iTerm displays color #262626 incorrectly

iTerm 2.1.4 on El Capitan does not display the background color #262626 properly. This was observed when running terminal Vim using the Apprentice colorscheme which uses #262626 as the background color. Using all defaults for iTerm, and ensured TERM is set to xterm-256color.

The exact same Vim configuration run inside Terminal.app displays the correct color.

This is the complete .vimrc file:

" Using vim-plug
call plug#begin()
Plug 'romainl/Apprentice'
call plug#end()
colorscheme apprentice

This is what it looks like in Terminal.app:

This is what it looks like in iTerm:

I have confirmed using Photoshop that Terminal.app displays the color properly, iTerm does not.

com.googlecode.iterm2.plist