XML 59 R43.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activities of Long-Term Incentive and Option Plans

The following information relates to our long-term incentive plans:

 

 

 

December 31, 2016

 

 

2016 Plan

 

 

2008 Plan

 

 

Maximum number of securities for issuance

 

 

2,750,000

 

 

 

 

 

 

Number of awards available to be granted (1)

 

 

2,632,332

 

 

 

 

 

 

Number of unvested restricted stock/restricted

   stock units outstanding

 

 

398,349

 

 

 

639,941

 

 

Number of options outstanding

 

 

—

 

 

 

219,230

 

 

Number of options exercisable

 

 

—

 

 

 

131,705

 

 

 

 

(1)

Includes 2008 Plan shares canceled, forfeited, expired unexercised, which became available for reissuance under the 2016 Plan after the effective date of the 2016 Plan.

Amounts disclosed within this note include amounts attributable to our discontinued operations for prior periods, unless otherwise noted.

 

 

 

2016

 

 

 

Shares

 

 

Weighted-Average

Exercise Price

 

Outstanding at beginning of year (1)

 

 

842,780

 

 

$

31.93

 

Granted

 

 

—

 

 

$

—

 

Exercised (2)

 

 

(45,215

)

 

$

8.20

 

Forfeited or expired (3)

 

 

(578,335

)

 

$

34.38

 

Outstanding at end of year (4)

 

 

219,230

 

 

$

30.36

 

Exercisable at end of year (4)

 

 

131,705

 

 

$

28.25

 

 

 

(1)

Approximately 221,000 stock options related to discontinued operations.

 

(2)

Approximately 44,000 stock options related to discontinued operations.

 

(3)

Approximately 177,000 stock options related to discontinued operations.

 

(4)

Relates to continuing operations only.

 

 

2016

 

 

2015

 

 

2014

 

Weighted-average fair value per option granted during year

 

N/A

 

 

$

14.19

 

 

$

14.85

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intrinsic value of options exercised during the year

 

$

216,000

 

 

$

4,292,000

 

 

$

3,461,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fair value of options vested during the year

 

$

469,000

 

 

$

2,411,000

 

 

$

1,502,000

 

 
Schedule of Share Based Compensation Restricted Stock and Unvested Restricted Stock Award Activity

The following table summarizes information about these granted restricted stocks:

 

 

2016

 

 

2015

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

Shares of restricted stock granted

 

 

850,771

 

 

 

584,959

 

 

N/A

Total fair value of restricted stock granted

 

$

6,652,000

 

 

$

4,200,000

 

 

N/A

Weighted-average fair value per restricted stock granted during year

 

$

7.82

 

 

$

7.18

 

 

N/A

Stock-based compensation expense - Cost of sales

 

$

240,000

 

 

$

—

 

 

N/A

Stock-based compensation expense - SG&A

 

$

2,773,000

 

 

$

405,000

 

 

N/A

Income tax benefit

 

$

(1,157,000

)

 

$

(156,000

)

 

N/A

Total weighted-average remaining vesting period in years

 

 

2.41

 

 

 

3.00

 

 

N/A

Total fair value of restricted stock vested during the year

 

$

2,579,000

 

 

$

405,000

 

 

N/A

 

 

2016

 

 

 

 

Shares

 

 

Weighted-Average

Grant Date Fair Value

 

Unvested restricted stock outstanding at beginning of year

 

 

528,553

 

 

$

11.80

 

Granted (1)

 

 

850,771

 

 

$

7.82

 

Vested (1)

 

 

(296,034

)

 

$

8.71

 

Cancelled or forfeited

 

 

(45,000

)

 

$

6.24

 

Unvested restricted stock outstanding at end of year

 

 

1,038,290

 

 

$

8.60

 

 

 

(1)

Approximately 89,000 of restricted stock related to discontinued operations.
Valuation Assumptions of Granted Stock Options

 

The following table summarizes information about these granted stock options:

 

 

 

2016

 

 

2015

 

 

2014

 

Weighted-average risk-free interest rate

 

N/A

 

 

 

1.73

%

 

 

1.83

%

Dividend yield

 

N/A

 

 

 

—

 

 

 

—

 

Weighted-average expected volatility

 

N/A

 

 

 

38.32

%

 

 

45.18

%

Total weighted-average expected forfeiture rate

 

N/A

 

 

 

0.00

%

 

 

7.88

%

Weighted-average expected life (years)

 

N/A

 

 

 

5.11

 

 

 

5.90

 

Total weighted-average remaining vesting period in

   years (1)

 

 

2.25

 

 

 

3.76

 

 

 

3.77

 

Total fair value of options granted for continuing

   operations (2)

 

N/A

 

 

$

1,853,000

 

 

$

5,518,000

 

Stock-based compensation expense - Cost of sales for

   continuing operations (1) (3)

 

$

321,000

 

 

$

303,000

 

 

$

139,000

 

Stock-based compensation expense - SG&A for

   continuing operations (1) (4)

 

$

836,000

 

 

$

1,410,000

 

 

$

636,000

 

Income tax benefit for continuing operations (1) (5)

 

$

(444,000

)

 

$

(662,000

)

 

$

(302,000

)

 

(1)

For 2016, information relates to continuing operations only.

(2)

Approximately $62,000 and $1,744,000 for 2015 and 2014, respectively, is included in discontinued operations.

(3)

Approximately $126,000 and $116,000 for 2015 and 2014, respectively, is included in discontinued operations.

(4)

Approximately $508,000 and $1,024,000 for 2015 and 2014, respectively, is included in discontinued operations.

(5)

Approximately $(244,000) and $(445,000) for 2015 and 2014, respectively, is included in discontinued operations.
Stock Options Outstanding and Exercisable

 

 

 

 

 

 

 

 

 

 

Stock Options Outstanding At December 31, 2016

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual Life

in Years

 

 

Weighted-

Average Exercise

Price

 

 

Intrinsic Value of

Shares

Outstanding

 

$ 7.86

 

 

 

17,525

 

 

 

1.92

 

 

$

7.86

 

 

$

9,814

 

$

9.69

 

-

$

9.97

 

 

 

12,705

 

 

 

1.83

 

 

$

9.71

 

 

 

—

 

$

33.36

 

-

$

34.50

 

 

 

189,000

 

 

 

6.66

 

 

$

33.84

 

 

 

—

 

$

7.86

 

-

$

34.50

 

 

 

219,230

 

 

 

6.00

 

 

$

30.36

 

 

$

9,814

 

 

 

 

 

 

 

 

 

 

Stock Options Exercisable At December 31, 2016

 

Exercise Prices

 

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual

Life in Years

 

 

Weighted-

Average

Exercise Price

 

 

Intrinsic Value of

Shares

Outstanding

 

$ 7.86

 

 

 

17,525

 

 

 

1.92

 

 

$

7.86

 

 

$

9,814

 

$

9.69

 

-

$

9.97

 

 

 

12,705

 

 

 

1.83

 

 

$

9.71

 

 

 

—

 

$

33.36

 

-

$

34.50

 

 

 

101,475

 

 

 

5.99

 

 

$

34.09

 

 

 

—

 

$

7.86

 

-

$

34.50

 

 

 

131,705

 

 

 

5.05

 

 

$

28.25

 

 

$

9,814