Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.3.1.900
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based payment arrangements
The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Stock-based compensation cost charged against loss, before income tax benefit
 
 
 
 
 
Stock options
$
686

 
$
812

 
$
928

Restricted stock and restricted stock units
1,148

 
1,029

 
507

Total expense included in continuing operations
$
1,834

 
$
1,841

 
$
1,435

Stock-based compensation cost included in:
 
 
 
 
 
Cost of revenues
$
159

 
$
55

 
$
25

Operating expenses
1,675

 
1,786

 
1,410

Total expense included in continuing operations
$
1,834

 
$
1,841

 
$
1,435

Schedule of assumptions used to determine the fair value of stock options awards granted
The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
Expected life of options in years
4.75
 
4.75
 
2.00 - 4.75
Risk-free interest rate
1.3% - 1.6%
 
1.4% - 1.6%
 
0.3% - 1.3%
Expected volatility
34.5% - 53.2%
 
33.1% - 34.5%
 
31.5% - 43.7%
Expected dividend yield
0.0%
 
0.0%
 
0.0%
Schedule of share-based compensation pertaining to stock options
A summary of share option activity is presented in the table below (in thousands, except per share data):
 
Shares
 
Weighted Average Exercise Price
 
Weighted
Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value(1)
Options outstanding at December 31, 2012
1,925

 
$
13.81

 
 
 
 

Granted
389

 
11.78

 
 
 
 

Exercised
(1
)
 
9.26

 
 
 
 

Canceled
(565
)
 
15.10

 
 
 
 

Options outstanding at December 31, 2013
1,748

 
12.95

 
 
 
 
Granted
133

 
14.58

 
 
 
 
Exercised
(86
)
 
12.28

 
 
 
 
Canceled
(160
)
 
15.75

 
 
 
 
Options outstanding at December 31, 2014
1,635

 
12.84

 
 
 
 
Granted
617

 
4.73

 
 
 
 

Exercised
(20
)
 
7.27

 
 
 
 

Canceled
(419
)
 
13.45

 
 
 
 

Options outstanding at December 31, 2015
1,813

 
10.00

 
4.0
 
$

Total vested and expected to vest as of December 31, 2015
 
 
 
 
 
 
 
Options exercisable as of:
 
 
 
 
 
 
 
December 31, 2013
881

 
$
15.55

 
 
 
 
December 31, 2014
1,003

 
14.15

 
 
 
 
December 31, 2015
969

 
13.09

 
2.1
 
$

________________________________________________________________
(1) 
Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value).
Nonvested restricted stock shares activity
A summary of restricted stock and restricted stock units activity is presented in the table below (in thousands, except per share data):
 
Number of Shares
 
Weighted Average
Grant-Date Fair Value
Nonvested at December 31, 2012
150

 
$
11.21

Granted
55

 
10.14

Vested
(66
)
 
10.72

Canceled
(21
)
 
11.46

Nonvested at December 31, 2013
118

 
10.94

Granted
184

 
14.92

Vested
(76
)
 
10.35

Canceled
(12
)
 
10.63

Nonvested at December 31, 2014
214

 
14.59

Granted
129

 
9.96

Vested
(92
)
 
14.52

Canceled
(76
)
 
12.64

Nonvested at December 31, 2015
175

 
$
12.05

Schedule of share-based compensation pertaining to restricted stock and restricted stock units
Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted
$
9.96

 
$
14.92

 
$
10.14

Total fair value of restricted stock and restricted stock units vested
$
667

 
$
1,076

 
$
593

Schedule of Other Share-based Compensation, Activity [Table Text Block]
Other information pertaining to options is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Fair value of options granted
$
1,119

 
$
612

 
$
1,382

Per share weighted average fair value of options granted
$
1.81

 
$
4.60

 
$
3.55

Total intrinsic value of stock options exercised
$
131

 
$
242

 
$
2