Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.5.0.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Stock-Based Compensation  
Schedule of stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

    

2016

    

2015

 

2016

    

2015

Stock-based compensation expense

 

$
6,703

 

$
3,330

 

$
18,318

 

$
6,749

Tax effect on stock-based compensation expense

 

 
(2,681)

 

 
(1,332)

 

 
(7,327)

 

 
(2,700)

Net effect on income

 

$
4,022

 

$
1,998

 

$
10,991

 

$
4,049

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

    

2016

    

2015

    

 

2016

    

2015

 

Grant date fair value of options

 

$
13.26

 

$
20.60

 

 

$
9.49

 

$
20.90

 

Volatility

 

 
42.4

%  

 
36.8

%  

 

 
42.2

%  

 
37.2

%  

Risk-free interest rate

 

 
1.4

%  

 
1.8

%  

 

 
1.4

%  

 
1.7

%  

Dividend yield

 

 

 —

%  

 

 —

%  

 

 

 —

%  

 

 —

%  

Expected term (in years)

 

 
6.2

 

 
6.0

 

 

 
6.3

 

 
6.0

 

 

Summary of option activity under the Company's plans

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted-Average

    

 

 

 

 

 

 

Weighted-

 

Remaining

 

 

 

 

 

 

 

Average

 

Contractual Life

 

Aggregate

 

 

Options

 

Exercise Price

 

(Years)

 

Intrinsic Value

Outstanding as of December 31, 2015

 
3,533,791

 

$
15.03

 
4.7

 

$
61,199

  Granted

 
105,645

 

 
20.51

 

 

 

 

 

  Exercised

 
(152,220)

 

 
7.93

 

 

 

 

 

  Forfeited

 
(38,777)

 

 
35.93

 

 

 

 

 

Outstanding as of March 31, 2016

 
3,448,439

 

 
15.27

 
4.7

 

 
50,987

  Granted

 
55,719

 

 
31.03

 

 

 

 

 

  Exercised

 
(96,068)

 

 
11.17

 

 

 

 

 

  Forfeited

 
(24,191)

 

 
33.35

 

 

 

 

 

Outstanding as of June 30, 2016

 
3,383,899

 

 
15.43

 
4.5

 

 
67,219

Options exercisable

 
3,013,963

 

 
13.00

 
4.0

 

 
65,437

 

Summary of the activity for unvested restricted stock awards granted under the Company's plans

 

 

 

 

 

 

 

    

    

    

Weighted-

 

 

 

 

Average Grant

 

 

Number of

 

Date Fair Value

 

 

Shares

 

per Share

Outstanding as of December 31, 2015

 
2,153,211

 

 
35.63

Granted

 
424,844

 

 
20.57

Vested

 
(782,598)

 

 
35.09

Forfeited

 
(87,513)

 

 
32.94

Outstanding as of March 31, 2016

 
1,707,944

 

 
33.40

Granted

 
237,605

 

 
30.97

Vested

 
(110,999)

 

 
31.40

Forfeited

 
(42,781)

 

 
27.33

Outstanding as of June 30, 2016

 
1,791,769

 

 
31.57