Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

v3.3.1.900
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
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, 2015, 2014 and 2013:

 

 

 

Options

 

 

Weighted-

Average

Exercise

Price Per Share

 

 

Weighted-

Average

Remaining

Contractual

Term (Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at the beginning of January 1, 2013

 

 

274,512

 

 

$

1.92

 

 

 

 

 

 

 

 

 

Granted

 

 

57,228

 

 

$

3.59

 

 

 

 

 

 

 

 

 

Exercised

 

 

(61,056

)

 

$

1.31

 

 

 

 

 

 

 

 

 

Forfeited, cancelled or expired

 

 

(6,445

)

 

$

2.02

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2013

 

 

264,239

 

 

$

2.42

 

 

 

 

 

 

 

 

 

Granted

 

 

61,852

 

 

$

3.39

 

 

 

 

 

 

 

 

 

Exercised

 

 

(46,943

)

 

$

1.63

 

 

 

 

 

 

 

 

 

Forfeited, cancelled or expired

 

 

(11,294

)

 

$

4.08

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2014

 

 

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

 

 

 

7.49

 

 

$

267,813

 

Exercisable as of December 31, 2015

 

 

121,751

 

 

$

2.51

 

 

 

5.50

 

 

$

194,362

 

 
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 years ended December 31, 2015, 2014 and 2013:

 

 

 

Shares

 

 

Grant Date

Fair Value

Per Share

 

Nonvested at the beginning of January 1, 2013

 

 

429

 

 

$

3.25

 

Granted

 

 

6,873

 

 

$

3.59

 

Vested

 

 

(192

)

 

$

3.27

 

Forfeited

 

 

(126

)

 

$

3.61

 

Nonvested as of December 31, 2013

 

 

6,984

 

 

$

3.58

 

Granted

 

 

6,108

 

 

$

3.38

 

Vested

 

 

(1,138

)

 

$

3.62

 

Forfeited

 

 

(379

)

 

$

3.52

 

Nonvested as of December 31, 2014

 

 

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

 

 
Employees And Non Employee Stock Option [Member] | Employees and Members of Board of Directors [Member]  
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,

 

 

 

2015

 

 

2014

 

 

2013

 

Risk-free interest rate

 

 

1.4%

 

 

 

1.6%

 

 

 

1.4%

 

Expected life of options — years

 

4.17

 

 

4.72

 

 

4.73

 

Expected stock price volatility

 

 

26%

 

 

 

33%

 

 

 

47%

 

Expected dividend yield

 

 

0%

 

 

 

0%

 

 

 

0%

 

 
Employees And Non Employee Stock Option [Member] | Third Parties, Other Than Non-Employee Members of Board of Directors [Member]  
Fair value of options granted

The following table summarizes the weighted-average assumptions used to compute the fair value of options granted 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%