Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION SHARE BASED COMPENSATION (Tables)

v3.2.0.727
SHARE BASED COMPENSATION SHARE BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share Based Compensation Plans
The number of shares and weighted average grant price of restricted stock awards during the six months ended June 30, 2015 were as follows:
 
Number of Shares
 
Weighted Average Grant Price
Non-vested as of December 31, 2014
195,920

 
$
25.48

Restricted stock awards granted:
 
 
 
Non-employee directors
16,938

 
$
21.26

Employees
161,750

 
$
21.26

Vested
(66,227
)
 
$
25.51

Forfeited
(600
)
 
$
23.66

Non-vested as of June 30, 2015
307,781

 
$
23.02

Schedule of Stock Options Valuation Assumptions
The following table shows the assumptions used to compute the share-based compensation expense for stock options granted during the six months ended June 30, 2015:
Risk free interest rate
 
1.47
%
Expected life (years)
 
5

Volatility
 
35.11
%
Dividend yield
 
—
%
Weighted average exercise price of options granted (per option)
 
$
21.26

Weighted average grant-date fair value of options granted (per option)
 
$
7.04