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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2016
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of stock option awards is estimated on the date of grant using a binomial option-pricing model that uses the assumptions noted in the following table:
 
Valuation Assumptions
 
2015
 
2014
 
Risk-free interest rate
 
 
2.14
%
 
2.73
%
Expected volatility
 
 
72.5
%
 
72.0
%
Expected dividend yield
 
 
0.00
%
 
0.00
%
Expected term
 
 
5 yrs.
 
 
5 yrs.
 
Restricted Stock  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
A summary of all restricted stock activity during 2016 is as follows:
 
 
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Grant Date
 
 
 
Shares
 
Fair Value
 
Restricted Stock Outstanding at December 31, 2015
 
 
1,538,116
 
$
13.25
 
Granted
 
 
1,105,010
 
$
13.26
 
Vested
 
 
(618,145)
 
$
9.91
 
Forfeited
 
 
(61,256)
 
$
14.36
 
Restricted Stock Outstanding at December 31, 2016
 
 
1,963,725
 
$
14.20
 
Stock Option  
Schedule of Share-based Compensation, Stock Options, Activity
A summary of all stock option activity during 2016 is as follows:
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Weighted
 
Average
 
Aggregate
 
 
 
 
 
Average
 
Remaining
 
Intrinsic
 
 
 
Number of
 
Exercise
 
Contractual
 
Value ($ in)
 
 
 
Options
 
Price
 
Life
 
millions)
 
Options Outstanding at December 31, 2015
 
 
1,820,956
 
$
11.61
 
 
5.2
 
$
2.3
 
Exercised
 
 
(417,442)
 
$
11.57
 
 
 
 
$
1.3
 
Forfeited
 
 
(17,300)
 
$
14.64
 
 
 
 
 
 
 
Expired
 
 
(112,460)
 
$
16.71
 
 
 
 
 
 
 
Options Outstanding at December 31, 2016
 
 
1,273,754
 
$
11.13
 
 
5.1
 
$
6.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options Exercisable at December 31, 2016
 
 
1,093,165
 
$
10.67
 
 
4.6
 
$
5.6