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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activities of Stock Option Plans

The following information relates to our stock option plans:

 

 

 

December 31, 2015

 

 

 

2008 Plan

 

 

Outside

Director

Plan

 

Maximum number of securities for issuance

 

 

1,975,000

 

 

 

400,000

 

Number of awards available to be granted

 

 

797,890

 

 

 

278,456

 

Number of options outstanding

 

 

802,780

 

 

 

—

 

Number of options exercisable

 

 

232,925

 

 

 

—

 

 

 

 

 

2015

 

 

 

Shares

 

 

Weighted-Average

Exercise Price

 

Outstanding at beginning of year

 

 

955,848

 

 

$

27.09

 

Granted

 

 

135,000

 

 

$

38.73

 

Exercised

 

 

(159,348

)

 

$

11.20

 

Forfeited or expired

 

 

(88,720

)

 

$

27.29

 

Outstanding at end of year

 

 

842,780

 

 

$

31.93

 

Exercisable at end of year

 

 

252,925

 

 

$

28.13

 

 

 

 

2015

 

 

2014

 

 

2013

 

Weighted-average fair value per option granted during year

 

$

14.19

 

 

$

14.85

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intrinsic value of options exercised during the year

 

$

4,292,000

 

 

$

3,461,000

 

 

$

2,970,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fair value of options vested during the year

 

$

2,411,000

 

 

$

1,502,000

 

 

$

1,565,000

 

 
Restricted Stock Activities of Restricted Stock Plans

14.  Stockholders’ Equity (continued)

The following information relates to our restricted stock:

 

 

 

2015

 

 

 

Shares

 

Unvested restricted stock outstanding at beginning of year

 

 

—

 

Granted

 

 

584,959

 

Vested

 

 

(56,406

)

Cancelled or forfeited

 

 

—

 

Unvested restricted stock outstanding at end of year

 

 

528,553

 

 
Valuation Assumptions of Granted Stock Options

The following table summarizes information about these granted stock options:

 

 

 

2015

 

 

2014

 

 

2013

 

Weighted-average risk-free interest rate

 

 

1.73

%

 

 

1.83

%

 

N/A

 

Dividend yield

 

 

—

 

 

 

—

 

 

N/A

 

Weighted-average expected volatility

 

 

38.32

%

 

 

45.18

%

 

N/A

 

Total weighted-average expected forfeiture rate

 

 

0.00

%

 

 

7.88

%

 

N/A

 

Weighted-average expected life (years)

 

 

5.11

 

 

 

5.90

 

 

N/A

 

Total weighted-average remaining vesting period in years (1)

 

 

6.53

 

 

 

5.83

 

 

 

2.45

 

Total fair value of options granted

 

$

1,915,000

 

 

$

7,262,000

 

 

N/A

 

Stock-based compensation expense - Cost of sales (1)

 

$

428,000

 

 

$

255,000

 

 

$

227,000

 

Stock-based compensation expense - SG&A (1)

 

$

1,918,000

 

 

$

1,660,000

 

 

$

1,315,000

 

Income tax benefit (1)

 

$

(906,000

)

 

$

(747,000

)

 

$

(601,000

)

 

(1)

Information relates to stock options granted since 2006.
Stock Options Outstanding and Exercisable

 

 

 

 

 

 

 

 

 

Stock Options Outstanding At December 31, 2015

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual Life

in Years

 

 

Weighted-

Average Exercise

Price

 

 

Intrinsic Value of

Shares

Outstanding   (A)

 

$

7.86

 

-

$

8.01

 

 

 

57,525

 

 

 

1.41

 

 

$

7.96

 

 

 

—

 

$

9.69

 

-

$

9.97

 

 

 

19,920

 

 

 

2.83

 

 

$

9.70

 

 

 

—

 

$

29.99

 

-

$

34.50

 

 

 

655,335

 

 

 

7.90

 

 

$

33.45

 

 

 

—

 

$

36.78

 

-

$

42.65

 

 

 

110,000

 

 

 

9.55

 

 

$

39.45

 

 

 

—

 

$

7.86

 

-

$

42.65

 

 

 

842,780

 

 

 

7.55

 

 

$

31.93

 

 

$

—

 

 

  

 

 

 

 

 

 

 

 

Stock Options Exercisable At December 31, 2015

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual

Life in Years

 

 

Weighted-

Average

Exercise Price

 

 

Intrinsic Value of

Shares

Outstanding   (A)

 

$

7.86

 

-

$

8.01

 

 

 

37,525

 

 

 

1.76

 

 

$

7.94

 

 

$

—

 

$

9.69

 

-

$

9.97

 

 

 

19,920

 

 

 

2.83

 

 

$

9.70

 

 

 

—

 

$

29.99

 

-

$

34.50

 

 

 

195,480

 

 

 

6.95

 

 

$

33.88

 

 

 

—

 

$

36.78

 

-

$

42.65

 

 

 

—

 

 

 

—

 

 

$

—

 

 

 

—

 

$

7.86

 

-

$

42.65

 

 

 

252,925

 

 

 

5.85

 

 

$

28.13

 

 

$

—

 

 

 

(A)

The exercise price of all stock options exceeded the market value of our common stock as of December 31, 2015.