Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v2.4.1.9
Stock-based compensation (Tables)
3 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Assumptions Used to Estimate Fair Value of Stock Option Award Using Black-Scholes Valuation Model
The fair value of each option grant is estimated on the date of grant using the Black-Scholes model with the following weighted-average assumptions: 
 
 
Three months ended March 31, 2015
Expected life (in years)
6.5

Risk-free interest rate
1.50
%
Volatility
37
%
Dividend yield
0
%
Summary of Stock Option Activity Under Stock Option and Incentive Plans
A summary of the status of stock option awards and changes during the three months ended March 31, 2015 are presented below:

 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Intrinsic
Value
 
 
 
 
 
 
 
 
Outstanding at December 31, 2013
766,578

 
$
5.00

 
 
 
 

2014 grants
1,280,000

 
$
5.07

 
 
 
 

Exercised

 

 
 
 
 

Cancelled, expired, or forfeited
22,500

 

 
 
 
 

Outstanding at December 31, 2014 and March 31, 2015
2,024,078

 
$
5.04

 
8.99
 
$

Exercisable at March 31, 2015
422,700

 
$
5.07

 
8.99
 
$