholes-Merton Option Pricing Model

The weighted average fair value per share of stock option awards granted during the years ended December 31, 2017, 2016 and 2015, and assumptions used to value stock options are as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Dividend yield

 

 

-

 

 

 

-

 

 

 

-

 

Risk-free interest rate

 

 

1.9

%

 

 

1.3

%

 

 

1.6

%

Weighted average volatility

 

 

64.2

%

 

 

70.4

%

 

 

73.2

%

Expected life (in years)

 

 

5.2

 

 

 

4.8

 

 

 

5.1

 

Weighted average grant date fair value per share of options granted

 

$

4.81

 

 

$

2.75

 

 

$

2.86

 

 
Employee Stock Option [Member]  
Summary of Stock Option Activity

Stock option activity during the years ended December 31, 2017, 2016 and 2015 under all of our plans was as follows:

 

 

 

Options

 

 

Weighted Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding as of December 31, 2014

 

 

3,781,964

 

 

$

12.88

 

 

 

 

 

 

 

Granted

 

 

848,705

 

 

 

4.83

 

 

 

 

 

 

 

Exercised

 

 

(303,035

)

 

 

2.73

 

 

 

 

$

620

 

Forfeited

 

 

(1,278,150

)

 

 

4.60

 

 

 

 

 

 

 

Cancelled

 

 

(391,761

)

 

 

20.87

 

 

 

 

 

 

 

Outstanding as of December 31, 2015

 

 

2,657,723

 

 

$

14.27

 

 

 

 

 

 

 

Granted

 

 

915,122

 

 

 

4.81

 

 

 

 

 

 

 

Exercised

 

 

(89,773

)

 

 

4.17

 

 

 

 

$

189

 

Forfeited

 

 

(120,964

)

 

 

5.11

 

 

 

 

 

 

 

Cancelled

 

 

(276,220

)

 

 

24.69

 

 

 

 

 

 

 

Outstanding as of December 31, 2016

 

 

3,085,888

 

 

$

11.18

 

 

 

 

 

 

 

Granted

 

 

365,709

 

 

 

8.67

 

 

 

 

 

 

 

Exercised

 

 

(288,618

)

 

 

8.18

 

 

 

 

$

250

 

Forfeited

 

 

(75,426

)

 

 

6.97

 

 

 

 

 

 

 

Cancelled

 

 

(219,500

)

 

 

29.67

 

 

 

 

 

 

 

Outstanding as of December 31, 2017

 

 

2,868,053

 

 

$

9.86

 

 

6.03 years

 

$

14,341

 

Exercisable as of December 31, 2017

 

 

1,788,346

 

 

$

12.28

 

 

4.63 years

 

$

7,622