Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.8.0.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the years ended December 31 follows:

 

 

 

2017

 

 

2016

 

 

2015

 

 

 

Options

 

 

Weighted

average

exercise

price

 

 

Options

 

 

Weighted

average

exercise

price

 

 

Options

 

 

Weighted

average

exercise

price

 

Outstanding at beginning of year:

 

 

95,706

 

 

$

52.08

 

 

 

95,706

 

 

$

52.08

 

 

 

115,606

 

 

$

48.54

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,000

 

 

 

91.58

 

Exercised

 

 

(1,100

)

 

 

39.00

 

 

 

 

 

 

 

 

 

(30,900

)

 

 

52.87

 

Adjusted / (forfeited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of year

 

 

94,606

 

 

$

52.24

 

 

 

95,706

 

 

$

52.08

 

 

 

95,706

 

 

$

52.08

 

Exercisable at end of year

 

 

93,106

 

 

$

51.85

 

 

 

92,706

 

 

$

51.31

 

 

 

63,815

 

 

$

48.73

 

 

Stock Options Outstanding

A summary of the Company’s stock options outstanding at December 31, 2017 follows:

 

 

 

Outstanding

 

 

Exercisable

 

Exercise Price Range

 

Options

 

 

Weighted

average

exercise

price

 

 

Options

 

 

Weighted

average

exercise

price

 

$30.00 – 39.99

 

 

500

 

 

$

35.73

 

 

 

500

 

 

$

35.73

 

$40.00 – 69.99

 

 

76,606

 

 

$

44.68

 

 

 

76,606

 

 

$

44.68

 

$70.00 – 91.58

 

 

17,500

 

 

$

85.78

 

 

 

16,000

 

 

$

86.71

 

Total

 

 

94,606

 

 

$

52.24

 

 

 

93,106

 

 

$

51.85

 

Intrinsic value of outstanding stock options at December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

$

3,512,314

 

Intrinsic value of exercisable stock options at December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

$

3,492,589

 

 

Status of Unvested Shares of Stock Issued to Employees and Directors

A summary of the status of unvested shares of stock issued to employees and directors as of and during the years ended December 31 follows:

 

 

 

2017

 

 

2016

 

 

2015

 

 

 

Non-vested

Shares

 

 

Weighted

average

grant date

fair value

 

 

Non-vested

Shares

 

 

Weighted

average

grant date

fair value

 

 

Non-vested

Shares

 

 

Weighted

average

grant date

fair value

 

Unvested at beginning of year:

 

 

258,163

 

 

$

58.89

 

 

 

305,520

 

 

$

59.09

 

 

 

310,463

 

 

$

51.93

 

Granted

 

 

51,276

 

 

 

85.17

 

 

 

23,405

 

 

 

89.30

 

 

 

64,665

 

 

 

94.74

 

Vested

 

 

(96,615

)

 

 

58.95

 

 

 

(70,762

)

 

 

69.82

 

 

 

(69,187

)

 

 

60.28

 

Forfeited

 

 

(42,015

)

 

 

38.53

 

 

 

 

 

 

 

 

 

(421

)

 

 

76.07

 

Unvested at end of year

 

 

170,809

 

 

$

71.75

 

 

 

258,163

 

 

$

58.89

 

 

 

305,520

 

 

$

59.09