Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

v2.4.0.8
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Fair value of options granted to employees and members of our board of directors
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,
 
2013
 
2012
 
2011
Risk-free interest rate
1.4%
 
0.8%
 
1.1%
Expected life of options — years
4.73
 
5.06
 
5.27
Expected stock price volatility
47%
 
49%
 
68%
Expected dividend yield
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 years ended December 31, 2013, 2012 and 2011 (options in thousands):
 
Options
 
Weighted-
Average
Exercise
Price (1)
 
Weighted-Average
Remaining
Contractual Term
(Years)
 
Aggregate
Intrinsic
Value
Outstanding at the beginning of January 1, 2011
401,870

 
$
1.32

 
 
 
 
Granted
77,450

 
$
1.80

 
 
 
 
Exercised
(13,300
)
 
$
0.87

 
 
 
 
Forfeited, cancelled or expired
(26,440
)
 
$
4.15

 
 
 
 
Outstanding as of December 31, 2011
439,580

 
$
1.25

 
 
 
 
Granted
58,626

 
$
2.53

 
 
 
 
Exercised
(214,199
)
 
$
0.59

 
 
 
 
Forfeited, cancelled or expired
(9,495
)
 
$
3.09

 
 
 
 
Outstanding as of December 31, 2012
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

 
7.12
 
$
327,398

Exercisable as of December 31, 2013
114,278

 
$
2.26

 
5.29
 
$
179,549


(1)
The weighted-average exercise price for options outstanding as of December 28, 2012 were adjusted in 2012 to reflect the reduction to the exercise price related to the December 2012 special cash dividend.
Summary of restricted stock unit activity
The following table summarizes the nonvested restricted stock award and restricted stock unit activity under our share-based plans for the years ended December 31, 2013, 2012 and 2011 (shares in thousands):
 
Shares
 
Grant Date Fair Value
Nonvested as of January 1, 2011
2,397

 
$
2.57

Granted
—

 
$
—

Vested restricted stock awards
(1,854
)
 
$
3.30

Vested restricted stock units
(101
)
 
$
3.08

Forfeited
(21
)
 
$
3.05

Nonvested as of December 31, 2011
421

 
$
1.46

Granted
8

 
$
—

Vested restricted stock awards
—

 
$
—

Vested restricted stock units
—

 
$
—

Forfeited
—

 
$
—

Nonvested as of December 31, 2012
429

 
$
3.25

Granted
6,873

 
$
3.59

Vested restricted stock units
(192
)
 
$
3.27

Forfeited
(126
)
 
$
3.61

Nonvested as of December 31, 2013
6,984

 
$
3.58