XML 46 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share Based Compensation Restricted Stock Activity
A summary of our restricted stock awards from January 1, 2011 to December 31, 2013 is as follows:
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2011
1,548,698

 
$
5.49

Granted
308,486

 
11.54

Additional shares from dividends
18,302

 
9.23

Forfeited
(17,560
)
 
7.02

Vested
(847,799
)
 
6.01

Unvested balance at December 31, 2011
1,010,127

 
6.97

Granted
365,599

 
9.84

Additional shares from dividends
8,507

 
10.07

Forfeited
(11,563
)
 
10.05

Vested
(696,559
)
 
5.39

Unvested balance at December 31, 2012
676,111

 
10.10

Granted
323,526

 
9.33

Additional shares from dividends
1,040

 
9.30

Forfeited
(16,934
)
 
9.65

Vested
(400,722
)
 
9.94

Unvested balance at December 31, 2013
583,021

 
$
9.80
Market Stock Units [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of our MSUs from January 1, 2011 to December 31, 2013 is shown in the following table. We have not issued MSU awards since 2012.
 
Number of
Units
 
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2011
84,854

 
$
9.87

Granted
72,599

 
13.43

Additional units from dividends
4,122

 
9.23

Unvested balance at December 31, 2011
161,575

 
11.45

Granted
89,990

 
11.14

Additional units from dividends
7,277

 
10.18

Unvested balance at December 31, 2012
258,842

 
11.31

Additional units from dividends
6,452

 
10.00

Vested
(90,620
)
 
9.86

Unvested balance at December 31, 2013
174,674

 
$
12.01
Schedule of Share-based Payment Award, Stock Units, Valuation Assumptions
The determination of the grant-date fair values of the awards included the following assumptions:
 
 
Volatility
 
Risk-Free Rate
 
Fair Value at Grant Date
March 2011 Award
 
64.0
%
 
1.20
%
 
$
13.43

March 2012 Award
 
62.0
%
 
0.43
%
 
$
11.14
Performance Stock Units [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
The simulations also considered the share performance of the Company and the peer group. A summary of our PSUs from January 1, 2013 to December 31, 2013 is as follows:
 
Number of
Units
 
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2013
—

 
$
—

Granted
217,949

 
9.64

Additional units from dividends
5,227

 
10.37

Vested
—

 
—

Unvested balance at December 31, 2013
223,176

 
$
9.66
Schedule of Share-based Payment Award, Stock Units, Valuation Assumptions
The fair values of the PSU awards are determined using a Monte Carlo simulation performed by a third-party valuation firm. The determination of the grant-date fair values of the awards included the following assumptions:
 
 
Volatility
 
Risk-Free Rate
 
Fair Value at Grant Date
March 2013 Award
 
39.2
%
 
0.36
%
 
$
9.55

May 2013 Award
 
37.9
%
 
0.40
%
 
$
10.41