XML 18 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Options and Restricted Stock
 6 Months Ended
Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [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, 2013 for additional information regarding the Company’s incentive plans.

In June 2014, the Company granted 4,866 shares of restricted common stock to non-employee directors in accordance with the 2010 Restricted Stock Plan. The market value of the restricted shares granted was $0.2 million.

During the six months ended June 30, 2014, options to purchase 123,167 shares of common stock were exercised. During the six months ended June 30, 2013, options to purchase 125,000 shares of common stock were exercised. In connection with these exercises, the Company received $1.1 million of stock option proceeds in the first six months each of 2014 and 2013.

The Company recognized share-based compensation expense of $0.4 million and $0.7 million in the six months ended June 30, 2014 and 2013, respectively.