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STOCK-BASED COMPENSATION PLANS
 12 Months Ended
Dec. 31, 2014
STOCK-BASED COMPENSATION PLANS [Abstract]  
STOCK-BASED COMPENSATION PLANS
Note 12, Stock-Based Compensation Plans:

We have issued options and awards for Common Stock under three stock-based employee compensation plans, the 2014 Long Term Incentive Plan (the "2014 LTIP Plan"), the 2004 Long Term Incentive Plan (the "2004 LTIP Plan") and the 1998 Stock Option Plan (the "1998 Plan"). No new awards may be granted under the 1998 Plan and as of December 31, 2014 all previously granted awards have been exercised, forfeited, or expired. No new awards may be granted under the 2004 LTIP Plan.  As of December 31, 2014, 1,187,941 shares were available for awards and options under the 2014 LTIP Plan.

The following table summarizes our equity award activity during the years ended December 31, 2014, 2013 and 2012:

  
Restricted Stock Award
  
Stock-Settled
Appreciation Rights
  
Options
 
 
 
Shares or Units
  
Weighted-Average
Award Price
  
Rights
  
Weighted-Average
Award Price
  
Shares
  
Weighted-Average
Exercise Price
 
Outstanding at January 1, 2011
  
432,025
  
$
12.13
   
144,049
  
$
8.87
   
292,100
  
$
14.20
 
Granted
  
252,700
   
12.34
   
—
   
—
   
—
   
—
 
Exercised or restrictions lapsed(1)
  
(127,050
)
  
11.87
   
(22,300
)
  
8.94
   
(236,100
)
  
12.89
 
Forfeited or expired
  
(1,750
)
  
12.34
   
—
   
—
   
(6,000
)
  
12.84
 
Outstanding at December 31, 2012
  
555,925
   
12.28
   
121,749
   
8.85
   
50,000
   
20.56
 
Granted
  
162,150
   
18.15
   
112,000
   
18.14
   
—
   
—
 
Exercised or restrictions lapsed(1)
  
(277,975
)
  
12.24
   
(84,049
)
  
8.90
   
(48,000
)
  
20.75
 
Forfeited or expired
  
(3,100
)
  
15.00
   
—
   
—
   
(2,000
)
  
15.90
 
Outstanding at December 31, 2013
  
437,000
   
14.46
   
149,700
   
15.78
   
—
   
—
 
Granted
  
146,748
   
28.72
   
—
   
—
         
Exercised or restrictions lapsed(1)
  
(235,925
)
  
14.01
   
(13,725
)
  
12.30
         
Forfeited or expired
  
(26,501
)
  
24.28
   
(6,000
)
  
18.14
         
Outstanding at December 31, 2014
  
321,322
  
$
20.49
   
129,975
  
$
16.04
   
—
   
—
 
Exercisable at December 31, 2014
          
51,975
  
$
12.88
   
—
   
—
 
Restricted units expected to vest
  
321,322
  
$
20.49
                 
Exercisable at December 31, 2013
          
37,700
  
$
8.76
   
—
   
—
 
Exercisable at December 31, 2012
          
96,224
  
$
8.89
   
50,000
  
$
20.56
 
(1) The total intrinsic value of options and stock-settled appreciation rights exercised was approximately $184,000, $1,312,000 and $760,000 in 2014, 2013 and 2012, respectively.

The fair value for stock-settled appreciation rights are estimated at the date of grant using a Black‑Scholes pricing model.  The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at December 31, 2014 was approximately $475,000 and $777,000, respectively.

The total fair value of restricted common stock shares that vested in 2014, 2013 and 2012 was approximately $5,985,000, $6,308,000 and $1,528,000, respectively.  The aggregate intrinsic value of outstanding restricted stock awards was $7,290,000 at December 31, 2014.

Grants of restricted common stock, restricted units, performance units and stock-settled appreciation rights have been made to certain officers and key employees under the 2004 and the 2014 LTIP Plan. The restrictions on the restricted units generally lapse or vest annually, primarily over four year periods.  The performance units are based on one-year performance periods but cliff vest in three years from grant date.  The compensation for all awards is being charged to selling, general and administrative expense over the respective grants' vesting periods, primarily on a straight-line basis, and was approximately $3,319,000, $3,323,000 and $2,553,000 in 2014, 2013 and 2012, respectively. As of December 31, 2014, the total compensation cost related to unvested equity awards was approximately $4,536,000 and is expected to be recognized over a weighted-average period of 2.2 years.