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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Restricted Stock Activity

A summary of all restricted stock activity as of December 31, 2015 and changes during the year then ended is presented below.

	Number  of Shares			Weighted Average Grant Date Fair Value				Weighted Average Remaining Contractual Life (years)			Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2014	99,238			$	28.22			9.00			$	2,286
Granted	145,558			19.17				—			2,886
Vested	(99,238	)		28.22				—			2,100
Canceled/Forfeited	—			—				—			—
Outstanding, December 31, 2015	145,558			$	19.17			9.12			$	3,246

Stock Options Fair Value Assumptions

Weighted average Black -Scholes fair value assumption during the years ended December 31, are as follows:	2015				2014				2013
Risk free rate	1.56	%			1.96	%			1.02	%
Expected life	6 years				6 years				6 years
Expected volatility	45.07	%			58.44	%			60.39	%
Expected dividend yield	—				—				—

Summary of Option Activity

A summary of all option activity as of December 31, 2015 and changes during the year then ended is presented below.

	Number  of Stock Options			Weighted Average Exercise  Price				Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2014	432,269			$	17.55			4.89		$	2,786
Granted	50,000			22.90
Exercised	(66,000	)		11.76						481
Canceled/Forfeited	(1,500	)		30.41						—
Expired	—			—
Outstanding, December 31, 2015	414,769			$	19.07			5.08		$	1,814
Exercisable, December 31, 2015	312,933			$	17.13			3.93		$	1,766

Summary of Stock Options Outstanding Information

The following table summarizes information about our stock options outstanding at December 31, 2015:

Range of Exercise Prices		Options Outstanding									Options Exercisable
		Shares			Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price				Shares			Weighted Average Exercise Price
$0.01-15.70		94,852			3.23		$	11.23			94,852			$	11.23
$15.71-17.81		92,750			3.78		$	17.56			92,750			$	17.56
$17.82-20.48		119,667			4.27		$	19.58			106,167			$	19.69
$20.49-33.36		107,500			8.75		$	26.72			19,164			$	30.05
		414,769			5.08		$	19.07			312,933			$	17.13

Summary of the Status of Unvested Stock Options

The summary of the status of our unvested stock options as of December 31, 2015 and changes during the year then ended is presented below.

Unvested stock options:	Shares			Weighted Average Grant Date Fair Value
Unvested at December 31, 2014	91,834			$	14.19
Granted	50,000			$	10.33
Vested	(38,498	)		$	13.09
Cancelled/Forfeited	(1,500	)		$	16.79
Unvested at December 31, 2015	101,836			$	12.67

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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-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

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the change in stock options.

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