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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of recognized stock-based compensation expense | The following table summarizes share-based compensation expense recognized:
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Stock options |  | $ | (83 | ) |  | $ | 619 |  |  | $ | 827 |
Restricted stock units |  |  | 6,693 |  |  |  | 1,849 |  |  |  | 869 |
Phantom stock units |  |  | 222 |  |  |  | 175 |  |  |  | 74 |
Total |  | $ | 6,832 |  |  | $ | 2,643 |  |  | $ | 1,770 |
Schedule of unrecognized compensation cost, nonvested awards | The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at December 31, 2011 (amortization periods in years):
|  | Unrecognized Compensation Cost |  |  |  |
|  | Weighted Average Remaining Amortization Periods |
Stock options |  | $ | 92 |  |  |  | 1.1 |
Restricted stock units |  |  | 4,313 |  |  |  | 1.5 |
Phantom stock units |  |  | - |  |  |  | 0.0 |
Total |  | $ | 4,405 |  |  |  |  |
Schedule of share based compensation, stock options, activity | The following table summarizes the Company’s stock option activity (number of options in thousands):
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  |  |  |  | Weighted Average Exercise Price |  |  |  |  |  | Weighted Average Exercise Price |  |  |  |  |  | Weighted Average Exercise Price |
|  | Number of Options |  |  | Number of Options |  |  | Number of Options |
Outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 1,254 |  |  | $ | 15.04 |  |  |  | 2,728 |  |  | $ | 19.84 |  |  |  | 3,904 |  |  | $ | 18.55 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | (651 | ) |  |  | 14.87 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cancelled or forfeited |  |  | (219 | ) |  |  | 14.92 |  |  |  | (1,733 | ) |  |  | 20.35 |  |  |  | (1,176 | ) |  |  | 15.55 |
Adjustment due to VPG spin-off* |  |  | - |  |  |  | - |  |  |  | 259 |  |  |  | - |  |  |  | - |  |  |  | - |
End of year* |  |  | 384 |  |  | $ | 15.40 |  |  |  | 1,254 |  |  | $ | 15.04 |  |  |  | 2,728 |  |  | $ | 19.84 |
Vested and expected to vest* |  |  | 384 |  |  |  |  |  |  |  | 1,254 |  |  |  |  |  |  |  | 2,728 |  |  |  |  |
Exercisable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
End of year* |  |  | 323 |  |  |  |  |  |  |  | 1,001 |  |  |  |  |  |  |  | 2,400 |  |  |  |  |
* The weighted average exercise price of the stock options included in the line item “Adjustment due to VPG spin-off” is equal to the weighted average exercise price of such stock options prior to the spin-off, as reduced by the spin-off adjustment. The weighted average exercise price of stock options outstanding, vested and expected to vest, and exercisable as of December 31, 2010 also reflects the decrease in the exercise price as a result of the spin-off adjustment.
Stock options outstanding and exercisable summarized by ranges of exercise prices | The following table summarizes information concerning stock options outstanding and exercisable at December 31, 2011 (number of options in thousands, contractual life in years):
|  |  |  | Options Outstanding |  | Options Exercisable
|  |  |  |  |  | Weighted Average Remaining Contractual Life |  |  |  |  |  |
|  |  |  |  |  |  | Weighted Average Exercise Price |  |  |  | Weighted Average Exercise Price
|  | Number of Options |  |  |  | Number of Options |
Exercise Price |  |  |  |  |
$7.89 |  | 22 |  | 0.67 |  | $7.89 |  | 22 |  | $7.89
$11.54 - $14.33 |  | 53 |  | 3.18 |  | 13.31 |  | 43 |  | 13.42
$16.29 |  | 309 |  | 1.67 |  | 16.29 |  | 258 |  | 16.29
Total |  | 384 |  | 1.82 |  | $15.40 |  | 323 |  | $15.34
Unvested stock options | The following table summarizes information concerning unvested stock options (number of options in thousands):
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  |  |  |  | Weighted Average Grant-date Fair Value |  |  |  |  |  | Weighted Average Grant-date Fair Value |  |  |  |  |  | Weighted Average Grant-date Fair Value |
|  | Number of Options |  |  | Number of Options |  |  | Number of Options |
Unvested: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 253 |  |  | $ | 9.33 |  |  |  | 328 |  |  | $ | 9.93 |  |  |  | 447 |  |  | $ | 9.64 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Vested |  |  | (192 | ) |  |  | 9.13 |  |  |  | (81 | ) |  |  | 9.24 |  |  |  | (93 | ) |  |  | 8.96 |
Forfeited |  |  | - |  |  |  | - |  |  |  | (19 | ) |  |  | 7.95 |  |  |  | (26 | ) |  |  | 8.47 |
Adjustment due to VPG spin-off* |  |  | - |  |  |  | - |  |  |  | 25 |  |  |  | - |  |  |  | - |  |  |  | - |
End of year* |  |  | 61 |  |  | $ | 9.96 |  |  |  | 253 |  |  | $ | 9.33 |  |  |  | 328 |  |  | $ | 9.93 |
* The weighted average grant date fair value of the stock options included in the line item “Adjustment due to VPG spin-off” is equal to the weighted average grant date fair value of such stock options prior to the spin-off, as reduced by the spin-off adjustment. The weighted average grant date fair value of stock options outstanding as of December 31, 2010 also reflects the decrease in the grant date fair value as a result of the spin-off adjustment.
Restricted Stock Units Activity | RSU activity for the years ended December 31, 2011, 2010, and 2009 is presented below (number of RSUs in thousands):
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  |  |  |  | Weighted Average Grant-date Fair Value |  |  |  |  |  | Weighted Average Grant-date Fair Value |  |  |  |  |  | Weighted Average Grant-date Fair Value |
|  | Number of RSUs |  |  | Number of RSUs |  |  | Number of RSUs |
Outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 634 |  |  | $ | 9.61 |  |  |  | 155 |  |  | $ | 9.14 |  |  |  | 197 |  |  | $ | 9.88 |
Granted |  |  | 423 |  |  |  | 16.57 |  |  |  | 509 |  |  |  | 10.87 |  |  |  | 36 |  |  |  | 5.20 |
Vested |  |  | (154 | ) |  |  | 11.25 |  |  |  | (76 | ) |  |  | 9.68 |  |  |  | (78 | ) |  |  | 9.20 |
Cancelled or forfeited |  |  | (12 | ) |  |  | 13.26 |  |  |  | (14 | ) |  |  | 8.83 |  |  |  | - |  |  |  | - |
Adjustment due to VPG spin-off* |  |  | - |  |  |  | - |  |  |  | 60 |  |  |  | - |  |  |  | - |  |  |  | - |
End of year* |  |  | 891 |  |  | $ | 12.58 |  |  |  | 634 |  |  | $ | 9.61 |  |  |  | 155 |  |  | $ | 9.14 |
* The weighted average grant date fair value per unit included in the line item “Adjustment due to VPG spin-off” is equal to the weighted average grant date fair value per unit of such RSUs prior to the spin-off, as reduced by the spin-off adjustment. The weighted average grant date fair value per unit of RSUs outstanding as of December 31, 2010 also reflects the decrease in the grant date fair value as a result of the spin-off adjustment.
Summary of recognized stock-based compensation expense | RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands):
|  |  | Vesting Date |  | Number of RSUs
|  |  | January 1, 2013 |  | 324
|  |  | January 1, 2014 |  | 233
Phantom stock units activity under the 2007 Program as of December 31, 2011 | The following table summarizes the Company’s phantom stock units activity for the years ended December 31, 2011, 2010, and 2009 (number of phantom stock units in thousands):
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | Number of Phantom Stock Units |  |  | Grant- date Fair Value per Unit |  |  | Number of Phantom Stock Units |  |  | Grant- date Fair Value per Unit |  |  | Number of Phantom Stock Units |  |  | Number of Phantom Stock Units |
Outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 116 |  |  |  |  |  |  | 120 |  |  |  |  |  |  | 100 |  |  |  |
Granted |  |  | 15 |  |  | $ | 14.78 |  |  |  | 20 |  |  | $ | 8.76 |  |  |  | 20 |  |  | $ | 3.70 |
Redeemed for common stock |  |  | (44 | ) |  |  |  |  |  |  | (39 | ) |  |  |  |  |  |  | - |  |  |  |  |
Adjustment due to VPG spin-off |  |  | - |  |  |  |  |  |  |  | 15 |  |  |  |  |  |  |  | - |  |  |  |  |
End of year |  |  | 87 |  |  |  |  |  |  |  | 116 |  |  |  |  |  |  |  | 120 |  |  |  |  |
Available for future grants |  |  | 95 |  |  |  |  |  |  |  | 110 |  |  |  |  |  |  |  | 145 |  |  |  |  |

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