XML 83 R18.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Equity Incentive Plan | 12 Months Ended
--- | ---
Dec. 31, 2013
Equity Incentive Plans [Abstract] |
Equity Incentive Plan | (11)Equity Incentive Plan The Company maintains the Northfield Bancorp, Inc. 2008 Equity Incentive Plan to grant common stock or options to purchase common stock at specific prices to directors and employees of the Company. The Plan provides for the issuance or delivery of up to 4,311,796 shares of Northfield Bancorp, Inc. common stock subject to certain Plan limitations. 211,530 shares of stock remain available for issuance under the Plan as of December 31, 2013. All stock options and restricted stock granted to date vest s in equal installments over a five year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the plan. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years. The fair value of stock options granted on January 30, 2009, w as estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.17%, volatility of 35.33% and a dividend yield of 1.61%. The fair value of stock options granted on May 29, 2009, w as estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.88%, volatility of 38.39% and a dividend yield of 1.50%. The fair value of stock options granted on January 30, 2010, w as estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.90%, volatility of 38.29% and a dividend yield of 1.81%. The fair value of stock options granted on July 26, 2013, w as estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 1.39%, volatility of 35.33% and a dividend yield of 1.98%. The Company is expens ing the grant date fair value of all employee and director share-based compensation over the requisite service periods on a straight-line basis. During the years ended December 31, 2013, 2012, and 2011, the Company recorded, $3.2 million, $3.0 million and $3.0 million of stock-based compensation. The following table is a summary of the Company’s non-vested stock options as of December 31, 2013, and changes therein during the year then ended:
|  | Number of Stock Options |  | Weighted Average Grant Date Fair Value |  | Weighted Average Exercise Price |  | Weighted Average Contractual Life (years)
Outstanding- December 31, 2011 |  | 2,885,288 |  | $ 2.30 |  | $ 7.09 |  | 7.02
Forfeited |  | (19,500) |  | 2.30 |  | 7.09 |  | -
Exercised |  | (59,876) |  | 2.30 |  | 7.09 |  | -
Outstanding- December 31, 2012 |  | 2,805,912 |  | 2.30 |  | 7.09 |  | 6.07
Granted |  | 20,900 |  | 3.06 |  | 11.97 |  | 9.58
Exercised |  | (26,507) |  | 2.30 |  | 7.09 |  | -
Outstanding- December 31, 2013 |  | 2,800,305 |  | $ 2.30 |  | $ 7.13 |  | 5.16
Exercisable- December 31, 2013 |  | 2,285,445 |  | $ 2.30 |  | $ 7.09 |  | 5.16
Expected future stock option expense related to the non-vested options outstanding as of December 31, 2013, is $170,000 over an average period of 1.7 years. The following is a summary of the status of the Company’s restricted shares as of December 31, 2013, and changes therein during the year then ended:
|  | Number of Shares Awarded |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2011 |  | 685,780 |  | $ 7.11
Vested |  | (228,182) |  | 7.10
Forfeited |  | (2,694) |  | 7.09
Non-vested at December 31, 2012 |  | 454,904 |  | 7.11
Granted |  | 13,300 |  | 11.97
Vested |  | (225,595) |  | 7.10
Forfeited |  | (2,526) |  | 7.09
Non-vested at December 31, 2013 |  | 240,083 |  | $ 7.29
Expected future stock award expense related to the non-vested restricted awards as of December 31, 2013, is $294,000 over an average period of 2.4 years. Upon the exercise of stock options, management expects to utilize treasury stock as the source of issuance for these shares.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 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=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: 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 6: 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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration