XML 48 R35.htm IDEA: XBRL DOCUMENT v3.19.1
Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity:

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Aggregate

 

 

 

Stock

 

 

Remaining

 

 

Weighted-

 

 

Intrinsic

 

 

 

Options

 

 

Term

 

 

Average

 

 

Value

 

 

 

Outstanding

 

 

(in years)

 

 

Exercise Price

 

 

(in thousands)

 

Outstanding at January 1, 2018

 

 

4,375,929

 

 

 

7.9

 

 

$

10.73

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

$

 

 

 

 

 

Exercised

 

 

(813,228

)

 

 

 

 

 

$

7.38

 

 

 

 

 

Cancelled

 

 

(117,635

)

 

 

 

 

 

$

12.15

 

 

 

 

 

Expired

 

 

(20,311

)

 

 

 

 

 

$

7.34

 

 

 

 

 

Outstanding at December 31, 2018

 

 

3,424,755

 

 

 

7.4

 

 

$

11.49

 

 

$

17,603

 

Exercisable at December 31, 2018

 

 

2,193,274

 

 

 

7.2

 

 

$

10.63

 

 

$

12,811

 

Schedule of Assumptions Used to Estimate the Fair Value of Stock Options Granted

The following assumptions were used to estimate the fair value of stock options granted:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Expected dividend yield

 

 

 

 

 

 

Risk-free interest rate

 

2.21 – 2.47%

 

 

1.43 – 2.40%

 

Expected term (in years)

 

 

10

 

 

 

10

 

Expected volatility

 

29.07 – 34.43%

 

 

24.03 – 26.95%

 

 

Summary of RSU Activity

The following table summarizes RSU activity:

 

 

 

RSUs

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

Weighted-

 

 

Fair Value

 

 

 

 

 

 

 

Average

 

 

of Shares

 

 

 

 

 

 

 

Grant Date

 

 

Vested

 

 

 

Shares

 

 

Fair Value

 

 

(in thousands)

 

Outstanding at January 1, 2016

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

141,296

 

 

$

12.57

 

 

 

 

 

Outstanding at December 31, 2016

 

 

141,296

 

 

$

12.57

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(111,660

)

 

$

12.57

 

 

$

2,556

 

Cancelled

 

 

(29,636

)

 

$

12.57

 

 

 

 

 

Outstanding at December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

241,542

 

 

$

29.09

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

$

 

Cancelled

 

 

(9,243

)

 

$

28.72

 

 

 

 

 

Outstanding at December 31, 2018

 

 

232,299

 

 

$

29.10

 

 

 

 

 

Summary of PSU Activity

The following table summarizes PSU activity:

 

 

 

PSUs

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

Weighted-

 

 

Fair Value

 

 

 

 

 

 

 

Average

 

 

of Shares

 

 

 

 

 

 

 

Grant Date

 

 

Vested

 

 

 

Shares(1)

 

 

Fair Value

 

 

(in thousands)

 

Outstanding at January 1, 2017

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

62,791

 

 

$

27.87

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

$

 

Cancelled

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

62,791

 

 

$

27.87

 

 

 

 

 

Granted

 

 

108,957

 

 

$

28.72

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

$

 

Cancelled

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

171,748

 

 

$

28.41

 

 

 

 

 

__________________

(1)

The number of shares listed for PSUs granted during 2017 represents the actual number of PSUs granted to each recipient eligible to vest if the Company meets its performance goals for the applicable period. The number of shares listed for PSUs granted during 2018 represents the “target” number of PSUs granted to each recipient eligible to vest if the Company meets its “target” performance goals for the applicable period. The actual number of PSUs eligible to vest with respect to PSUs granted in 2018 will vary depending on whether or not the Company meets or exceeds the applicable threshold, target or maximum performance goals for the PSUs, with 200% of the “target” number of PSUs eligible to vest at “maximum” performance levels.

 

Summary of Share-based Compensation Costs by Award Type

The following table summarizes share-based compensation costs by award type:

 

 

 

Year Ended December 31,

 

(In thousands)

 

2018

 

 

2017

 

 

2016

 

Stock options

 

$

5,191

 

 

$

5,135

 

 

$

3,717

 

RSUs

 

 

3,383

 

 

 

3,554

 

 

 

161

 

PSUs

 

 

1,067

 

 

 

65

 

 

 

 

Total share-based compensation costs

 

$

9,641

 

 

$

8,754

 

 

$

3,878