Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v3.7.0.1
Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2017
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:
 
For the Three Months Ended March 31,
 
2017
 
2016
Risk-free interest rate
1.6%
 
1.0%
Expected life of options — years
3.71
 
3.76
Expected stock price volatility
26%
 
24%
Expected dividend yield
0.8%
 
0.0%
Stock options activity under share-based payment plans
The following table summarizes stock option activity under our share-based plans for the three months ended March 31, 2017:
 
Options
 
Weighted-
Average
Exercise
Price Per Share
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
Outstanding as of December 31, 2016
332,648

 
$
3.50

 
 
 
 
Granted
1,318

 
$
4.75

 
 
 
 
Exercised
(16,720
)
 
$
2.85

 
 
 
 
Forfeited, cancelled or expired
(1,384
)
 
$
3.74

 
 
 
 
Outstanding as of March 31, 2017
315,862

 
$
3.54

 
7.15
 
$
508,511

Exercisable as of March 31, 2017
112,521

 
$
2.84

 
5.81
 
$
260,094

Summary of restricted stock unit and stock award activity
The following table summarizes the restricted stock unit, including PRSUs, under our share-based plans for the three months ended March 31, 2017:
 
Shares
 
Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2016
29,893

 
$
4.03

Granted
854

 
$
4.39

Vested
(367
)
 
$
3.67

Forfeited
(242
)
 
$
4.06

Nonvested as of March 31, 2017
30,138

 
$
4.05