Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

v3.8.0.1
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 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 Years Ended December 31,
 
2017
 
2016
 
2015
Risk-free interest rate
1.8%
 
1.1%
 
1.4%
Expected life of options — years
4.59
 
4.25
 
4.17
Expected stock price volatility
24%
 
22%
 
26%
Expected dividend yield
0.7%
 
0.0%
 
0.0%

The following table summarizes the weighted-average assumptions used to compute the fair value of options granted in 2015 to third parties, other than non-employee members of our board of directors:
 
For the Year Ended December 31,
 
2015
Risk-free interest rate
2.0%
Expected life of options — years
7.00
Expected stock price volatility
37%
Expected dividend yield
0.0%
Stock options activity under share-based payment plans
The following table summarizes stock option activity under our share-based plans for the years ended December 31, 2017, 2016 and 2015:
 
Options
 
Weighted-
Average
Exercise
Price Per Share
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
Outstanding at the beginning of January 1, 2015
267,854

 
$
2.72

 
 
 
 
Granted
145,366

 
$
3.95

 
 
 
 
Exercised
(57,667
)
 
$
1.88

 
 
 
 
Forfeited, cancelled or expired
(17,072
)
 
$
4.60

 
 
 
 
Outstanding as of December 31, 2015
338,481

 
$
3.29

 
 
 
 
Granted
55,222

 
$
4.14

 
 
 
 
Exercised
(50,728
)
 
$
2.66

 
 
 
 
Forfeited, cancelled or expired
(10,327
)
 
$
4.30

 
 
 
 
Outstanding as of December 31, 2016
332,648

 
$
3.50

 
 
 
 
Granted
27,339

 
$
5.49

 
 
 
 
Exercised
(73,296
)
 
$
3.21

 
 
 
 
Forfeited, cancelled or expired
(6,234
)
 
$
4.07

 
 
 
 
Outstanding as of December 31, 2017
280,457

 
$
3.76

 
6.65
 
$
453,955

Exercisable as of December 31, 2017
131,025

 
$
3.23

 
5.47
 
$
279,101

Summary of restricted stock unit and stock award activity
The following table summarizes the restricted stock unit, including PRSU, activity under our share-based plans for the years ended December 31, 2017, 2016 and 2015:
 
Shares
 
Grant Date
Fair Value
Per Share
Nonvested at the beginning of January 1, 2015
11,575

 
$
3.47

Granted
8,961

 
$
3.92

Vested
(3,464
)
 
$
3.44

Forfeited
(984
)
 
$
3.52

Nonvested as of December 31, 2015
16,088

 
$
3.73

Granted
18,523

 
$
4.21

Vested
(4,212
)
 
$
3.68

Forfeited
(506
)
 
$
3.75

Nonvested as of December 31, 2016
29,893

 
$
4.03

Granted
11,721

 
$
5.35

Vested
(8,842
)
 
$
3.92

Forfeited
(1,449
)
 
$
4.42

Nonvested as of December 31, 2017
31,323

 
$
4.54