Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.3.0.814
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2015
Stock-Based Compensation  
Schedule of employee stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

    

2015

    

2014

    

2015

    

2014

 

Employee stock-based compensation expense

 

$

3,408

 

$

2,676

 

$

10,157

 

$

8,443

 

Tax effect on employee stock-based compensation expense

 

 

(1,363)

 

 

(1,070)

 

 

(4,063)

 

 

(3,377)

 

Net effect on income

 

$

2,045

 

$

1,606

 

$

6,094

 

$

5,066

 

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

    

2015

    

2014

    

2015

    

2014

 

Grant date fair value of options

 

 

 —

 

$

16.80

 

$

20.90

 

$

16.81

 

Volatility

 

 

 —

 

 

33.7

%  

 

37.2

%  

 

37.3

%  

Risk-free interest rate

 

 

 —

 

 

2.0

%  

 

1.7

%  

 

1.9

%  

Dividend yield

 

 

 —

 

 

 —

%  

 

 —

%  

 

 —

%  

Expected term (in years)

 

 

 —

 

 

6.0

 

 

6.0

 

 

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, 2014

 

4,265,337

 

$

10.73

 

4.7

 

$

163,830

 

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

 

Granted

 

123,410

 

 

52.67

 

 

 

 

 

 

Exercised

 

(271,004)

 

 

8.12

 

 

 

 

 

 

Forfeited

 

(28,403)

 

 

46.07

 

 

 

 

 

 

Outstanding as of June 30, 2015

 

3,812,564

 

 

13.86

 

4.8

 

 

105,196

 

Granted

 

 —

 

 

 —

 

 

 

 

 

 

Exercised

 

(249,970)

 

 

6.15

 

 

 

 

 

 

Forfeited

 

(2,403)

 

 

47.33

 

 

 

 

 

 

Outstanding as of September 30, 2015

 

3,560,191

 

 

14.38

 

4.8

 

 

64,068

 

Options exercisable

 

3,234,095

 

 

11.53

 

4.4

 

 

63,173

 

 

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, 2014

 

1,098,674

 

$

33.72

 

Granted

 

207,531

 

 

53.89

 

Vested

 

(358,166)

 

 

20.44

 

Expired/cancelled

 

 —

 

 

 —

 

Forfeited

 

(6,628)

 

 

33.53

 

Outstanding as of March 31, 2015

 

941,411

 

 

38.61

 

Granted

 

 —

 

 

 —

 

Vested

 

 —

 

 

 —

 

Forfeited

 

(5,869)

 

 

45.98

 

Outstanding as of June 30, 2015

 

935,542

 

 

43.18

 

Granted

 

2,000

 

 

45.21

 

Vested

 

(17,126)

 

 

30.29

 

Forfeited

 

(2,414)

 

 

44.84

 

Outstanding as of September 30, 2015

 

918,002

 

 

43.42