Quarterly report pursuant to Section 13 or 15(d)

Stock Compensation

v3.2.0.727
Stock Compensation
6 Months Ended
Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Compensation

(6)

STOCK COMPENSATION

For stock-based awards the Company recognized compensation expense based on the grant date fair value. Share-based compensation expense was $4.5 million and $1.6 million for the three months ended June 30, 2015 and 2014, respectively. Share-based compensation expense was $8.9 million and $2.9 million for the six months ended June 30, 2015 and 2014, respectively.

A summary of the status and changes of our nonvested shares related to the Company’s Equity Incentive Plans as of and for the six months ended June 30, 2015 is presented below:

 

 

 

Shares

 

 

Weighted Average

Grant-Date Fair Value

 

Nonvested at December 31, 2014

 

 

1,263,833

 

 

$

43.38

 

Granted

 

 

7,500

 

 

 

68.01

 

Vested

 

 

(153,500

)

 

 

29.02

 

Cancelled

 

 

 

 

 

 

Nonvested at June 30, 2015

 

 

1,117,833

 

 

$

45.52

 

 

As of June 30, 2015, there was $40.9 million of unrecognized compensation cost related to nonvested common shares. The cost is expected to be amortized over a weighted average period of 2.3 years.