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STOCK COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2016
Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the six months ended June 30, 2016 is as follows:

 

     Options      Weighted-
average
exercise
price
     Weighted-
average
remaining
contractual
life (years)
     Aggregate
intrinsic value
 

Options outstanding, January 1, 2016

     2,242,202       $ 14.28         

Grants

     56,850         15.69         

Exercises

     (138,443      8.60         

Cancellations

     (23,375      15.32         

Expirations

     (218,100      27.93         
  

 

 

          

Options outstanding, June 30, 2016

     1,919,134         13.16         5.2       $ 4,879,600   
  

 

 

          

 

 

 

Options exercisable, June 30, 2016

     1,566,326       $ 12.45         4.6       $ 4,702,600   
  

 

 

          

 

 

 
Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the six months ended June 30, 2016 is as follows:

 

     Restricted
Shares
     Weighted-
average
grant date
fair value
 

Nonvested restricted shares, January 1, 2016

     101,435       $ 14.77   

Grants

     109,170         15.64   

Vested

     (42,972      14.84   

Cancellations

     (2,000      14.84   
  

 

 

    

Nonvested restricted shares, June 30, 2016

     165,633       $ 15.33   
  

 

 

    

Total unrecognized compensation expense remaining

   $ 2,347,300      

Weighted-average years expected to be recognized over

     3.1      
Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the six months ended June 30, 2016 is as follows:

 

     Performance-
based

awards (1)
     Weighted-
average
grant date
fair value
 

Nonvested performance-based awards, January 1, 2016

     66,150       $ 14.84   

Grants

     82,000         15.69   

Cancellations

     (1,691      14.84   
  

 

 

    

Nonvested performance-based awards, June 30, 2016

     146,459       $ 15.32   
  

 

 

    

Total unrecognized compensation expense remaining

   $ 1,734,900      

Weighted-average years expected to be recognized over

     2.1      

 

(1) Represents the target number of shares to be issued for each performance-based award.