v2.4.0.8
Share Based Compensation (Tables)
3 Months Ended
Mar. 31, 2014
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 months ended March 31, 2014 and a summary of the methodology applied to develop each assumption were as follows:
 
 
Assumptions:
 
 
Volatility
45.30 – 51.40
%
Risk-free interest rate
0.85 – 1.77
%
Weighted average expected lives in years
 6.1 years
 
Forfeiture rate
1.60 – 3.45
%
Dividend yield rate
3.46 – 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 months ended March 31, 2014 and 2013:
For the Three Months Ended March 31, 2014
 
Number of
Share
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
Outstanding, December 31, 2013
 
2,439,413

 
$
6.76

 
5.75 years
Granted
 
8,500

 
$
11.38

 
 
Exercised
 
(42,134
)
 
$
4.36

 
 
Outstanding, March 31, 2014
 
2,405,779

 
$
6.82

 
5.53 years
For the Three Months Ended March 31, 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
 
6,500

 
$
9.99

 
 
Exercised
 
(96,910
)
 
$
3.51

 
 
Outstanding, March 31, 2013
 
2,705,027

 
$
6.82

 
6.54 years

9. Share Based Compensation (continued)