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Stock Based Compensation (Tables)

9 Months Ended

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
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