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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2015
SHARE-BASED COMPENSATION  
Schedule of assumptions used to estimate the fair value of stock options granted

 

                                                                                                                                                                                    

 

 

2013

 

Risk free rate

 

 

2.47 

%

Volatility ratio

 

 

89.60 

%

Dividend yield

 

 

 

Annual exit rate

 

 

3.58 

%

Exercise multiple

 

 

4.10 

 

 

Summary of the option activity

 

                                                                                                                                                                                    

 

 

Number
of Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contract
Terms

 

Aggregate
Intrinsic Value

 

 

 

 

 

$

 

 

 

In Thousands of
U.S. Dollars

 

Options outstanding at January 1, 2015

 

 

846,113

 

 

12.21

 

5 years

 

 

11,794

 

Granted

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(167,587

)

 

11.14

 

 

 

 

 

 

Forfeited

 

 

(2,817

)

 

9.33

 

 

 

 

 

 

​  

​  

Options outstanding at December 31, 2015

 

 

675,709

 

 

12.44

 

3 years

 

 

12,354

 

​  

​  

Options vested or expected to be vested at December 31, 2015

 

 

673,105

 

 

12.45

 

3 years

 

 

12,302

 

​  

​  

Options exercisable at December 31, 2015

 

 

664,459

 

 

12.50

 

3 years

 

 

12,129

 

​  

​  

 

Summary of the RSU activity

 

                                                                                                                                                                                    

 

 

Number of
Shares

 

Weighted Average
Grant-Date
Fair Value

 

 

 

 

 

$

 

Unvested at January 1, 2015

 

 

1,610,219

 

 

7.76

 

Granted

 

 

574,488

 

 

27.34

 

Vested

 

 

(636,000

)

 

7.27

 

Forfeited

 

 

(237,297

)

 

14.39

 

​  

​  

​  

​  

Unvested at December 31, 2015

 

 

1,311,410

 

 

15.75

 

​  

​  

​  

​  

​  

​  

​  

​