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Stock Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2016
Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period | The below tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three months and nine months ended September 30, 2016 and 2015.
|  | Stock-Based Compensation for the Three months ended |  |  | Stock-Based Compensation for the Nine months ended |  |  | Unamortized Stock-Based Compensation |  |  | Remaining Weighted Average Period (years) |
September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incentive Stock Options |  | $ | 71 |  |  | $ | 252 |  |  | $ | 497 |  |  |  | 1.2 |
Restricted Stock |  |  | 406 |  |  |  | 1,100 |  |  |  | 2,545 |  |  |  | 1.8 |
Performance Based Restricted Stock |  |  | 100 |  |  |  | 240 |  |  |  | 857 |  |  |  | 1.4 |
Performance Based Options |  |  | 11 |  |  |  | 64 |  |  |  | 173 |  |  |  | 1.2 |
Total |  | $ | 588 |  |  | $ | 1,656 |  |  | $ | 4,072 |  |  |  |  |
September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incentive Stock Options |  | $ | 94 |  |  | $ | 325 |  |  | $ | 1,009 |  |  |  | 2.3 |
Restricted Stock |  |  | 334 |  |  |  | 2,296 |  |  |  | 2,751 |  |  |  | 1.5 |
Performance Based Restricted Stock |  |  | 18 |  |  |  | 222 |  |  |  | 686 |  |  |  | 1.8 |
Performance Based Options |  |  | 12 |  |  |  | 100 |  |  |  | 373 |  |  |  | 2.2 |
Total |  | $ | 458 |  |  | $ | 2,943 |  |  | $ | 4,819 |  |  |  |  |
Summary of Option Activity | Option activity within each plan is as follows:
|  | Incentive Stock Option Plans |  |  | Weighted Average Price Per Share |  |  | Exercisable Weighted Average Price Per Share |
Balance outstanding, December 31, 2015 |  |  | 626,845 |  |  | $ | 9.25 |  |  | $ | 7.73 |
Options exercised |  |  | (25,500 | ) |  |  | 7.50 |  |  |  |  |
Options forfeited |  |  | (9,813 | ) |  |  | 11.49 |  |  |  |  |
Balance outstanding, March 31, 2016 |  |  | 591,532 |  |  | $ | 9.29 |  |  | $ | 7.84 |
Options exercised |  |  | (12,900 | ) |  |  | 7.50 |  |  |  |  |
Options forfeited |  |  | (5,000 | ) |  |  | 11.49 |  |  |  |  |
Balance outstanding, June 30, 2016 |  |  | 573,632 |  |  | $ | 9.31 |  |  | $ | 7.85 |
Options exercised |  |  | (15,500 | ) |  |  | 7.50 |  |  |  |  |
Options forfeited |  |  | (11,118 | ) |  |  | 11.49 |  |  |  |  |
Balance outstanding, September 30, 2016 |  |  | 547,014 |  |  | $ | 9.31 |  |  | $ | 7.87 |
Summary of Stock Options Summarized by Exercise Price | Information relating to stock options at September 30, 2016 summarized by exercise price is as follows:
|  | Outstanding Weighted Average |  |  | Exercisable Weighted Average |
Exercise Price Per Share |  | Shares |  |  | Remaining Life (Months) |  |  | Exercise Price |  |  | Shares |  |  | Exercise Price |
Incentive Stock Option Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$7.50 |  |  | 303,350 |  |  |  | 50 |  |  | $ | 7.50 |  |  |  | 303,350 |  |  | $ | 7.50 |
$11.32—$11.49 |  |  | 243,664 |  |  |  | 95 |  |  | $ | 11.57 |  |  |  | 25,507 |  |  | $ | 12.28 |
|  |  | 547,014 |  |  |  |  |  |  | $ | 9.31 |  |  |  | 328,857 |  |  | $ | 7.87 |
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding | The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of September 30, 2016 was as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Months) |  |  | Intrinsic Value (thousands) |
As of September 30, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incentive Stock Option Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding |  |  | 547,014 |  |  | $ | 9.31 |  |  |  | 70 |  |  | $ | 3,690 |
Expected to Vest |  |  | 540,064 |  |  | $ | 9.29 |  |  |  | 70 |  |  | $ | 3,658 |
Exercisable |  |  | 328,857 |  |  | $ | 7.87 |  |  |  | 51 |  |  | $ | 2,693 |
Performance Based Stock Options |
Summary of Option Activity | Performance based stock option activity is as follows:
|  | Incentive Stock Option Plans |  |  | Weighted Average Price Per Share |  |  | Exercisable Weighted Average Price Per Share |
Balance outstanding, December 31, 2015 |  |  | 98,410 |  |  | $ | 11.49 |  |  | $ | — |
Options forfeited |  |  | (8,946 | ) |  |  | 11.49 |  |  |  |  |
Balance outstanding, March 31, 2016 |  |  | 89,464 |  |  | $ | 11.49 |  |  | $ | — |
Balance outstanding, June 30, 2016 |  |  | 89,464 |  |  | $ | 11.49 |  |  |  |  |
Options forfeited |  |  | (7,130 | ) |  |  | 11.49 |  |  |  |  |
Balance outstanding, September 30, 2016 |  |  | 82,334 |  |  | $ | 11.49 |  |  | $ | — |
Performance Incentive Stock Option |
Summary of Stock Options Summarized by Exercise Price | Information relating to outstanding performance incentive stock options at September 30, 2016 summarized by exercise price is as follows:
|  | Outstanding Weighted Average |  |  | Exercisable Weighted Average |
Exercise Price Per Share |  | Shares |  |  | Remaining Life (Months) |  |  | Exercise Price |  |  | Shares |  |  | Exercise Price |
Performance Incentive Stock Option Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$11.49 |  |  | 82,334 |  |  |  | 15 |  |  | $ | 11.49 |  |  |  | — |  |  | $ | — |
|  |  | 82,334 |  |  |  |  |  |  | $ | 11.49 |  |  |  | — |  |  | $ | — |
Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding | The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of September 30, 2016 are as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Months) |  |  | Intrinsic Value (thousands) |
As of September 30, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incentive Stock Option Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding |  |  | 82,334 |  |  | $ | 11.49 |  |  |  | 15 |  |  | $ | 376 |
Expected to Vest |  |  | 73,632 |  |  | $ | 11.49 |  |  |  | 15 |  |  | $ | 336 |
Exercisable |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Restricted Stock |
Summary of Non-Vested Shares | Restricted Shares—A status summary of non-vested shares as of and for the nine months ended September 30, 2016 and 2015 is presented below:
|  | Nine Months Ended September 30, 2016 |  |  | Nine Months Ended September 30, 2015 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at January 1st |  |  | 362,841 |  |  | $ | 20.43 |  |  |  | 560,842 |  |  | $ | 21.44 |
Granted |  |  | — |  |  |  | — |  |  |  | 30,000 |  |  |  | 11.42 |
Vested |  |  | (127,274 | ) |  |  | 31.29 |  |  |  | (192,266 | ) |  |  | 20.47 |
Forfeited |  |  | (16,008 | ) |  |  | 23.67 |  |  |  | (422 | ) |  |  | 14.92 |
Nonvested shares at March 31st |  |  | 219,559 |  |  | $ | 14.59 |  |  |  | 398,154 |  |  | $ | 21.17 |
Granted |  |  | 140,541 |  |  |  | 15.08 |  |  |  | 21,005 |  |  |  | 14.28 |
Vested |  |  | (22,639 | ) |  |  | 15.63 |  |  |  | (28,505 | ) |  |  | 13.53 |
Forfeited |  |  | (6,457 | ) |  |  | 14.98 |  |  |  | (1,201 | ) |  |  | 14.92 |
Nonvested shares at June 30th |  |  | 331,004 |  |  | $ | 14.72 |  |  |  | 389,453 |  |  | $ | 21.37 |
Granted |  |  | 1,668 |  |  |  | 16.75 |  |  |  | 13,196 |  |  |  | 12.88 |
Vested |  |  | (2,566 | ) |  |  | 19.18 |  |  |  | (19,000 | ) |  |  | 27.93 |
Forfeited |  |  | (12,822 | ) |  |  | 14.98 |  |  |  | (26,723 | ) |  |  | 22.64 |
Nonvested shares at September 30th |  |  | 317,284 |  |  | $ | 14.69 |  |  |  | 356,926 |  |  | $ | 20.62 |
Performance Based Restricted Shares |
Summary of Non-Vested Shares | Performance Based Restricted Shares—A summary of non-vested performance based shares as of and for the nine months ended September 30, 2016 and 2015 is presented below:
|  | Nine Months Ended September 30, 2016 |  |  | Nine Months Ended September 30, 2015 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at January 1st |  |  | 104,403 |  |  | $ | 17.05 |  |  |  | 103,907 |  |  | $ | 17.77 |
Granted |  |  | — |  |  |  | — |  |  |  | 7,500 |  |  |  | 10.96 |
Forfeited |  |  | (9,395 | ) |  |  | 17.65 |  |  |  | — |  |  |  | — |
Nonvested shares at March 31st |  |  | 95,008 |  |  | $ | 16.99 |  |  |  | 111,407 |  |  | $ | 17.31 |
Granted |  |  | 52,170 |  |  |  | 14.39 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (19,612 | ) |  |  | 28.25 |  |  |  | — |  |  |  | — |
Nonvested shares at June 30th |  |  | 127,566 |  |  | $ | 14.20 |  |  |  | 111,407 |  |  | $ | 17.31 |
Granted |  |  | — |  |  |  | — |  |  |  | 3,196 |  |  |  | 12.37 |
Forfeited |  |  | (8,544 | ) |  |  | 14.39 |  |  |  | (10,200 | ) |  |  | 18.43 |
Nonvested shares at September 30th |  |  | 119,022 |  |  | $ | 14.18 |  |  |  | 104,403 |  |  | $ | 17.05 |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: 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 2: 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 + Details
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