STOCK-BASED COMPENSATION PLANS

9 Months Ended

Sep. 30, 2014

NOTE 11. STOCK-BASED COMPENSATION PLANS

A combined summary of activity in the Company’s stock award and stock option plans for the nine months ended September 30, 2014 is presented in the following table:

	Non-vested Stock
	Awards Outstanding				Stock Options Outstanding
			Weighted-				Weighted-
			Average				Average
	Number of		Grant Date		Number of		Exercise
(Shares in thousands)	Shares		Fair Value		Shares		Price
Balance, December 31, 2013	334		$	23.26	442		$	20.41
Granted	174		24.68		—		—
Stock options exercised	—		—		(90	)	11.79
Stock awards vested	(83	)	22.78		—		—
Forfeited	(7	)	23.54		—		—
Expired	—		—		(69	)	36.50
Balance, September 30, 2014	418		$	24.33	283		$	20.32
Exercisable options, September 30, 2014					283		$	20.63

During the nine months ended September 30, 2014 and 2013, proceeds from stock option exercises totaled $1,052 thousand and totaled $3.0 million, respectively. During the nine months ended September 30, 2014, there were 83 thousand shares issued in connection with vested stock awards. During the nine months ended September 30, 2013, there were 95 thousand shares issued in connection with vested stock awards. All of these shares were issued from available treasury stock. Stock-based compensation expense totaled $2.9 million and $2.1 million during the nine months ended September 30, 2014 and 2013, respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all awards.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details