Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.1.9
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2015
Stock-Based Compensation  
Schedule of employee stock-based compensation expense

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2015

 

2014

 

 

 

 

 

 

 

Employee stock-based compensation expense

 

$
3,419

 

$
2,568

 

Tax effect on employee stock-based compensation expense

 
(1,502

)
(1,027

)

Net effect on income

 

$
1,917

 

$
1,541

 

 

Schedule of weighted average assumptions used to value options granted

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2015

 

2014

 

 

 

 

 

 

 

Grant date fair value of options

 

$
21.15 

 

$
16.81 

 

Volatility

 
37.5 

%
38.7 

%

Risk-free interest rate

 
1.7 

%
1.8 

%

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, 2014

 
4,265,337

 

$
10.73

 

 

 

 

 

Granted

 
148,677

 
54.02

 

 

 

 

 

Exercised

 
(415,512

)
8.93

 

 

 

 

 

Forfeited

 
(9,941

)
24.94

 

 

 

 

 

Outstanding as of March 31, 2015

 
3,988,561

 
12.50

 
4.8

 

$
173,837

 

Options exercisable

 
3,539,385

 
9.31

 
4.2

 
165,525

 

 

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, 2014

 
1,098,674

 

$
33.72

 

Granted

 
207,531

 
53.89

 

Vested

 
(176,532

)
26.30

 

Forfeited

 
(6,637

)
33.53

 

Balance at March 31, 2015

 
1,123,036

 
38.61