Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

v2.4.1.9
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
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,
 
2014
 
2013
 
2012
Risk-free interest rate
1.6%
 
1.4%
 
0.8%
Expected life of options — years
4.72
 
4.73
 
5.06
Expected stock price volatility
33%
 
47%
 
49%
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, 2014, 2013 and 2012 (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, 2012
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

 
 
 
 
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

 
7.09
 
$
246,067

Exercisable as of December 31, 2014
121,272

 
$
2.27

 
5.28
 
$
179,913


(1)
The weighted-average exercise price for options outstanding as of December 31, 2012 in the table above has been adjusted to reflect the reduction to the exercise prices related to the December 28, 2012 special cash dividend.
Summary of restricted stock unit activity
The following table summarizes the nonvested restricted stock unit activity under our share-based plans for the years ended December 31, 2014, 2013 and 2012 (shares in thousands):
 
Shares
 
Grant Date Fair Value
Nonvested as of January 1, 2012
421

 
$
1.46

Granted
8

 
$
—

Vested
—

 
$
—

Forfeited
—

 
$
—

Nonvested as of December 31, 2012
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