Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation Plans (Tables)

v2.4.1.9
Stock-Based Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Outstanding Awards Under 2013 Omnibus Equity Incentive Plan

The following table summarizes the Company’s activity under the 2013 Plan for the three months ended March 31, 2015 (dollars in thousands, except per share data):

 

     RSA Grants to
Non-employee
Directors		      RSU Grants to
Employees		     RSU Grants to
Independent
Contractors		     Total     Weighted-
Average Grant
Date Fair Value
Per Share		  

Nonvested shares at December 31, 2014

      42,882         516,437        647,690        1,207,009      $ 18.23   

Granted

            

February 2015

      —           15,847        9,720        25,567        38.58   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total Granted

   —        15,847      9,720      25,567      38.58   

Vested

   —        (53,972 )    (121,150 )    (175,122 )    14.59   

Transferred

   —        (6,877 )    6,877      —        14.54   

Forfeited/canceled

   —        (3,422 )    (5,502 )    (8,924 )    20.71   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Nonvested shares at March 31, 2015 (1)

   42,882      468,013      537,635      1,048,530    $ 19.32   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Unrecognized stock-based compensation expense as of March 31, 2015 (2)

 $ 444    $ 9,988    $ 17,789    $ 28,221   
  

 

 

     

 

 

    

 

 

    

 

 

    

Weighted average remaining vesting period (years) as of March 31, 2015

   1.87      4.29      3.83      3.95   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

(1)  Nonvested RSU’s will be settled through the issuance of new shares of common stock.
(2)  The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.95 years.
Components of Stock-Based Compensation Included in Condensed 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):

 

     Three Months
Ended March 31, 		 
     2015      2014  

Employee stock purchase plan

      62         —     

RSAs – non-employee directors

      59         30   

RSUs – employees

      527         200   

RSUs – independent contractors

      1,259         487   
  

 

 

     

 

 

  
$ 1,907    $ 717