Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.8
SHARE BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share Based Compensation Plans
Transactions in connection with the Company’s share-based compensation plans during the nine months ended September 30, 2014 were as follows:
Director stock awards granted
14,364

Restricted stock awards granted
112,686

Restricted stock awards canceled
8,650

Stock option activities:
 
Outstanding as of December 31, 2013
328,040

Granted
45,000

Exercised
(15,892
)
Forfeited

Expired
(15,000
)
Outstanding as of September 30, 2014
342,148

Shares available under the 2012 Incentive Plan as of September 30, 2014
3,216,598

Shares available under the 2013 ESPP as of September 30, 2014
246,914

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 nine months ended September 30, 2014:
Risk free interest rate
 
1.75
%
Expected life (years)
 
5

Volatility
 
39.62
%
Dividend yield
 
%
Weighted average exercise price of options granted
 
$29.24 per option

Weighted average grant-date fair value of options granted
 
$10.86 per option