Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

v2.4.0.6
Share-Based Compensation
 6 Months Ended
Jun. 30, 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 $3.2 million and $3.5 million for the three months ended June 30, 2012 and 2011, respectively. Share-based compensation expense was $6.7 million and $7.2 million for the six months ended June 30, 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

     (25,042 )      6.95              

Cancelled

     (208 )      6.95              
   

 

 

                      

Outstanding at June 30, 2012

     181,150       7.71     1.0 years   $ 2,293,725  
   

 

 

                      
         

Exercisable at June 30, 2012

     181,150       7.71     1.0 years   $ 2,293,725  
   

 

 

                      

A summary of the status and changes of our nonvested shares related to our Equity Incentive Plans as of and for the six months ended June 30, 2012 is presented below:

 

                 
    Shares     Weighted Average
Grant-Date Fair
Value 		 
     

Nonvested at December 31, 2011

     740,493     $ 19.02  

Granted

     0       0  

Vested

     (26,667 )      30.55  

Cancelled

     (33,000 )      27.60  
   

 

 

          

Nonvested at June 30, 2012

     680,826       18.15  
   

 

 

          

As of June 30, 2012, there was $4.2 million of unrecognized compensation cost related to nonvested common shares. The cost is expected to be amortized over a weighted average period of 0.3 years.