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Note 6 - Stock-based Compensation | 3 Months Ended
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Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
6. | Stock-based Compensation
We recognize compensation expense for stock-based payment awards made to our employees and directors, including stock options and restricted shares under our 2007 Long-Term Incentive Plan, as amended (the “2007 Incentive Plan”) and our Directors’ Restricted Stock Plan. The following table provides our stock-based compensation expense and related income tax benefit for the three-month periods ended March 31, 2015 and 2014, respectively (in thousands).
|  | Three Months Ended March 31, |
|  | 2015 |  |  | 2014 |
Stock-based compensation expense, gross |  | $ | 993 |  |  | $ | 2,071 |
Income tax benefit at our statutory rate associated with stock-based compensation |  |  | (387 | ) |  |  | (808 | )
Stock-based compensation expense, net |  | $ | 606 |  |  | $ | 1,263 |
2007 Long-T erm Incentive Plan The 2007 Long-Term Incentive Plan provides for the grant of incentive stock options, nonqualified stock options, restricted stock awards, stock appreciation rights, and performance awards to acquire shares of our Class A common stock or common stock, or other awards based on our performance, to our employees and non-employee directors. During the three-month period ended March 31, 2015, we granted 150,308 shares of restricted common stock to our employees, of which 50,102 shares will vest on January 31, 2016; 50,100 shares will vest on January 31, 2017; and 50,106 shares will vest on January 31, 2018. Also during the three-month period ended March 31, 2015, we granted 229,322 shares of restricted Class A common stock to our employees, of which 76,442 shares will vest on each of January 31, 2016 and January 31, 2017; and 76,438 shares will vest on January 31, 2018. Also during the three-month period ended March 31, 2015, we granted 58,191 shares of restricted Class A common stock to our non-employee directors, all of which will vest on January 31, 2016. During the three-month period ended March 31, 2014, we granted 312,961 shares of restricted common stock to our employees, of which 68,991 shares vested on the date of grant; 127,316 shares vested on January 17, 2015; and 58,327 shares will vest on each of January 17, 2016 and 2017. Also during the three months ended March 31, 2014, we granted 194,413 shares of restricted Class A common stock to an employee, of which 31,821 shares vested on the date of grant; 75,412 shares vested on January 17, 2015 and 43,590 shares will vest on each of January 17, 2016 and 2017. Also during the three-month period ended March 31, 2014, we granted 41,881 shares of restricted Class A common stock to our non-employee directors, all of which vested on January 1, 2015. Directors’ Restricted Stock Plan The Directors’ Restricted Stock Plan authorizes the grant of restricted stock awards to our non-employee directors. During the three-month periods ended March 31, 2015 and 2014, we did not grant any restricted stock awards under the Directors’ Restricted Stock Plan. A summary of restricted common stock activity for the three-month periods ended March 31, 2015 and 2014 is as follows:
|  | Three Months Ended |
|  | March 31, 2015 |  |  | March 31, 2014 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |
|  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 385,056 |  |  | $ | 9.09 |  |  |  | 274,838 |  |  | $ | 4.43 |
Granted |  |  | 150,308 |  |  | $ | 10.27 |  |  |  | 312,961 |  |  | $ | 11.78 |
Vested |  |  | (197,858 | ) |  | $ | 9.16 |  |  |  | (202,743 | ) |  | $ | 6.93 |
Outstanding - end of period |  |  | 337,506 |  |  | $ | 9.57 |  |  |  | 385,056 |  |  | $ | 9.09 |
A summary of restricted Class A common stock activity for the three-month periods ended March 31, 2015 and 2014 is as follows:
|  | Three Months Ended |
|  | March 31, 2015 |  |  | March 31, 2014 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |
|  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - Class A common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 204,473 |  |  | $ | 9.81 |  |  |  | - |  |  | $ | - |
Granted |  |  | 287,513 |  |  | $ | 9.37 |  |  |  | 236,294 |  |  | $ | 9.80 |
Vested |  |  | (117,293 | ) |  | $ | 9.85 |  |  |  | (31,821 | ) |  | $ | 9.75 |
Outstanding - end of period |  |  | 374,693 |  |  | $ | 9.46 |  |  |  | 204,473 |  |  | $ | 9.81 |
A summary of stock option activity related to our common stock for the three-month periods ended March 31, 2015 and 2014 is as follows:
|  | Three Months Ended |
|  | March 31, 2015 |  |  | March 31, 2014 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  | Number of |  |  | Average |  |  | Number of |  |  | Average |
|  | Shares |  |  | Exercise |  |  | Shares |  |  | Exercise |
|  | Underlying |  |  | Price |  |  | Underlying |  |  | Price |
|  | Options |  |  | Per Share |  |  | Options |  |  | Per Share |
Stock options - common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 274,746 |  |  | $ | 1.99 |  |  |  | 274,746 |  |  | $ | 1.99 |
Options exercised |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | - |
Options expired |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | - |
Outstanding - end of period |  |  | 274,746 |  |  | $ | 1.99 |  |  |  | 274,746 |  |  | $ | 1.99 |
Exercisable at end of period |  |  | 137,376 |  |  | $ | 1.99 |  |  |  | 68,688 |  |  | $ | 1.99 |
During the three-month period ended March 31, 2015, we did not have any stock options outstanding for our Class A common stock. The aggregate intrinsic value of our outstanding stock options was $3.3 million based on the closing market price of our common stock on March 31, 2015.

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- 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 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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