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SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2015

SHARE-BASED COMPENSATION [Abstract]

Fair Value of Each Option Grant Estimated

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year:

		Six Months Ended June 30,
		2015				2014
Expected option life		5.25 years				6 years
Risk-free interest rate			1.49-1.68	%			2.31 - 2.73	%
Expected volatility			36.29-39.58	%			36.74% - 37.20	%
Dividend yield			0	%			0	%

Summary of Company's Restricted Stock Activity

A summary of the Company's restricted stock activity during the six months ended June 30, 2015 is as follows:

		Shares				Weighted Average Grant Date Fair Value
Unvested – December 31, 2014			338,702			$	4.26
Granted			1,539,114			$	9.14
Vested			(977,753	)		$	8.54
Forfeitures			-			$	-
Unvested – June 30, 2015			900,063			$	7.97

Summary of Company's Stock Option Activity

A summary of the Company’s stock option activity during the six months ended June 30, 2015 is as follows:

		Shares				Weighted Average Exercise Price
Outstanding – December 31, 2014			3,573,141			$	4.27
Granted			691,205			$	8.82
Exercised			-			$	-
Forfeitures			(4,335	)		$	2.79
Outstanding – June 30, 2015			4,260,011			$	5.01
Eligible for exercise			2,126,747			$	4.99

Intrinsic Values and Remaining Contractual Terms of Company's Stock Options

The following table summarizes the intrinsic values and remaining contractual terms of the Company’s stock options (in thousands):

		Intrinsic Value				Weighted Average Remaining Life in Years
Options outstanding – June 30, 2015		$	15,674				9.2
Options exercisable – June 30, 2015		$	7,669				9.0

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (c)(1)



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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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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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Tabular disclosure of the number of fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both options (or share units) currently outstanding and options (or share units) exercisable (or convertible).

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