Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Plan (Tables)

v2.4.0.6
Stock-Based Compensation Plan (Tables)
 12 Months Ended
Dec. 31, 2012
Stock-Based Compensation Plan [Abstract]  
Schedule Of Valuation Assumptions Used In Computing Fair Value Of Stock-Based Awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

2011

 

2010

Number of options

 

270

 

500

 

233

 

100

 

540

Option vesting period

 

1-5 Years

 

3-6 Years

 

1-5 Years

 

Immediate

 

1 - 4.5 Years

Grant price

 

$7.64 - $9.89

 

$13.00 - $16.00

 

$6.22 - $8.86

 

$6.85

 

$6.25 - $6.85

Dividend yield

 

0.00%

 

0.00%

 

0.00%

 

0.00%

 

0.00%

Expected volatility (a)

 

53.3% - 59.2%

 

50.3% - 58.6%

 

55.8% - 59.6%

 

54.6% - 71.7%

 

53.0% - 55.1%

Risk-free interest rate

 

.71% - 1.44%

 

.39% - 1.04%

 

1.41% - 2.92%

 

0.34% - 2.10%

 

1.58% - 2.75%

Expected life (years) (b)

 

5.31 - 7.08

 

3.25 - 6.25

 

5.31 - 6.95

 

1.29 - 5.00

 

5.31 - 6.45

Weighted average fair value

 

$4.40 - $5.34

 

$2.64 - $3.94

 

$3.65 - $5.04

 

$2.18 - $3.33

 

$3.26 - $3.83

 

(a)

Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. 

 

(b)

Because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. 

Schedule Of Share Based Payment Award Restricted Stock Valuation Assumptions

 

 

 

 

 

 

 

2011

 

2010

Number issued

 

250

 

500

Vesting Period

 

$14.00 Stock Price target

 

$10.00 - $12.00 Stock Price target

Grant Price

 

$7.34

 

$6.85

Dividend Yield

 

0.00%

 

0.00%

Expected Volatility (a)

 

58.0%

 

56.6%

Risk-free Interest Rate

 

2.64%

 

2.88%

Expected Life (Years)

 

1.90

 

1.12 - 1.62

Weighted Average Fair Value

 

$6.27

 

$5.83 - $6.13

 

(a)

Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company.

Schedule Of Total Non-Cash Stock Compensation Expense Related To Stock Options And Restricted Stock

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

Restricted stock

 

$
739 

 

$
2,462 

 

$
2,292 

Restricted stock units

 

 

 -

 

 

 -

 

 
683 

Stock options

 

 
1,027 

 

 
629 

 

 
1,989 

Stock subscription expense

 

 

 -

 

 

 -

 

 
145 

Total

 

$
1,766 

 

$
3,091 

 

$
5,109 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Predecessor Company

 

 

 

 

 

 

 

 

Period from July 1, 2009 to May 28, 2010

 

 

 

 

 

 

 

 

 

 

Deferred compensation

 

 

 

 

 

 

 

$
1,172 

Stock options

 

 

 

 

 

 

 

 
132 

Total

 

 

 

 

 

 

 

$
1,304 

 

Summary Of Changes In Outstanding Awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

Weighted Average Exercise Price

 

Aggregate Intrinsic Value

 

Restricted Stock

 

Restricted Stock Units

 

Outstanding at December 31, 2011

 

 
2,588 

 

$
7.13 

 

$
877 

 

 
750 

 

 
92 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 
770 

 

 
12.40 

 

 

 

 

 

 -

 

 

 -

 

Exercised

 

 
(561)

 

 
5.30 

 

 

 

 

 

 -

 

 
(92)

 

Expired

 

 
(45)

 

 
8.35 

 

 

 

 

 

 -

 

 

 -

 

Forfeited

 

 
(40)

 

 
7.61 

 

 

 

 

 

 -

 

 

 -

 

Outstanding at December 31, 2012

 

 
2,712 

 

$
8.98 

 

$

 -

 

 
750 

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at December 31, 2012

 

 
1,557 

 

$
7.82 

 

$
594 

 

 

 

 

 

 

 

 

Schedule Of Shares Authorized Under Stock Option Plans, By Exercise Price Range

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise Price Range

 

Outstanding

 

Exercisable

 

Remaining Life In Years

 

Weighted Average Exercise Price

$4.00 - $9.06

 

 
1,767 

 

 
1,127 

 

 
6.0 

 

$
6.99 

$9.07 - $16.00

 

 
945 

 

 
430 

 

 
8.5 

 

$
9.99 

 

 

 
2,712 

 

 
1,557 

 

 
6.3 

 

$
7.82