XML 36 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Option Activity Including Exerciseable and Future Grant Information [Table Text Block]
The following table summarizes activity in stock options for the nine months ended September 30, 2012:
 
Shares
 
Weighted-
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
 
Weighted-
Average
Remaining
Contract Life
Outstanding at beginning of period
3,202,229

 
$
18.95

 
 
 
 
 
Granted

 
$

 
 
 
 
 
Exercised
(757,497
)
 
$
13.60

 
 
 
 
 
Forfeited
(5,101
)
 
$
12.22

 
 
 
 
 
Expired
(265,443
)
 
$
25.71

 
 
 
 
 
Outstanding at end of period
2,174,188

 
$
20.01

 
$
9,429,630

(1) 
 
4.52 years
Exercisable at end of period
2,033,857

 
$
21.39

 
$
8,195,812

 
 
4.32 years
(1) At September 30, 2012, the exercise price of 1,108,946 outstanding stock options is greater than the closing price of PNMR common stock on that date; therefore, those options have no intrinsic value.

Schedule of Additional Stock Option Activity [Table Text Block]
The following table provides additional information concerning stock options:
 
 
Nine Months Ended September 30,
 
 
2012
 
2011
Weighted-average grant date fair value of options granted
 
$

 
$

Total fair value of options that vested (in thousands)
 
$
1,058

 
$
1,189

Total intrinsic value of options exercised (in thousands)
 
$
4,515

 
$
1,077

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes restricted stock activity, including performance-based and market-based shares, for the nine months ended September 30, 2012:
 
 
Shares
 
Weighted-
Average
Grant-Date
Fair Value
Nonvested at beginning of period
 
418,730

 
$
12.36

Granted
 
320,597

 
$
15.63

Vested
 
(375,402
)
 
$
12.67

Forfeited
 
(7,503
)
 
$
12.48

Nonvested at end of period
 
356,422

 
$
14.71

Schedule of Nonvested Share Activity Additional Information [Table Text Block]
The following table provides additional information concerning restricted stock, including performance-based and market-based shares:
 
 
Nine Months Ended
 
 
September 30,
 
 
2012
 
2011
Weighted-average grant date fair value of shares granted
 
$
15.63

 
$
13.10

Total fair value of shares that vested (in thousands)
 
$
4,755

 
$
1,084

Expected quarterly dividends per share
 
$
0.145

 
$
0.125

Risk-free interest rate
 
0.76
%
 
1.20
%