Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v3.5.0.2
Benefit Plans (Tables)
 9 Months Ended
Sep. 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 September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Risk-free interest rate
1.1%
 
1.4%
 
1.1%
 
1.4%
Expected life of options — years
4.48
 
4.22
 
4.27
 
4.20
Expected stock price volatility
22%
 
26%
 
22%
 
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 nine months ended September 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
53,346

 
$
4.13

 
 
 
 
Exercised
(36,824
)
 
$
2.58

 
 
 
 
Forfeited, cancelled or expired
(9,992
)
 
$
4.32

 
 
 
 
Outstanding as of September 30, 2016
345,011

 
$
3.47

 
7.49
 
$
244,220

Exercisable as of September 30, 2016
137,541

 
$
2.80

 
6.14
 
$
188,511

Summary of restricted stock unit and stock award activity
The following table summarizes the restricted stock unit, including performance-based restricted stock units ("PRSUs"), and stock award activity under our share-based plans for the nine months ended September 30, 2016:
 
Shares
 
Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2015
16,088

 
$
3.73

Granted
17,453

 
$
4.21

Vested
(4,009
)
 
$
3.66

Forfeited
(456
)
 
$
3.71

Nonvested as of September 30, 2016
29,076

 
$
4.02