Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

    

2016

    

2015

 

2016

    

2015

Stock-based compensation expense

 

$

7,554

 

$

3,408

 

$

25,872

 

$

10,157

Tax effect on stock-based compensation expense

 

 

(3,022)

 

 

(1,363)

 

 

(10,349)

 

 

(4,063)

Net effect on income

 

$

4,532

 

$

2,045

 

$

15,523

 

$

6,094

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

    

2016

    

2015

    

 

2016

    

2015

 

Grant date fair value of options

 

$

14.46

 

$

 —

 

 

$

9.56

 

$

20.90

 

Volatility

 

 

42.2

%  

 

 —

%  

 

 

42.2

%  

 

37.2

%  

Risk-free interest rate

 

 

1.1

%  

 

 —

%  

 

 

1.4

%  

 

1.7

%  

Dividend yield

 

 

 —

%  

 

 —

%  

 

 

 —

%  

 

 —

%  

Expected term (in years)

 

 

5.0

 

 

 —

 

 

 

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

  Granted

 

2,500

 

 

38.05

 

 

 

 

 

  Exercised

 

(99,957)

 

 

8.88

 

 

 

 

 

  Forfeited

 

(3,111)

 

 

45.51

 

 

 

 

 

Outstanding as of September 30, 2016

 

3,283,331

 

 

15.62

 

4.3

 

 

73,756

Options exercisable

 

2,922,108

 

 

13.22

 

3.8

 

 

71,331

 

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

Granted

 

290,000

 

 

38.05

Vested

 

(75,642)

 

 

31.20

Forfeited

 

(24,352)

 

 

30.60

Outstanding as of September 30, 2016

 

1,981,775

 

 

31.76