Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.4.0.3
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2016
Stock-Based Compensation  
Schedule of employee stock-based compensation expense

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

    

2016

    

2015

Employee stock-based compensation expense

 

$

11,615

 

$

3,419

Tax effect on employee stock-based compensation expense

 

 

(4,646)

 

 

(1,502)

Net effect on income

 

$

6,969

 

$

1,917

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

    

2016

    

2015

    

Grant date fair value of options

 

$

20.51

 

$

21.15

 

Volatility

 

 

42.1

%  

 

37.5

%  

Risk-free interest rate

 

 

1.4

%  

 

1.7

%  

Dividend yield

 

 

 —

%  

 

 —

%  

Expected term (in years)

 

 

6.6

 

 

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

Options exercisable

 

3,111,018

 

 

12.97

 

4.2

 

 

50,188

 

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