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Stock Based Compensation Plans
 3 Months Ended
Mar. 31, 2013
Stock Based Compensation Plans [Abstract]  
Stock Based Compensation Plans
NOTE I – Stock Based Compensation Plans:
 
As more fully discussed in Note 11 of the notes to the consolidated financial statements in our 2012 Annual Report on Form 10-K, we have options and awards outstanding for Common Stock under two stock-based employee compensation plans.
 
The following table summarizes our share option and award activity during the three months ended March, 2013:
 
   
Restricted Stock Awards
  
Stock-Settled
Appreciation Rights
  
Options
 
   
Shares or Units
  
Weighted-Average
Award Price
  
 
Rights
  
Weighted-Average
Award Price
  
Shares
  
Weighted-Average
Exercise Price
 
Outstanding at December 31, 2012
  555,925  $12.28   121,749  $8.85   50,000  $20.56 
Granted
  161,150   18.13   112,000   18.14   -   - 
Exercised or restrictions lapsed
  -   -   (38,150)  8.86   (2,000)  15.90 
Forfeited or expired (options)
  (1,150)  13.35   -   -   -   - 
Outstanding at March 31, 2013
  715,925  $13.59   195,599  $14.17   48,000  $20.75 
Exercisable at March 31, 2013
  -   -   58,074  $8.90   48,000  $20.75 

Grants of restricted common stock and stock-settled appreciation rights are made to certain officers and key employees under the 2004 LTIP Plan. The restrictions on the awards generally lapse annually, primarily over four year periods. The compensation is being charged to selling, general and administrative expense over the respective grants' vesting periods, primarily on a straight-line basis.  Stock based compensation expense for the three months ended March 31 was approximately $0.8 million in 2013 and $0.7 million in 2012. The aggregate intrinsic value of outstanding restricted common stock grants was $14.7 million at March 31, 2013. The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at March 31, 2013 was approximately $0.7 million and $1.3 million, respectively.
 
As of March 31, 2013, the remaining unamortized compensation cost related to unvested equity awards was approximately $6.9 million and scheduled to be recognized over a weighted-average period of 2.9 years.
 
The accelerated vesting goals for 128,800 of the restricted stock units in the above table were met in April. This will result in a net increase of 86,015 shares outstanding and a $0.5 million increase in the expense for the quarter ended June 30, 2013.