Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v3.5.0.2
Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]  
Fair value of options granted
The following table summarizes the weighted-average assumptions used to compute the fair value of options granted to employees and members of our board of directors:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Risk-free interest rate
1.2%
 
1.3%
 
1.2%
 
1.3%
Expected life of options — years
3.79
 
3.83
 
3.78
 
3.83
Expected stock price volatility
24%
 
26%
 
24%
 
26%
Expected dividend yield
0%
 
0%
 
0%
 
0%
Stock options activity under share-based payment plans
The following table summarizes stock option activity under our share-based plans for the six months ended June 30, 2016:
 
Options
 
Weighted-
Average
Exercise
Price Per Share
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
Outstanding as of December 31, 2015
338,481

 
$
3.29

 
 
 
 
Granted
16,007

 
$
3.87

 
 
 
 
Exercised
(6,694
)
 
$
1.97

 
 
 
 
Forfeited, cancelled or expired
(8,446
)
 
$
4.43

 
 
 
 
Outstanding as of June 30, 2016
339,348

 
$
3.32

 
7.26
 
$
216,996

Exercisable as of June 30, 2016
113,974

 
$
2.47

 
5.37
 
$
168,234

Summary of restricted stock unit and stock award activity
The following table summarizes the restricted stock unit and stock award activity under our share-based plans for the six months ended June 30, 2016:
 
Shares
 
Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2015
16,088

 
$
3.73

Granted
1,814

 
$
3.91

Vested
(193
)
 
$
3.91

Forfeited
(292
)
 
$
3.67

Nonvested as of June 30, 2016
17,417

 
$
3.74