Share-Based Compensation

6 Months Ended

Jun. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 2. Share-Based Compensation

The following table summarizes share-based compensation expense:


	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
	(in thousands)
Restricted stock	$	947		$	971		$	1,720		$	1,720
Performance unit incentive plan (“PUP”)		(339	)		434			524			672
Stock options		6			153			101			302
Restricted stock units		(66	)		79			22			160

Total share-based compensation before income tax benefit		548			1,637			2,367			2,854
Income tax benefit		(230	)		(591	)		(903	)		(1,031	)

Total share-based compensation, net of income tax benefit	$	318		$	1,046		$	1,464		$	1,823

The following table summarizes the activity of the outstanding share-based compensation awards:


	Restricted Stock					Restricted Stock Units					PUP Awards
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
				Grant Date					Grant Date					Grant Date
	Shares			Fair Value		Units			Fair Value		Units			Fair Value
Balance at January 1, 2013		516,351		$	21.25		40,500		$	20.82		210,600		$	21.70
Granted		99,400			27.35		8,600			27.35		93,100			27.35
Vested		(155,486	)		20.87		(11,300	)		19.10		—			—
Forfeited		(3,606	)		23.20		(7,165	)		21.80		(432	)		20.60

Balance at June 30, 2013		456,659			22.69		30,635			23.06		303,268			23.43

The unamortized cost of all outstanding restricted stock awards as of June 30, 2013, was $4.9 million, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately 2.0 years. During the six months ended June 30, 2013 and 2012, the Company repurchased 47,160 shares for $1.3 million and 50,894 shares for $1.0 million, respectively, related to tax withholding requirements on vested share-based awards. As of June 30, 2013, there were 1,004,579 total shares available for future grant.

As of June 30, 2013 and December 31, 2012, Viad had liabilities recorded of $355,000 and $633,000, respectively, related to restricted stock unit liability awards. A portion of the 2009 and 2010 restricted stock unit awards vested in February 2013 and 2012, respectively, and cash payouts of $300,000 and $257,000 were distributed in February 2013 and 2012, respectively. In addition, a portion of the 2009 performance-based restricted stock unit awards vested effective December 31, 2009, and cash payouts of $35,000 were distributed in January 2012.

As of June 30, 2013 and December 31, 2012, Viad had liabilities recorded of $4.2 million and $3.7 million, respectively, related to PUP awards. There were no PUP awards which vested during the six months ended June 30, 2013 or 2012. Furthermore, there were no cash settlements of PUP awards during the six months ended June 30, 2013 or 2012.

The following table summarizes stock option activity:


				Weighted-
				Average		Options
	Shares			Exercise Price		Exercisable
Options outstanding at January 1, 2013		363,896		$	22.03		276,009
Exercised		(47,343	)		19.48
Forfeited or expired		(27,086	)		28.28

Options outstanding at June 30, 2013		289,467			21.87		287,467

The total unrecognized cost related to non-vested stock option awards was $7,000 as of June 30, 2013, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately less than one year. No stock options were granted during the six months ended June 30, 2013.

- 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.

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