Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.0.8
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2014
Stock-Based Compensation  
Schedule of stock-based compensation expense

Our stock-based compensation expense is as follows for the six months ended June 30, 2014 (in thousands):

 

Profits interests awards (see note 1)

 

$

52,768

 

Restricted stock awards

 

8,596

 

Stock options

 

247

 

Total expense

 

$

61,611

 

 

Summary of restricted stock and restricted stock unit awards activity

A summary of restricted stock and restricted stock unit awards activity during the six months ended June 30, 2014 is as follows:

 

 

 

Number of
shares

 

Weighted
average
grant date
fair value

 

Aggregate
intrinsic value
(in thousands)

 

Total granted and unvested, December 31, 2013

 

45,093

 

$

54.27

 

$

2,861

 

Granted

 

1,923,448

 

$

65.00

 

126,236

 

Vested

 

 

 

 

Forfeited

 

(3,323

)

$

58.40

 

(218

)

Total awarded and unvested—June 30, 2014

 

1,965,218

 

$

64.82

 

$

128,977

 

 

Summary of stock option activity

A summary of stock option activity for the six months ended June 30, 2014 is as follows:

 

 

 

Stock
options

 

Weighted
average
exercise
price

 

Weighted
average
remaining
contractual
life

 

Intrinsic
value
(in thousands)

 

Outstanding at December 31, 2013

 

70,339

 

$

54.15

 

9.79

 

$

653

 

Options granted

 

 

 

 

 

Options exercised

 

 

 

 

 

Options cancelled

 

 

 

 

 

Options expired

 

 

 

 

 

Outstanding at June 30, 2014

 

70,339

 

$

54.15

 

9.29

 

$

807

 

Expected to vest as of June 30, 2014

 

70,339

 

$

54.15

 

9.29

 

$

807

 

Exercisable at June 30, 2014

 

 

 

 

 

 

Schedule of information regarding weighted average fair value of options granted and the assumptions used to determine fair value

The following table presents information regarding the weighted average fair value for options granted and the assumptions used to determine fair value.

 

Dividend yield

 

%

Volatility

 

35

%

Risk-free interest rate

 

1.48

%

Expected life (years)

 

6.17

 

Weighted average fair value of options granted

 

$

20.20