|
Capital Stock (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Treasury Stock |
Below is a
summary of the Company’s treasury stock activity for the
years ended December 31, 2012 and 2013:
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|
|
|
|
|
|
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| |
|
Number of
Treasury
Shares |
|
|
Cost |
|
|
Balance at January 1,
2012
|
|
|
3,391,592 |
|
|
$ |
45,219 |
|
|
Restricted stock
forfeitures (1)
|
|
|
14,423 |
|
|
|
— |
|
|
Restricted stock
withholdings (2)
|
|
|
147,070 |
|
|
|
3,263 |
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2012
|
|
|
3,553,085 |
|
|
$ |
48,482 |
|
|
Restricted stock
forfeitures (1)
|
|
|
22,653 |
|
|
|
— |
|
|
Restricted stock
withholdings (2)
|
|
|
119,197 |
|
|
|
3,464 |
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 31, 2013
|
|
|
3,694,935 |
|
|
$ |
51,946 |
|
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|
|
|
|
|
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|
|
| (1) |
The Company repurchased forfeited and canceled restricted
shares at a cost of $0.001 per share in accordance with the
Company’s Amended and Restated 2006 Long Term Incentive
Plan.
|
| (2) |
The Company withheld restricted shares as a result of the
election by certain employees to satisfy their tax liabilities upon
vesting in restricted stock. The Company determined the number of
shares to be withheld based upon market values that ranged from
$22.40 to $30.23 per share.
|
|
| Stock Options |
Below is a
summary of stock option activity and related information for the
years ended December 31, 2011, 2012 and 2013:
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|
Year Ended
December 31, 2011 |
|
|
Year Ended
December 31, 2012 |
|
|
Year Ended
December 31, 2013 |
|
|
|
|
|
|
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Number of
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Aggregate
Intrinsic
Value |
|
|
Outstanding at
January 1
|
|
|
140,356 |
|
|
$ |
7.63 |
|
|
|
82,166 |
|
|
$ |
7.63 |
|
|
|
22,022 |
|
|
$ |
7.63 |
|
|
|
|
|
|
Exercised
|
|
|
(58,190 |
) |
|
$ |
7.63 |
|
|
|
(60,144 |
) |
|
$ |
7.63 |
|
|
|
(7,438 |
) |
|
$ |
7.63 |
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
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|
|
Outstanding at
December 31
|
|
|
82,166 |
|
|
$ |
7.63 |
|
|
|
22,022 |
|
|
$ |
7.63 |
|
|
|
14,584 |
|
|
$ |
7.63 |
|
|
$ |
375 |
|
|
|
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|
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|
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|
Vested options at
December 31
|
|
|
82,166 |
|
|
$ |
7.63 |
|
|
|
22,022 |
|
|
$ |
7.63 |
|
|
|
14,584 |
|
|
$ |
7.63 |
|
|
$ |
375 |
|
|
|
|
|
|
|
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|
| Restricted Stock |
Below is a
summary of restricted stock activity for the years ended
December 31, 2011, 2012 and 2013:
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| |
|
Year Ended
December 31, 2011 |
|
|
Year Ended
December 31, 2012 |
|
|
Year Ended
December 31, 2013 |
|
| |
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Shares of
Restricted
Stock |
|
|
Weighted
Average
Grant
Date Fair
Value |
|
|
Outstanding at January
1
|
|
|
1,254,691 |
|
|
$ |
14.60 |
|
|
|
1,384,390 |
|
|
$ |
16.85 |
|
|
|
1,534,163 |
|
|
$ |
18.85 |
|
|
Granted
|
|
|
424,436 |
|
|
$ |
19.45 |
|
|
|
653,229 |
|
|
$ |
21.70 |
|
|
|
271,532 |
|
|
$ |
30.09 |
|
|
Vested
|
|
|
(288,204 |
) |
|
$ |
10.84 |
|
|
|
(489,033 |
) |
|
$ |
17.00 |
|
|
|
(522,129 |
) |
|
$ |
17.27 |
|
|
Canceled
|
|
|
(4,613 |
) |
|
$ |
18.35 |
|
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
|
$ |
— |
|
|
Forfeited
|
|
|
(1,920 |
) |
|
$ |
14.34 |
|
|
|
(14,423 |
) |
|
$ |
18.58 |
|
|
|
(22,653 |
) |
|
$ |
22.92 |
|
|
|
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|
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|
|
|
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|
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|
Outstanding at December
31
|
|
|
1,384,390 |
|
|
$ |
16.85 |
|
|
|
1,534,163 |
|
|
$ |
18.85 |
|
|
|
1,260,913 |
|
|
$ |
21.86 |
|
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|
| Number of Shares Vested Under Restricted Stock Unit Awards |
Below is a
table summarizing the potential number of shares that could vest
under restricted stock unit awards granted during the years ended
December 31, 2011, 2012 and 2013 at each of the three levels
of financial performance (excluding forfeitures):
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| |
|
Granted During the Year
Ended December 31, |
|
| |
|
2011 |
|
|
2012 |
|
|
2013 |
|
| |
|
Number of
Shares
Vesting |
|
|
Value at
Grant |
|
|
Number of
Shares
Vesting |
|
|
Value at
Grant |
|
|
Number of
Shares
Vesting |
|
|
Value at
Grant |
|
|
at IRR of at least
8.5%
|
|
|
51,239 |
|
|
$ |
991 |
|
|
|
50,981 |
|
|
$ |
1,103 |
|
|
|
38,366 |
|
|
$ |
1,129 |
|
|
at IRR of at least
10.5%
|
|
|
102,488 |
|
|
$ |
1,983 |
|
|
|
101,974 |
|
|
$ |
2,206 |
|
|
|
76,741 |
|
|
$ |
2,259 |
|
|
at IRR of at least
12.5%
|
|
|
153,727 |
|
|
$ |
2,975 |
|
|
|
152,955 |
|
|
$ |
3,308 |
|
|
|
115,107 |
|
|
$ |
3,389 |
|
|