Annual report pursuant to Section 13 and 15(d)

CAPITAL TRANSACTIONS (Tables)

v3.6.0.2
CAPITAL TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2016
Capital Transactions  
Schedule of stock option activity
Stock option activity for 2016, 2015, and 2014 consisted of the following (share amounts in thousands, except for per share information):
 
Number of
Shares
 
Weighted Average Exercise
Price Per Share
Options outstanding at January 1, 2014
1,926

 
$
12.54

Granted
258

 
15.38

Forfeited or canceled
(23
)
 
13.33

Exercised
(124
)
 
6.42

Options outstanding at December 31, 2014
2,037

 
11.69

Granted
335

 
14.04

Forfeited or canceled
(284
)
 
14.07

Exercised
(405
)
 
9.78

Options outstanding at December 31, 2015
1,683

 
12.21

Forfeited or canceled
(124
)
 
11.95

Exercised
(35
)
 
4.74

Options outstanding at December 31, 2016
1,524

 
$
12.41

Schedule of weighted-average assumptions using Black-Scholes option-pricing model for estimating fair value of each option granted
The fair value of each option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted average assumptions for the years ended December 31, 2015 and 2014:
 
2015
 
2014
Weighted average grant date fair value of grants
$
4.79

 
$
6.53

Expected life (in years)
5.0 to 6.0

 
6.0

Risk-free interest rate
1.5 to 1.8

 
1.5

Expected volatility
42.6 to 52.3

 
56.7

Dividend yield
2.8 to 3.6

 
2.6

Summary of options outstanding and exercisable
The following table summarizes information about options outstanding and exercisable at December 31, 2016 (share amounts in thousands, except per share information):
 
 
Options Outstanding
 
Options Exercisable
Range of Option
Prices Per Share
 
Options
Outstanding
 
Weighted-Avg.
Remaining
Contractual Life
 
Weighted-Avg.
Exercise Price
Per Share
 
Options
Exercisable
 
Weighted-Avg.
Remaining
Contractual Life
 
Weighted-Avg.
Exercise Price
Per Share
$2.35 to $9.99
 
152

 
3.3
 
$
5.38

 
152

 
3.3
 
$
5.38

$10.00 to $11.99
 
397

 
6.1
 
11.78

 
340

 
6.1
 
11.74

$12.00 to $13.99
 
555

 
5.7
 
12.87

 
463

 
5.4
 
12.66

$14.00 to $17.70
 
420

 
7.8
 
14.95

 
246

 
7.5
 
15.44

 
 
1,524

 

 


 
1,201

 

 


Schedule of restricted stock unit activity
Restricted stock unit activity for the period ended December 31, 2016, 2015, and 2014 is as follows: (share amounts in thousands, except per share information):
 
Number of
Shares
 
Weighted Average
Grant Date
Fair Value
Units outstanding at January 1, 2014
32

 
$
12.47

Granted
156

 
10.73

Issued
—

 
—

Forfeited
(8
)
 
15.37

Units outstanding at December 31, 2014
180

 
15.09

Granted
679

 
12.61

Issued
(30
)
 
13.63

Forfeited
(85
)
 
12.84

Units outstanding at December 31, 2015
744

 
12.48

Granted
281

 
9.49

Issued
(154
)
 
13.05

Forfeited
(33
)
 
12.20

Units outstanding at December 31, 2016
838

 
11.39