STOCKHOLDERS' EQUITY (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Equity [Abstract] |
|
| Summary of Stock Option Activity |
A summary of the Company’s stock option and SARs activities
and related information for the year ended December 31, 2016,
is as follows:
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Number of
options and
SAR units |
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|
Weighted
average
exercise
price |
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|
Weighted
average
remaining
contractual
term |
|
|
Aggregate
intrinsic-
value |
|
|
Outstanding at the beginning of the year
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|
2,406,455 |
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|
$ |
18.15 |
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Granted (1)
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104,000 |
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|
28.42 |
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Exercised
|
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|
(1,012,151 |
) |
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|
16.89 |
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Forfeited or expired
|
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(42,396 |
) |
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17.93 |
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Outstanding at the end of the year (2)
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1,455,908 |
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|
$ |
19.76 |
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|
4.7 |
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|
$ |
20,077 |
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Vested or expected to vest at the end of the year
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1,422,492 |
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$ |
19.78 |
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4.7 |
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$ |
19,587 |
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Exercisable at the end of the year (3)
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972,229 |
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|
$ |
19.88 |
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|
3.9 |
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$ |
13,286 |
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(1) |
In 2016, the Company granted 104,000
stock options only to non-employee directors of the Company.
No SARs were granted during 2016. |
| |
(2) |
Due to the ceiling imposed on the SAR
grants, the outstanding amount equals a maximum of 1,305,719 shares
of the Company’s common stock issuable upon exercise. |
| |
(3) |
Due to the ceiling imposed on the SAR
grants, the exercisable amount equals a maximum of 882,273 shares
of the Company’s common stock issuable upon exercise. |
|
| Schedule of Options Granted, Classified into Range of Exercise Price |
The options and SARs granted to employees of the Company and its
subsidiaries and the options granted to non-employee directors of
the Company which were outstanding as of December 31, 2016
have been classified into a range of exercise prices as
follows:
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Outstanding |
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Exercisable |
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|
Exercise price
(range)
|
|
Number
of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Weighted
average
exercise
price |
|
|
Number
of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Weighted
average
exercise
price |
|
|
12.60-15.54
|
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|
396,969 |
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|
4.7 |
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$ |
14.63 |
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237,614 |
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|
4.1 |
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$ |
14.59 |
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16.08-18.62
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381,257 |
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4.1 |
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$ |
16.72 |
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|
292,617 |
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4.1 |
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$ |
16.73 |
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19.36-24.86
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|
438,579 |
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4.4 |
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$ |
21.65 |
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|
306,895 |
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3.4 |
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$ |
22.26 |
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|
27.01-32.34
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239,103 |
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6.4 |
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$ |
29.67 |
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135,103 |
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3.9 |
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$ |
30.62 |
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1,455,908 |
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|
4.7 |
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$ |
19.76 |
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|
972,229 |
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|
3.9 |
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$ |
19.88 |
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| Summary of Restricted Stock Units Activity |
A summary of the Company’s RSU activities and related
information for the year ended December 31, 2016, is as
follows:
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Number of
RSUs |
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Weighted average
Grant-Date
fair value |
|
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Unvested as at the beginning of the year
|
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|
234,000 |
|
|
$ |
19.89 |
|
|
Granted
|
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|
394,417 |
|
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|
22.05 |
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Vested
|
|
|
(99,972 |
) |
|
|
19.73 |
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Forfeited
|
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|
(23,303 |
) |
|
|
20.16 |
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Unvested at the end of the year
|
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|
505,142 |
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$ |
21.59 |
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Expected to vest at the end of the year
|
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|
463,757 |
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|
$ |
21.58 |
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