Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Impact of Stock-Based Compensation in Consolidated and Combined Statements of Income
Prior to September 27, 2014, our employees participated in equity incentive plans maintained by Exelis. Stock-based compensation amounts awarded under the Exelis plans have historically been immaterial, as such, amounts presented in the following tables include equity and liability awards issued under the Vectrus equity incentive plan after September 27, 2014.
(In thousands)

 
Compensation costs for equity-based awards

$
2,095

Compensation costs for liability-based awards

229

Total compensation costs, pre-tax

$
2,324

Future tax benefit

$
827
Schedule of Non-Qualified Stock Options, Activity
The table below provides a roll-forward of outstanding NQOs subsequent to the Spin-off:


September 27, 2014 through


December 31, 2014
(In thousands, except per share data)

Shares
 
Weighted Average Exercise Price Per Share
Outstanding at Spin-off

—

 
$
—

Conversion related to the Spin-off ¹

275

 
14.83

Post Spin-off activities

 
 
 
Granted

171

 
20.62

Exercised

—

 
—

Forfeited, canceled or expired

—

 
—

Outstanding at December 31,

446

 
$
17.43

Options exercisable at December 31, 2014

47

 
$
13.12






¹ The weighted average grant date fair value of the stock options converted is equal to the weighted average grant date fair value of such stock options prior to the Spin-off, reduced by the Spin-off conversion adjustment.
Schedule of Non-Qualified Stock Options Outstanding and Exercisable
The following table summarizes information about NQOs outstanding and exercisable as of December 31, 2014:
(in thousands, except per share data)
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices Per Share
 
Number
 
Weighted Average Remaining Contractual Life (In Years)
 
Weighted Average Exercise Price Per Share
 
Aggregate Intrinsic Value
 
Number
 
Weighted Average Remaining Contractual Life (In Years)
 
Weighted Average Exercise Price Per Share
 
Aggregate Intrinsic Value
$12.94 - $20.62
 
391

 
8.63
 
$
16.42

 
$
4,289

 
47

 
6.97

 
$
13.12

 
$
817

$22.15 - $24.61
 
55

 
9.19
 
24.52

 
160

 
—

 
—

 
—

 
—

Total options and aggregate intrinsic value
 
446

 
8.67
 
$
17.43

 
$
4,449

 
47

 
6.97

 
$
13.12

 
$
817
Schedule of Weighted Average Assumptions
The following assumptions were utilized in deriving the fair value for NQOs granted on October 10, 2014 under the Black-Scholes model:
Expected volatility

34.6
%
Expected life (in years)

7.0

Risk-free rates

2.07
%
Weighted-average grant date fair value per share

$
8.24
Schedule of Restricted Stock Units, Activity
The table below provides a roll-forward of outstanding RSUs subsequent to the Spin-off.


September 27, 2014 through


December 31, 2014
(In thousands, except per share data)

Shares
 
Weighted Average Grant Date Fair Value Per Share
Outstanding at Spin-off

—

 
—

Conversion related to the Spin-off

240

 
$
17.61

Post Spin-off activities

 
 
 
Granted

203

 
20.62

Vested

(20
)
 
13.03

Forfeited or canceled

—

 
—

Outstanding at December 31,

423

 
$
19.28