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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Share-based Compensation Plans | The Company’s share-based compensation plans at December 31, 2014 follow:
|  | Shares |  |  | Shares Underlying |  |  | Shares |
|  | Authorized |  |  | Awards |  |  | Available |
Plan Name |  | for Grant |  |  | Outstanding |  |  | for Grant |
Patterson-UTI Energy, Inc. 2014 Long-Term Incentive Plan |  |  | 9,100,000 |  |  |  | 1,242,600 |  |  |  | 6,478,876 |
Patterson-UTI Energy, Inc. 2005 Long-Term Incentive Plan, as amended |  |  | — |  |  |  | 6,070,794 |  |  |  | — |
Patterson-UTI Energy, Inc. Amended and Restated 1997 Long-Term Incentive Plan, as amended (“1997 Plan”) |  |  | — |  |  |  | 300,000 |  |  |  | — |
Weighted-Average Assumptions Used to Estimate Grant Date Fair Values for Stock Options Granted | Weighted-average assumptions used to estimate grant date fair values for stock options granted in the years ended December 31, 2014, 2013 and 2012 follow:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Volatility |  |  | 35.89 | % |  |  | 41.36 | % |  |  | 48.79 | %
Expected term (in years) |  |  | 5.00 |  |  |  | 5.00 |  |  |  | 5.00 |
Dividend yield |  |  | 1.17 | % |  |  | 0.89 | % |  |  | 1.21 | %
Risk-free interest rate |  |  | 1.76 | % |  |  | 0.70 | % |  |  | 0.87 | %
Stock Option Activity | Stock option activity for the year ended December 31, 2014 follows:
|  |  |  |  |  | Weighted-average |
|  | Shares |  |  | exercise price |
Outstanding at beginning of year |  |  | 7,319,695 |  |  | $ | 21.23 |
Granted |  |  | 491,750 |  |  | $ | 32.32 |
Exercised |  |  | (1,725,195 | ) |  | $ | 20.54 |
Cancelled |  |  | — |  |  | $ | — |
Expired |  |  | — |  |  |  | — |
Outstanding at end of year |  |  | 6,086,250 |  |  | $ | 22.32 |
Exercisable at end of year |  |  | 5,224,223 |  |  | $ | 21.45 |
Additional Information with Respect to Options Granted, Vested and Exercised | Additional information with respect to options granted, vested and exercised during the years ended December 31, 2014, 2013 and 2012 follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Weighted-average grant date fair value of stock options granted (per share) |  | $ | 9.81 |  |  | $ | 7.59 |  |  | $ | 6.37 |
Aggregate grant date fair value of stock options vested during the year (in thousands) |  | $ | 5,173 |  |  | $ | 5,240 |  |  | $ | 5,512 |
Aggregate intrinsic value of stock options exercised (in thousands) |  | $ | 21,862 |  |  | $ | 8,683 |  |  | $ | 138 |
Restricted Stock Activity | Restricted stock activity for the year ended December 31, 2014 follows:
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | average Grant |
|  | Shares |  |  | Date Fair Value |
Non-vested restricted stock outstanding at beginning of year |  |  | 1,496,692 |  |  | $ | 20.84 |
Granted |  |  | 813,150 |  |  | $ | 33.07 |
Vested |  |  | (755,564 | ) |  | $ | 21.67 |
Forfeited |  |  | (61,219 | ) |  | $ | 24.66 |
Non-vested restricted stock outstanding at end of year |  |  | 1,493,059 |  |  | $ | 26.93 |
Restricted Stock Unit Activity | Restricted stock unit activity for the year ended December 31, 2014 follows:
|  |  |  |  |  | Weighted-average |
|  |  |  |  |  | Grant Date Fair |
|  | Shares |  |  | Value |
Non-vested restricted stock units outstanding at beginning of year |  |  | 20,256 |  |  | $ | 20.67 |
Granted |  |  | 24,250 |  |  | $ | 34.66 |
Vested |  |  | (9,754 | ) |  | $ | 22.13 |
Forfeited |  |  | (667 | ) |  | $ | 21.09 |
Non-vested restricted stock units outstanding at end of year |  |  | 34,085 |  |  | $ | 30.20 |
Stock-Settled Performance Units | The total target number of shares with respect to the Stock-Settled Performance Units is set forth below:
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Target number of shares |  |  | 154,000 |  |  |  | 236,500 |  |  |  | 192,000 |  |  |  | 144,375 |  |  |  | 178,750 |
Fair Value of Stock-Settled Performance Units | The fair value of the Stock-Settled Performance Units is set forth below (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Aggregate fair value at date of grant |  | $ | 5,388 |  |  | $ | 5,564 |  |  | $ | 3,065 |  |  | $ | 5,569 |  |  | $ | 3,117 |
Compensation Expense Associated with Stock-Settled Performance Units | Compensation expense associated with the Stock-Settled Performance Units is set forth below (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Year ended December 31, 2014 |  | $ | 1,347 |  |  | $ | 1,855 |  |  | $ | 1,022 |  |  | $ | 464 |  |  | NA |
Year ended December 31, 2013 |  | NA |  |  | $ | 1,391 |  |  | $ | 1,022 |  |  | $ | 1,856 |  |  | $ | 260 |
Year ended December 31, 2012 |  | NA |  |  | NA |  |  | $ | 766 |  |  | $ | 1,856 |  |  | $ | 1,039 |
Employee Stock Option |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Additional Information with Respect to Non-vested Shares | Additional information as of December 31, 2014 with respect to these non-vested options follows:
Aggregate intrinsic value (in thousands) |  | $ | 33 |
Weighted-average remaining contractual term |  | 8.77 years |
Weighted-average remaining expected term |  | 3.77 years |
Weighted-average remaining vesting period |  | 1.63 years |
Unrecognized compensation cost |  | $6.0 million |
Restricted Stock Awards |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Additional Information with Respect to Non-vested Shares | As of December 31, 2014, approximately 1.4 million shares of non-vested restricted stock outstanding are expected to vest. Additional information as of December 31, 2014 with respect to these non-vested shares follows:
Aggregate intrinsic value |  | $23.2 million
Weighted-average remaining vesting period |  | 1.83 years
Unrecognized compensation cost |  | $29.0 million

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