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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2014
Share-Based Compensation  
Schedule of the compensation cost charged against income for plans included in selling, general & administrative expenses

The compensation cost charged against income for those plans is included in selling, general & administrative expenses as follows (in thousands):

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Total share-based compensation expense

 

$

465 

 

$

328 

 

$

730 

 

$

507 

 

 

Schedule of stock option activity under all plans

The following is a summary of stock option activity under all plans for the six-month period ended June 30, 2014:

 

 

 

Shares Under
Options

 

Weighted
Average
Exercise Price
(per share)

 

Weighted
Average
Remaining
Contractual
Life
(in years)

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at December 31, 2013

 

467,500

 

$

9.00

 

 

 

 

 

Granted

 

30,193

 

25.05

 

 

 

 

 

Exercised

 

(159,336

)

4.23

 

 

 

 

 

Cancelled or expired

 

 

 

 

 

 

 

Outstanding at June 30, 2014

 

338,357

 

$

12.67

 

4.31

 

$

3,892

 

Exercisable at June 30, 2014

 

249,608

 

$

9.95

 

4.45

 

$

3,545

 

Vested and expected to vest at June 30, 2014

 

338,357

 

$

12.67

 

4.31

 

$

3,892

 

 

Schedule of assumptions used to determine the fair value of options using Black Scholes option pricing model

 

Expected volatility

32.8% to 37.9%

Expected dividends

None

Risk free interest rate

0.7% to 0.8%

Expected term

3.8 to 5.0 years

 

   

Summary of Restricted Stock Units ( RSUs ) activity

 

 

 

Restricted
Stock Units

 

Weighted Average
Award Date
Fair Value

 

Unvested at December 31, 2013

 

50,900

 

$

11.94

 

Awarded

 

22,338

 

25.94

 

Shares vested

 

(30,253

)

10.11

 

Forfeited / cancelled

 

 

 

Unvested at June 30, 2014

 

42,985

 

$

17.70