Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

v2.4.0.6
Share-Based Compensation
 3 Months Ended
Mar. 31, 2012
Share-Based Compensation [Abstract]  
SHARE-BASED COMPENSATION

(4) SHARE-BASED COMPENSATION

For stock-based awards we have recognized compensation expense based on the grant date fair value. Share-based compensation expense was $3.5 million and $3.7 million for the three months ended March 31, 2012 and 2011, respectively.

Stock options granted pursuant to the 1998 Stock Option, Deferred Stock and Restricted Stock Plan and the 2007 Incentive Award Plan (the “Equity Incentive Plans”) were as follows:

 

                             
            Shares            

      Weighted      

Average

Exercise Price

    

Weighted Average

Remaining

Contractual Term

  

Aggregate

Intrinsic

   Value   

  
         

Outstanding at December 31, 2011

     206,400     $ 7.62              

Granted

     0       0              

Exercised

     (1,013 )      6.95              

Cancelled

     (208 )      6.95              
   

 

 

                      

Outstanding at March 31, 2012

     205,179       7.62     1.0 years   $     1,047,655  
   

 

 

                      
         

Exercisable at March 31, 2012

     205,179       7.62     1.0 years   $ 1,047,655  
   

 

 

                      

A summary of the status and changes of our nonvested shares related to our Equity Incentive Plans as of and for the three months ended March 31, 2012 is presented below:

 

                 
          Shares           Weighted Average
Grant-Date Fair
Value 		   

 

Nonvested at December 31, 2011

     740,493     $    19.02  

Granted

     0                  0  

Vested

     (25,834 )          30.28  

Cancelled

     0                  0  
   

 

 

        

Nonvested at March 31, 2012

     714,659           18.61  
   

 

 

        

As of March 31, 2012, there was $8.0 million of unrecognized compensation cost related to nonvested common shares. The cost is expected to be amortized over a weighted average period of 0.6 years.