Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2015

In applying the Black-Scholes methodology to the options granted, the Company used the following assumptions:



	Year ended December 31,
	2015	2014
Risk-free interest rate, average	2.0%	2.2%
Expected option life, average	6.1 years	8.2 years
Expected price volatility, average	44.3%	47.6%
Expected dividend yield	1.1%	—%

The following table shows the stock option activity:



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
As of December 31, 2014	1,040,081		$	5.65
Granted	56,666		13.03
Reinstated	4,583		4.47
Expired and canceled	(1,000	)	3.42
Forfeited prior to vesting	(15,252	)	7.85
Exercised	(56,143	)	5.51
As of December 31, 2015	1,028,935		$	6.03	4.73	$	7,104
Vested and Expected to Vest at December 31, 2015	1,028,935		$	6.03	4.73	$	7,104
Vested at December 31, 2015	820,022		$	5.10	3.74	$	6,419

Shares purchased and compensation expense associated Employee Stock Purchase Plans were as follows:



	2015		2014
Shares purchased under ESPP plans	14,982		82
Plan compensation expense	$	31	$	—