v2.4.0.8
Share Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2013
Share-based Compensation [Abstract]  
Key assumptions used in determining the fair value of options granted
The key assumptions used in determining the fair value of options granted in the three and nine months ended September 30, 2013 and a summary of the methodology applied to develop each assumption are as follows:


11. Share Based Compensation (continued)

 
 
Assumptions:
 
 
Volatility
45.30 – 47.60

%
Risk-free interest rate
0.85 – 1.29

%
Weighted average expected lives in years
 6.1 years

 
Forfeiture rate
1.60

%
Dividend yield rate
3.04 – 3.55

%
Schedule of all options granted, exercised, expired and forfeited under the Plan
The following schedule shows all options granted, exercised, expired and forfeited under the Plan for the three and nine months ended September 30, 2013 and 2012:
For the Three Months Ended September 30, 2013
 
Number of
Share
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
Outstanding, June 30, 2013
 
2,673,575

 
$
6.85

 
6.39 years
Exercised
 
(98,611
)
 
$
7.12

 
—
Expired
 
(628
)
 
$
7.67

 
—
Forfeited
 
(112,474
)
 
$
8.52

 
—
Outstanding, September 30, 2013
 
2,461,862

 
$
6.76

 
6.00 years
For the Three Months Ended September 30, 2012
 
Number of
Share
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
Outstanding, June 30, 2012
 
2,870,581

 
$
6.62

 
7.13 years
Exercised
 
(20,907
)
 
$
4.36

 
—
Expired
 
(52,251
)
 
$
9.90

 
—
Forfeited
 
(7,465
)
 
$
7.76

 
—
Outstanding, September 30, 2012
 
2,789,958

 
$
6.58

 
6.90 years


11. Share Based Compensation (continued)
For the Nine Months Ended September 30, 2013
 
Number of
Share
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
Outstanding, December 31, 2012
 
2,795,437

 
$
6.70

 
6.75 years
Granted
 
49,000

 
$
10.61

 
—
Exercised
 
(269,101
)
 
$
6.08

 
—
Expired
 
(628
)
 
$
7.67

 
—
Forfeited
 
(112,846
)
 
$
8.52

 
—
Outstanding, September 30, 2013
 
2,461,862

 
$
6.76

 
6.00 years

For the Nine Months Ended September 30, 2012
 
Number of
Share
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
Outstanding, December 31, 2011
 
2,916,143

 
$
6.61

 
7.55 years
Granted
 
49,500

 
$
8.77

 
—
Exercised
 
(61,061
)
 
$
4.16

 
—
Expired
 
(103,284
)
 
$
9.88

 
—
Forfeited
 
(11,340
)
 
$
7.54

 
—
Outstanding, September 30, 2012
 
2,789,958

 
$
6.58

 
6.90 years