Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v2.4.0.8
Stock-Based Awards (Tables)
 6 Months Ended
Jun. 30, 2014
Share-based Compensation [Abstract]  
Stock-Based Compensation Expense
Stock-based compensation expense is included in the following line items in the accompanying consolidated statements of operations (in thousands):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
2014
 
2013
2014
 
2013
Selling and marketing
$
1,096

 
$
894

 
$
2,289

 
$
1,856

General and administrative
2,688

 
2,651

 
5,521

 
5,398

Stock-based compensation expense before income taxes
3,784

 
3,545

 
7,810

 
7,254

Income tax benefit
(1,386
)
 
(1,283
)
 
(2,822
)
 
(2,589
)
Stock-based compensation expense after income taxes
$
2,398

 
$
2,262

 
$
4,988

 
$
4,665

 
 
 
 
 
 
 
 
Summary of Stock-Based Awards Granted
A summary of the stock-based awards granted during the six months ended June 30, 2014 is as follows:
 
Six Months Ended June 30, 2014
 
Number of Awards Granted

Weighted Average per Share Fair Value
Stock appreciation rights
404,141


$15.17
Restricted stock units
227,830


$55.10
Employee stock purchase plan options
21,776


$12.85
Weighted Average Assumptions Used In Black-Scholes Option Pricing Model
The weighted average assumptions used in the valuation of each for the six months ended June 30, 2014 are as follows: 
 
 
Six Months Ended June 30, 2014
 
 
 
Black-Scholes
 
 
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
Volatility factor
 
 
36.4
%
 
22.1
%
Risk-free interest rate
 
 
1.54
%
 
0.09
%
Expected term
 
 
4.7

 
0.5

Dividend yield
 
 
1.8
%
 
1.6
%