Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.0.8
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2014
Stock-Based Compensation  
Schedule of employee stock-based compensation expense under the Company's plans

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Employee stock-based compensation expense

 

$

2,568

 

$

2,306

 

Tax effect on employee stock-based compensation expense

 

(1,027

)

(969

)

Net effect on income

 

$

1,541

 

$

1,337

 
Schedule of weighted average assumptions used to value options granted

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Grant date fair value of options

 

$

16.81

 

$

6.11

 

Volatility

 

38.7

%

40.4

%

Risk-free interest rate

 

1.8

%

1.0

%

Dividend yield

 

0.0

%

0.0

%

Expected term (in years)

 

6.0

 

6.0

 
Summary of option activity under the Company's plans

 

 

 

 

Options

 

Weighted-
Average
Exercise Price

 

Weighted-
Average
Remaining

Contractual
Life (Years)

 

Aggregate
Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2013

 

4,637,471

 

$

9.04

 

 

 

 

 

Granted

 

155,753

 

41.84

 

 

 

 

 

Exercised

 

(95,609

)

8.77

 

 

 

 

 

Forfeited

 

(4,150

)

9.00

 

 

 

 

 

Outstanding as of March 31, 2014

 

4,693,465

 

10.13

 

5.3

 

$

141,293

 

Options exercisable

 

3,554,956

 

8.40

 

4.5

 

112,980

 
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

 

 

 

 

 

 

 

Balance at December 31, 2013

 

901,551

 

$

16.50

 

Granted

 

240,626

 

41.83

 

Vested

 

(116,706

)

14.22

 

Forfeited

 

(10,324

)

26.94

 

Balance at March 31, 2014

 

1,015,147

 

22.69