Share-Based Compensation and Cash-Based Incentive Compensation (Tables)
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3 Months Ended |
Mar. 31, 2015 |
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
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| Schedule of Outstanding Restricted Stock Shares Issued to Non-employee Directors |
Subject to the satisfaction of service conditions, the outstanding Restricted Shares issued to the non-employee directors as of March 31, 2015 are expected to vest as follows:
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Restricted Shares
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2015
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21,520
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2016
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15,420
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2017
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6,270
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Total
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43,210
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| Summary of Share Activity Related to Restricted Stock Units |
A summary of activity in 2015 related to RSUs is as follows:
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Restricted Stock Units
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Weighted Average
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Grant Date Fair
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Units
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Value Per Unit
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Nonvested, December 31, 2014
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1,977,335
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$
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15.29
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Forfeited
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(49,541
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)
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15.20
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Nonvested, March 31, 2015
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1,927,794
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$
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15.29
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| Schedule of Restricted Stock Units Outstanding |
All of the outstanding RSUs are subject to the satisfaction of service conditions and a portion of the outstanding RSUs are also subject to pre-defined performance measurements. The RSUs outstanding as of March 31, 2015 potentially eligible to vest are listed in the table below:
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Restricted Stock Units
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2015 - subject to service requirements
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739,620
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2015 - subject to service and other requirements (1)
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87,701
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2016 - subject to service requirements
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1,100,473
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Total
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1,927,794
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(1)
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In addition to service requirements, these RSUs are also subject to TSR performance requirements not yet measureable, with awards ranging from 0% to 200% of amounts granted.
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| Summary of Incentive Compensation Expense under Share-Based Payment Arrangements and Related Tax Benefit |
A summary of incentive compensation expense under share-based payment arrangements and the related tax benefit is as follows (in thousands):
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Three Months Ended
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March 31,
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2015
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2014
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Share-based compensation expense from:
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Restricted stock
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$
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93
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$
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99
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Restricted stock units
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2,817
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2,537
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Common shares
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(94
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)
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1,122
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Total
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$
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2,816
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$
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3,758
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Share-based compensation tax benefit:
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Tax benefit computed at the statutory rate
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$
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986
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$
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1,315
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| Summary of Incentive Compensation Expense |
A summary of incentive compensation expense is as follows (in thousands):
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Three Months Ended
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March 31,
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2015
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2014
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Share-based compensation included in:
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General and administrative
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$
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2,816
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$
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3,758
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Cash-based incentive compensation included in:
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Lease operating expense
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361
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1,302
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General and administrative (1)
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(233
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)
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1,781
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Total charged to operating income
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$
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2,944
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$
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6,841
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(1)
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Adjustments to true up estimates to actual payments resulted in net credit balances to expense for the three months ended March 31, 2015.
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