Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

v2.4.0.8
Share-Based Compensation
 6 Months Ended
Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation

(3) SHARE-BASED COMPENSATION

For stock-based awards the Company recognized compensation expense based on the grant date fair value. Share-based compensation expense was $1.6 million and $0.6 million for the three months ended June 30, 2014 and 2013, respectively. Share-based compensation expense was $2.9 million and $1.2 million for the six months ended June 30, 2014 and 2013, respectively.

A summary of the status and changes of our nonvested shares related to the Company’s Equity Incentive Plans as of and for the six months ended June 30, 2014 is presented below:

 

     Shares     Weighted Average
Grant-Date Fair
Value 		 

Nonvested at December 31, 2013

      276,166      $ 20.05   

Granted

      319,000        27.54   

Vested

      (7,500 )      18.75   

Cancelled

      (7,500 )      18.75   
  

 

 

    

Nonvested at June 30, 2014

      580,166        23.82   
  

 

 

    

As of June 30, 2014, there was $9.7 million of unrecognized compensation cost related to nonvested common shares. The cost is expected to be amortized over a weighted average period of 1.9 years.