Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v2.4.0.8
Stock-Based Awards (Tables)
 9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
2014
 
2013
2014
 
2013
Selling and marketing
$
1,135

 
$
818

 
$
3,424

 
$
2,674

General and administrative
2,746

 
2,206

 
8,267

 
7,605

Stock-based compensation expense before income taxes
3,881

 
3,024

 
11,691

 
10,279

Income tax benefit
(1,401
)
 
(1,108
)
 
(4,224
)
 
(3,697
)
Stock-based compensation expense after income taxes
$
2,480

 
$
1,916

 
$
7,467

 
$
6,582

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

Weighted Average per Share Fair Value
Stock appreciation rights
423,579


$15.24
Restricted stock units
234,039


$55.14
Employee stock purchase plan options
43,646


$12.67
Weighted Average Assumptions Used In Black-Scholes Option Pricing Model
The weighted average assumptions used in the valuation of each for the nine months ended September 30, 2014 are as follows: 
 
 
Nine Months Ended September 30, 2014
 
 
Black-Scholes
 
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
Volatility factor
 
36.4
%
 
22.0
%
Risk-free interest rate
 
1.55
%
 
0.07
%
Expected term
 
4.7

 
0.5

Dividend yield
 
1.8
%
 
1.7
%