XML 55 R21.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Stock-Based Awards | 12 Months Ended
--- | ---
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Awards | 13. Stock-Based Awards The Company grants equity awards to employees and directors which include restricted stock awards, restricted stock units and stock options. Stock options may be issued for terms of ten years and may vest after at least one year and have an exercise price equal to the Company’s stock price on the grant date. Restricted stock awards and restricted stock units are generally valued based on the Company’s stock price on the grant date. The Company estimates the fair value for stock options (when granted) using the Black-Scholes option pricing model. All restricted stock awards, restricted stock units and stock option awards require future service as a condition of vesting with certain awards subject to acceleration under certain conditions. On June 20, 2016, the Company’s stockholders approved a new equity award plan under which the Company can issue up to 10,000,000 shares of common stock (less one share for every share granted under prior plans since March 31, 2016 and inclusive of shares available under the prior plans as of March 31, 2016) in the form of stock options and other stock-based awards. The Company also has issued from time to time stock-based awards outside a plan. For the years ended December 31, 2017, 2016 and 2015, total stock-based compensation expense was $14,717, $14,892 and $10,900, respectively, and the related tax benefit recognized in the Consolidated Statements of Operations was $5,402, $5,324 and $4,149, respectively. Stock-based compensation expense for the year ended December 31, 2017 included $525 as a result of a modification to accelerate vesting of certain awards on December 29, 2017 made to 20 employees, which were originally scheduled to vest in January 2018. The actual tax benefit realized for the tax deductions for share-based compensation was $7,684, $12,877 and $67,532 for the years ended December 31, 2017, 2016 and 2015, respectively. A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:
|  | December 31, 2017 |
|  | Unrecognized Stock- Based Compensation |  |  | Average Remaining Vesting Period |
Employees and directors |  | $ | 16,715 |  |  |  | 1.70 |
Stock Options A summary of option activity is as follows:
|  | Options |  |  | Weighted-Average Exercise Price |
Outstanding January 1, 2015 |  |  | 5,330,070 |  |  | $ | 1.61 |
Granted |  |  | — |  |  |  | — |
Forfeitures/expirations |  |  | — |  |  |  | — |
Exercised |  |  | (3,785,473 | ) |  |  | 1.19 |
Outstanding at December 31, 2015 |  |  | 1,544,597 |  |  | $ | 2.62 |
Granted |  |  | — |  |  |  | — |
Forfeitures/expirations |  |  | — |  |  |  | — |
Exercised |  |  | (176,350 | ) |  |  | 1.11 |
Outstanding at December 31, 2016 |  |  | 1,368,247 |  |  | $ | 2.82 |
|  | Options |  |  | Weighted-Average Exercise Price |
Granted |  |  | — |  |  |  | — |
Forfeitures/expirations |  |  | — |  |  |  | — |
Exercised |  |  | (209,419 | ) |  |  | 3.17 |
Outstanding at December 31, 2017(1) |  |  | 1,158,828 |  |  | $ | 2.75 |
(1) | Expire on dates ranging from August 24, 2018 to November 15, 2021.
The total intrinsic value of options exercised for the years ended December 31, 2017, 2016 and 2015 was $1,643, $1,794 and $76,329, respectively. Cash received from option exercise for the years ended December 31, 2017, 2016 and 2015 was $532, $195 and $4,520, respectively. The following table summarizes information on stock options outstanding at December 31, 2017:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Shares |  |  | Weighted- Average Remaining Life (Years) |  |  | Weighted- Average Exercise Price |  |  | Shares |  |  | Weighted- Average Remaining Life (Years) |  |  | Weighted- Average Exercise Price |
$0.70 – $0.70 |  |  | 415,000 |  |  |  | 1.1 |  |  | $ | 0.70 |  |  |  | 415,000 |  |  |  | 1.1 |  |  | $ | 0.70 |
$1.07 – $1.07 |  |  | 50,865 |  |  |  | 0.3 |  |  |  | 1.07 |  |  |  | 50,865 |  |  |  | 0.3 |  |  |  | 1.07 |
$2.15 – $2.26 |  |  | 312,426 |  |  |  | 1.5 |  |  |  | 2.21 |  |  |  | 312,426 |  |  |  | 1.5 |  |  |  | 2.21 |
$5.05 – $5.05 |  |  | 250,000 |  |  |  | 3.1 |  |  |  | 5.05 |  |  |  | 250,000 |  |  |  | 3.1 |  |  |  | 5.05 |
$6.36 – $6.82 |  |  | 73,037 |  |  |  | 3.4 |  |  |  | 6.46 |  |  |  | 73,037 |  |  |  | 3.4 |  |  |  | 6.46 |
$7.01 – $8.51 |  |  | 57,500 |  |  |  | 3.8 |  |  |  | 7.32 |  |  |  | 57,500 |  |  |  | 3.8 |  |  |  | 7.32 |
|  |  | 1,158,828 |  |  |  | 1.9 |  |  | $ | 2.75 |  |  |  | 1,158,828 |  |  |  | 1.9 |  |  | $ | 2.75 |
At December 31, 2017, outstanding options for 1,158,828 shares (all of which were exercisable) had a remaining average contractual term of 1.9 years and an intrinsic value of $11,352. Restricted Stock and Restricted Stock Units The Company grants restricted stock awards and restricted stock units to employees and directors. All such awards require future service as a condition of vesting with certain awards subject to acceleration under certain conditions. Restricted stock awards and restricted stock units generally vest over three years. A summary of restricted stock activity is as follows:
|  | Restricted Stock Awards |  |  | Restricted Stock Units |
|  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested Balance at January 1, 2015 |  |  | 1,513,939 |  |  | $ | 11.22 |  |  |  | — |  |  | $ | — |
Granted |  |  | 886,413 |  |  |  | 19.72 |  |  |  | — |  |  |  | — |
Vested |  |  | (753,917 | ) |  |  | 10.05 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (25,709 | ) |  |  | 17.30 |  |  |  | — |  |  |  | — |
Unvested Balance at December 31, 2015 |  |  | 1,620,726 |  |  | $ | 16.32 |  |  |  | — |  |  | $ | — |
Granted |  |  | 1,687,553 |  |  |  | 11.19 |  |  |  | — |  |  |  | — |
Vested |  |  | (846,386 | ) |  |  | 13.98 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (25,439 | ) |  |  | 16.17 |  |  |  | — |  |  |  | — |
Unvested Balance at December 31, 2016 |  |  | 2,436,454 |  |  | $ | 13.58 |  |  |  | — |  |  | $ | — |
Granted |  |  | 1,068,550 |  |  |  | 10.51 |  |  |  | 7,231 |  |  |  | 10.49 |
Vested |  |  | (1,641,870 | ) |  |  | 13.64 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (46,468 | ) |  |  | 12.36 |  |  |  | (1,553 | ) |  |  | 10.83 |
Unvested Balance at December 31, 2017 |  |  | 1,816,666 |  |  | $ | 11.75 |  |  |  | 5,678 |  |  | $ | 10.40 |
The aggregate fair value of awards that vested during the years ending December 31, 2017, 2016 and 2015 was $18,285, $9,842 and $13,362, respectively.

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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration