Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v3.5.0.2
Stock-Based Awards (Tables)
 9 Months Ended
Sep. 30, 2016
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,
2016
 
2015
2016
 
2015
Selling and marketing
$
1,369

 
$
1,472

 
$
4,880

 
$
4,624

General and administrative
2,870

 
2,917

 
9,818

 
9,190

Stock-based compensation expense before income taxes
4,239

 
4,389

 
14,698

 
13,814

Income tax benefit
(1,493
)
 
(1,539
)
 
(5,134
)
 
(4,897
)
Stock-based compensation expense after income taxes
$
2,746

 
$
2,850

 
$
9,564

 
$
8,917

 
 
 
 
 
 
 
 
Summary of Stock-Based Awards Granted
A summary of the stock-based awards granted during the nine months ended September 30, 2016 is as follows:
 
Nine Months Ended September 30, 2016
 
Number of Awards Granted

Weighted Average per Share Fair Value
Stock appreciation rights
928,990

 
$7.31
Restricted stock units
264,774

 
$45.52
Performance share units
92,290

 
$54.06
Employee stock purchase plan options
61,091

 
$11.70
Dividend equivalents due to quarterly dividend
19,438

 
-
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, 2016 are as follows: 
 
 
Nine Months Ended September 30, 2016
 
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
 
Performance Share Units
Volatility factor
 
26.3
%
 
32.3
%
 
25.2
%
Risk-free interest rate
 
1.23
%
 
0.43
%
 
0.89
%
Expected term
 
4.5

 
0.5

 
2.9

Dividend yield
 
3.1
%
 
2.8
%
 
0.0
%