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Equity Based Plans | 12 Months Ended
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Dec. 31, 2014
Equity Based Plans [Abstract] |
Equity Based Plans | 10. Equity Based Plans The Company has the following equity based plans with outstanding equity grants: The Amended and Restated 1999 Employee Stock Option Plan (the “Amended 1999 Plan”) permits the Company to grant to non-employee directors and employees of the Company up to 600,000 non-qualified options to purchase shares of common stock and restricted stock (subject to proportionate adjustments in the event of stock dividends, splits, and similar corporate transactions). The exercise prices of options granted under the Amended 1999 Plan are determined by the Compensation Committee. The period within which each option will be exercisable is determined by the Compensation Committee. The Amended 1999 Plan was approved by the shareholders of the Company at the 2008 Shareholders Meeting on May 20, 2008. The Amended and Restated 2003 Stock Option Plan (the “Amended 2003 Plan”) permits the Company to grant to key employees and outside directors of the Company incentive and non-qualified options and shares of restricted stock covering up to 1,750,000 shares of common stock (subject to proportionate adjustments in the event of stock dividends, splits, and similar corporate transactions). The Amended 2003 Plan was approved by the shareholders of the Company at the 2013 Shareholders Meeting on May 14, 2013. A cumulative summary of equity plans as of December 31, 2014 follows:
|  | Authorized |  |  | Restricted Stock Issued |  |  | Outstanding Stock Options |  |  | Stock Options Exercised |  |  | Stock Options Exercisable |  |  | Shares Available for Grant |
Equity Plans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amended 1999 Plan |  |  | 600,000 |  |  |  | 377,552 |  |  |  | 700 |  |  |  | 139,091 |  |  |  | 700 |  |  |  | 82,657 |
Amended 2003 Plan |  |  | 1,750,000 |  |  |  | 557,454 |  |  |  | - |  |  |  | 778,300 |  |  |  | - |  |  |  | 414,246 |
|  |  | 2,350,000 |  |  |  | 935,006 |  |  |  | 700 |  |  |  | 917,391 |  |  |  | 700 |  |  |  | 496,903 |
As of December 31, 2014, there were outstanding stock options to purchase 700 shares. All options to purchase the 700 shares have an exercise price of $18.42 per share with the contractual term ending on August 23, 2015. Based on the closing price at December 31, 2014 of $41.96 per share, these options have an intrinsic value of $16,478. During 2014, options representing 30,000 common shares were exercised. The intrinsic value of the shares exercised in 2014 was $0.6 million. During 2014, 2013 and 2012, the Company granted the following shares (net of those shares cancelled in their respective grant year due to employee terminations prior to restrictions lapsing) of restricted stock to directors, officers and employees pursuant to its equity plans as follows:
Year Granted |  | Number of Shares |  |  | Weighted Average Fair Value Per Share |
2014 |  |  | 159,443 |  |  | $ | 33.29 |
2013 |  |  | 174,938 |  |  | $ | 23.52 |
2012 |  |  | 80,650 |  |  | $ | 21.65 |
Generally, restrictions on the stock granted to employees lapse in equal annual installments on the following four or five anniversaries of the date of grant. For those shares granted to directors, the restrictions will lapse in equal quarterly installments during the first year after the date of grant. For those granted to executive officers, the restriction will lapse in equal quarterly installments during the four years following the date of grant. As of December 31, 2014, there were 279,833 shares outstanding for which restrictions had not lapsed. The restrictions will lapse in 2015 through 2018. Compensation expense for grants of restricted stock will be recognized based on the fair value on the date of grant. Compensation expense for restricted stock grants was $3,363,000, $2,743,000 and $2,102,000, respectively, for 2014, 2013 and 2012. As of December 31, 2014, the remaining $6.1 million of compensation expense will be recognized from 2015 through 2018.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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