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Stock appreciation rights ("SARs") (Tables)
9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Awards, Simulation Inputs and Outputs
A summary of awards, simulation inputs and outputs is as follows:
 
 
 
 
 
 
 
 
 
 
Monte Carlo Simulation Inputs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
Average
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Risk-free
 
 
 
Average
 
Expected
 
 
 
SARs
 
Exercise
 
Vesting
 
Grant
 
Dividend
 
rate of
 
Expected
 
Fair
 
Exercise
 
Date
 
Awarded
 
Price
 
Period
 
Price
 
Yield
 
Return
 
Volatility
 
Value
 
Life
 
01-Aug-13
 
1,078,125
 
$
14.00
 
5 yrs
 
$
14.00
 
2.87
%
2.15
%
54.89
%
$
4.28
 
4.9 - 6.0 yrs
 
12-Mar-14
 
22,118
 
$
13.66
 
3 yrs
 
$
13.66
 
2.93
%
2.06
%
56.31
%
$
4.17
 
4.6 - 5.0 yrs
 
01-Jun-14
 
5,595
 
$
13.91
 
3 yrs
 
$
13.91
 
2.88
%
2.20
%
53.60
%
$
4.20
 
4.5 - 5.0 yrs
 
06-Mar-15
 
37,797
 
$
10.25
 
3 yrs
 
$
10.25
 
3.90
%
1.90
%
61.38
%
$
2.98
 
4.2 - 5.0 yrs
 
Schedule of Cost Related to Non-vested Awards Expected to be recognized
The total cost related to non-vested awards expected to be recognized through 2018 is set forth below:
 
Period
 
TOTAL
 
2015
 
362,031
 
2016
 
1,027,447
 
2017
 
333,670
 
2018
 
106,198
 
 
 
1,829,346