Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.7.0.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
Stock-Based Compensation  
Schedule of stock-based compensation expense

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

    

2017

    

2016

Stock-based compensation expense

 

$

7,458

 

$

11,615

Tax effect on stock-based compensation expense

 

 

(2,800)

 

 

(4,646)

Net effect on income

 

$

4,658

 

$

6,969

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

    

2017

    

2016

    

Grant date fair value of options

 

$

14.51

 

$

20.51

 

Volatility

 

 

43.8

%  

 

42.1

%  

Risk-free interest rate

 

 

2.1

%  

 

1.4

%  

Dividend yield

 

 

 —

%  

 

 —

%  

Expected term (in years)

 

 

6.3

 

 

6.6

 

 

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, 2016

 

3,033,194

 

$

16.33

 

4.3

 

$

63,264

 

  Granted

 

75,238

 

 

31.70

 

 

 

 

 

 

  Exercised

 

(208,334)

 

 

9.12

 

 

 

 

 

 

  Forfeited

 

(9,062)

 

 

45.81

 

 

 

 

 

 

Outstanding as of March 31, 2017

 

2,891,036

 

 

17.15

 

4.5

 

 

50,792

 

Options exercisable

 

2,612,682

 

 

15.50

 

4.0

 

 

49,767

 

 

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, 2016

 

1,894,759

 

$

30.40

Granted

 

872,941

 

 

31.89

Vested

 

(526,572)

 

 

31.68

Forfeited

 

(20,084)

 

 

27.52

Outstanding as of March 31, 2017

 

2,221,044

 

 

31.98