Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans (Tables)

v3.4.0.3
Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 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:
 
For the Three Months Ended March 31,
 
2016
Risk-free interest rate
1.0%
Expected life of options — years
3.76
Expected stock price volatility
24%
Expected dividend yield
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, 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
4,327


$
3.62






Exercised
(2,230
)

$
1.80






Forfeited, cancelled or expired
(6,295
)

$
4.72






Outstanding as of March 31, 2016
334,283


$
3.28


7.39

$
226,265

Exercisable as of March 31, 2016
116,131


$
2.43


5.52

$
176,113

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 three months ended March 31, 2016:
 
Shares

Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2015
16,088


$
3.73

Granted
293


$
3.63

Vested
—


$
—

Forfeited
(113
)

$
3.68

Nonvested as of March 31, 2016
16,268


$
3.72