Rendering

Component: (Network and Table)
Network
2313301 - Disclosure - Stock Option and Purchase Plans (Tables)
(http://www.astronics.com/role/StockOptionAndPurchasePlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000008063 (http://www.sec.gov/CIK)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
 
Summary of Weighted Average Fair Value of Options Granted
Stock compensation expense recognized during the period is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. Vesting requirements vary for directors, officers and key employees. In general, options granted to outside directors vest six months from the date of grant and options granted to officers and key employees straight line vest over a five-year period from the date of grant.
 
2016
 
2015
 
2014
Weighted Average Fair Value of the Options Granted
$
16.85

 
$
18.00

 
$
19.35

  
Summary of Weighted-Average Assumptions
The weighted average fair value for these options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
 
2016
 
2015
 
2014
Risk-free Interest Rate
1.08% – 2.34%
 
1.36% – 2.10%
 
0.12% – 2.30%
Dividend Yield
—%
 
—%
 
—%
Volatility Factor
0.40 – 0.45
 
0.40 – 0.51
 
0.42 – 0.52
Expected Life in Years
4.0 – 8.0
 
4.0 – 8.0
 
4.0 – 8.0
  
Compensation Expense Information Based on Fair Value of Stock Options
The following table provides compensation expense information based on the fair value of stock options for the years ended December 31, 2016, 2015 and 2014:
(In thousands)
2016
 
2015
 
2014
Stock Compensation Expense
$
2,281

 
$
2,274

 
$
1,730

Tax Benefit
(145
)
 
(177
)
 
(122
)
Stock Compensation Expense, Net of Tax
$
2,136

 
$
2,097

 
$
1,608

  
Summary of Company's Stock Option Activity and Related Information
A summary of the Company’s stock option activity and related information for the years ended December 31 is as follows:
 
2016
 
2015
 
2014
(Aggregate intrinsic value in
thousands)
Options
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
 
Options
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
 
Options
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
Outstanding at January 1
1,444,954

 
$
12.61

 
$
30,675

 
1,686,178

 
$
9.43

 
$
43,778

 
2,237,325

 
$
6.58

 
$
78,846

Options Granted
104,900

 
$
34.29

 
$
(48
)
 
105,742

 
$
35.80

 
$
(42
)
 
97,641

 
$
36.63

 
$
506

Options Exercised
(188,768
)
 
$
7.20

 
$
(5,029
)
 
(346,966
)
 
$
4.25

 
$
(10,808
)
 
(644,058
)
 
$
3.63

 
$
(24,599
)
Options Forfeited
(22,813
)
 
$
25.96

 
$
(180
)
 
—

 
$
—

 
$
—

 
(4,730
)
 
$
11.44

 
$
(144
)
Outstanding at December 31
1,338,273

 
$
14.85

 
$
25,418

 
1,444,954

 
$
12.61

 
$
32,928

 
1,686,178

 
$
9.43

 
$
54,609

Exercisable at December 31
1,091,561

 
$
11.03

 
$
24,898

 
1,167,040

 
$
9.20

 
$
30,576

 
1,371,614

 
$
6.58

 
$
48,331

  
Summary of Weighted Average Exercise Prices and Contractual Lives for Outstanding and Exercisable Stock Options
The following is a summary of weighted average exercise prices and contractual lives for outstanding and exercisable stock options as of December 31, 2016:
 
Outstanding
 
Exercisable
Exercise Price Range
Shares
 
Weighted Average
Remaining Life
in Years
 
Weighted 
Average
Exercise Price
 
Shares
 
Weighted Average
Remaining Life
in Years
 
Weighted
Average
Exercise Price
$   3.04 - $  4.45
471,841

 
2.5
 
$
3.29

 
471,841

 
2.5
 
$
3.29

$   5.77 - $  6.35
45,166

 
0.5
 
6.01

 
45,166

 
0.5
 
6.01

$ 8.83 - $15.68
459,138

 
4.6
 
11.73

 
431,370

 
4.5
 
11.81

$ 26.09 - $41.19
342,288

 
8.5
 
33.93

 
123,344

 
7.9
 
33.05

$ 52.77 - $52.77
19,840

 
8.2
 
52.77

 
19,840

 
8.2
 
52.77

 
1,338,273

 
4.8
 
14.85

 
1,091,561

 
3.9
 
11.03

  
Fair Value for Options Granted under Employee Stock Purchase Plan
The fair value for the options granted under the Employee Stock Purchase Plan was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
 
2016
 
2015
 
2014
Risk-free Interest Rate
0.63
%
 
 
0.31
%
 
 
0.10
%
 
Dividend Yield
—
%
 
 
—
%
 
 
—
%
 
Volatility Factor
0.45
 
 
0.40
 
 
0.42
 
Expected Life in Years
1.0

 
 
1.0

 
 
1.0