| Components of Stock-Based Compensation Included in Consolidated Statements of Net and Comprehensive Income |
The following table summarizes the components of stock-based
compensation included in the condensed consolidated statements of
net and comprehensive income (in thousands):
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Three Months
Ended September 30,
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Nine Months
Ended September 30,
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2014 |
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2013 |
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2014 |
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2013 |
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Restricted stock and SARs (prior to IPO)
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$ |
— |
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$ |
2,053 |
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$ |
— |
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$ |
4,679 |
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Employee stock purchase plan
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45 |
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— |
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68 |
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— |
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RSAs – non-employee directors
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61 |
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— |
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137 |
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— |
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RSUs - employees
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175 |
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— |
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521 |
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— |
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RSUs – independent contractors
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1,136 |
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— |
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2,549 |
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— |
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$ |
1,417 |
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$ |
2,053 |
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$ |
3,275 |
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$ |
4,679 |
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| Summary of Vested and Nonvested RSU and RSA Activity and Unrecognized Stock-Based Compensation Expense |
The following table summarizes the Company’s vested and
nonvested RSU and RSA activity under the 2013 Plan for the nine
month period ended September 30, 2014 (dollars in thousands,
except per share data):
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RSA Grants to
Non-employee
Directors
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RSU Grants to
Employees
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RSU Grants to
Independent
Contractors
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Total |
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Weighted-
Average Grant
Date Fair Value
Per Share |
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Nonvested shares at December 31, 2013
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30,000 |
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313,155 |
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570,760 |
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913,915 |
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$ |
14.46 |
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Granted
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February 2014
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—
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—
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38,088 |
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38,088 |
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May 2014
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22,884 |
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6,991 |
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31,780 |
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61,655 |
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August 2014
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—
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6,346 |
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12,474 |
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18,820 |
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Total Granted
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22,884 |
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13,337 |
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82,342 |
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118,563 |
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17.06 |
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Transferred
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— |
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(5,158 |
) |
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5,158 |
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— |
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14.54 |
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Forfeited/canceled
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— |
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(27,454 |
) |
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(11,770 |
) |
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(39,224 |
) |
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14.67 |
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Nonvested shares at September 30, 2014
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52,884 |
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293,880 |
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646,490 |
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993,254 |
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$ |
14.76 |
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Unrecognized stock-based compensation expense as of
September 30, 2014 (1)
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$ |
563 |
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$ |
3,357 |
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$ |
15,939 |
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$ |
19,859 |
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Weighted average remaining vesting period as of September 30,
2014
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2.32 |
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4.28 |
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4.29 |
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4.18 |
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(1) |
The unrecognized compensation expense
is expected to be recognized over a weighted-average period of
approximately 4.18 years. |
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