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Stock Options and Restricted Stock
 3 Months Ended
Mar. 31, 2013
Stock Options and Restricted Stock [Abstract]  
Stock Options and Restricted Stock

Note 2. Stock Options and Restricted Stock

The Company has three equity incentive plans: the AMERISAFE 2005 Equity Incentive Plan (the “2005 Incentive Plan”), the AMERISAFE 2010 Non-Employee Director Restricted Stock Plan (the “2010 Restricted Stock Plan”) and the AMERISAFE 2012 Equity and Incentive Compensation Plan (the “2012 Incentive Plan”). See Note 13 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2012 for additional information regarding the Company’s incentive plans.

In February 2013, the Company granted 26,010 shares of restricted common stock to an executive officer. In March 2013, the compensation committee of our board of directors granted 3,131 shares of restricted common stock to three executive officers. The awards were made pursuant to the Company’s 2012 Incentive Plan.

During the three months ended March 31, 2013, options to purchase 95,000 shares of common stock were exercised. Related to these exercises, the Company received $0.9 million of stock option proceeds. During the three months ended March 31, 2012, there were no stock options exercised.

The Company recognized share-based compensation expense of $0.3 million and $0.1 million in the quarters ended March 31, 2013 and 2012.