Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v3.8.0.1
Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2017
Retirement Benefits [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 September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Risk-free interest rate
1.8%
 
1.1%
 
1.8%
 
1.1%
Expected life of options — years
4.66
 
4.48
 
4.60
 
4.27
Expected stock price volatility
24%
 
22%
 
24%
 
22%
Expected dividend yield
0.7%
 
0.0%
 
0.7%
 
0.0%
Stock options activity under share-based payment plans
The following table summarizes stock option activity under our share-based plans for the nine months ended September 30, 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
27,218

 
$
5.49

 
 
 
 
Exercised
(65,413
)
 
$
3.20

 
 
 
 
Forfeited, cancelled or expired
(4,551
)
 
$
3.90

 
 
 
 
Outstanding as of September 30, 2017
289,902

 
$
3.75

 
6.87
 
$
513,625

Exercisable as of September 30, 2017
128,288

 
$
3.16

 
5.67
 
$
302,230

Summary of restricted stock unit and stock award activity
The following table summarizes the restricted stock unit, including PRSUs, activity under our share-based plans for the nine months ended September 30, 2017:
 
Shares
 
Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2016
29,893

 
$
4.03

Granted
11,618

 
$
5.38

Vested
(8,561
)
 
$
3.91

Forfeited
(984
)
 
$
4.23

Nonvested as of September 30, 2017
31,966

 
$
4.55