XML 126 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share-Based Compensation
 6 Months Ended
Jun. 30, 2013
Share-based Compensation [Abstract]  
Share-Based Compensation
Share-Based Compensation
As of June 30, 2013, there were two share-based compensation plans under which the Company has outstanding awards. The Company can elect to make new awards under one of these plans, the CBL & Associates Properties, Inc. 2012 Stock Incentive Plan ("the 2012 Plan"), which was approved by the Company's shareholders in May 2012. The 2012 Plan permits the Company to issue stock options and common stock to selected officers, employees and non-employee directors of the Company up to a total of 10,400,000 shares. The Company did not issue any new awards under the CBL & Associates Properties, Inc. Second Amended and Restated Stock Incentive Plan ("the 1993 Plan"), which was approved by the Company's shareholders in May 2003, between the adoption of the 2012 Plan to replace the 1993 Plan in May 2012 and the termination of the 1993 Plan (as to new awards) on May 5, 2013.
Share-based compensation expense was $357 and $729 for the three months ended June 30, 2013 and 2012, respectively, and $1,757 and $1,756 for the six months ended June 30, 2013 and 2012, respectively. Share-based compensation cost capitalized as part of real estate assets was $55 and $30 for the three months ended June 30, 2013 and 2012, respectively, and $105 and $51 for the six months ended June 30, 2013 and 2012, respectively.
A summary of the status of the Company’s stock awards as of June 30, 2013, and changes during the six months ended June 30, 2013, is presented below: 
 
Shares
 
Weighted
 Average
Grant-Date
Fair Value
Nonvested at January 1, 2013
346,860

 
$
17.06

Granted
209,650

 
$
21.92

Vested
(208,030
)
 
$
18.40

Forfeited
(8,590
)
 
$
18.20

Nonvested at June 30, 2013
339,890

 
$
19.20


As of June 30, 2013, there was $5,905 of total unrecognized compensation cost related to nonvested stock awards granted under the plans, which is expected to be recognized over a weighted-average period of 3.9 years.