Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation Plan (Tables)

Stock-Based Compensation Plan (Tables)
6 Months Ended
Jun. 30, 2014
Stock-Based Compensation Plan [Abstract]  
Schedule Of Valuation Assumptions Used In Computing Fair Value Of Stock-Based Awards







Options Granted During the Six Months Ended June 30, 2014






Number of options



Option vesting period


1-5 Years

Grant price


$10.95 - $14.02

Dividend yield



Expected volatility (a)


45.7% - 55.1%

Risk-free interest rate


1.63% - 2.31%

Expected life (years) (b)


5.31 - 6.95

Weighted average fair value


$4.68 - $7.82



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.



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.