Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plan (Tables)

v2.4.0.8
Stock Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Options Activity
The following table summarizes the collective activity under the 2000 Plan and the 2010 Plan:
 
Number of Options
 
Weighted-Average Exercise Price
Outstanding at December 31, 2010
8,274,000

 
$
4.177

Granted(1)
257,500

 
12.520

Exercised
(2,790,188
)
 
2.305

Forfeited
(316,700
)
 
10.787

Outstanding at December 31, 2011
5,424,612

 
5.151

Granted(1)
706,644

 
11.782

Exercised
(1,306,145
)
 
2.651

Forfeited
(46,968
)
 
2.749

Outstanding at December 31, 2012
4,778,143

 
6.794

Granted(1)
598,360

 
9.101

Exercised
(682,619
)
 
3.037

Forfeited
(120,506
)
 
11.691

Outstanding at December 31, 2013
4,573,378

 
$
7.528

Options exercisable at December 31, 2013
3,067,015

 
$
6.074

Expected to vest at December 31, 2013
1,492,239

 
$
10.489

Options exercisable at December 31, 2012
3,309,722

 
$
4.986

 
(1) Grants are related to the 2010 Plan.
Schedule of Stock Options by Plans by Exercise Price Range
The weighted-average remaining contractual life of options expected to vest at December 31, 2013 was 8.36. The total intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011 was $4,224,406, $12,829,917, and $31,757,430, respectively.
The following table summarizes information about stock options outstanding at December 31, 2013: 
 
 
 
Outstanding Options
 
Exercisable Options
Related Plan
Exercise Price
 
Number Outstanding
 
Weighted-Average Remaining Term
 
Weighted-Average Exercise Price
 
Number Exercisable
 
Weighted-Average Exercise Price
2000 Plan
$
2.750

 
324,231

 
0.49
 
$
2.750

 
324,231

 
$
2.750

2000 Plan
3.000

 
13,600

 
1.07
 
3.000

 
13,600

 
3.000

2000 Plan
3.250

 
580,044

 
2.19
 
3.250

 
580,044

 
3.250

2000 Plan
3.410

 
442,462

 
3.05
 
3.410

 
442,462

 
3.410

2000 Plan
4.220

 
210,050

 
3.66
 
4.220

 
210,050

 
4.220

2000 Plan
6.055

 
966,400

 
5.50
 
6.055

 
839,100

 
6.055

2010 Plan
7.150

 
30,000

 
9.31
 
7.150

 

 
7.150

2010 Plan
8.390

 
50,000

 
9.41
 
8.390

 

 
8.390

2010 Plan
8.480

 
100,000

 
9.69
 
8.480

 

 
8.480

2010 Plan
8.860

 
24,360

 
9.44
 
8.860

 

 
8.860

2010 Plan
9.450

 
374,000

 
9.56
 
9.450

 

 
9.450

2010 Plan
10.690

 
20,000

 
9.81
 
10.690

 

 
10.690

2010 Plan
10.750

 
50,000

 
8.41
 
10.750

 
10,000

 
10.750

2010 Plan
10.950

 
140,000

 
7.71
 
10.950

 
72,000

 
10.950

2010 Plan
11.630

 
155,093

 
8.46
 
11.630

 
36,028

 
11.630

2010 Plan
11.980

 
446,450

 
8.32
 
11.980

 
89,930

 
11.980

2000 Plan
13.045
 
558,000

 
6.32
 
13.045

 
414,100

 
13.045

2010 Plan
14.810
 
60,000

 
7.40
 
14.810

 
24,000

 
14.810

2010 Plan
16.290
 
28,688

 
7.07
 
16.290

 
11,470

 
16.290

 
 
 
4,573,378

 
 
 
 

 
3,067,015

 
 

Schedule of Stock Options Valuation Assumptions
The following table sets forth the significant assumptions used in the model during 2013, 2012 and 2011:
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Expected dividend yield
—%
 
—%
 
—%
Risk-free interest rate
1.03%-2.18%
 
0.82%-1.25%
 
1.35%-2.58%
Expected volatility
34%-52%
 
32%
 
32%-33%
Expected life
6.0-6.5 years
 
6.5 years
 
6.0-6.5 years