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Equity Compensation Plans
 6 Months Ended
Jun. 30, 2014
Equity Compensation Plans

Note 17. Equity Compensation Plans

At June 30, 2014 and December 31, 2013, 2,608,264 and 1,683,956 shares of common stock, respectively, were available for grant under our Incentive Plan. The unamortized compensation cost of awards issued under the Incentive Plan and purchases under the Employee Stock Purchase Plan totaled $17 million at June 30, 2014, as shown in the following table.

Six Months Ended June 30, 2014

(In Thousands)

 Stock
Options		 Restricted
Stock		 Deferred
Stock Units		 Performance
Stock Units		 Employee Stock
Purchase Plan		 Total

Unrecognized compensation cost at beginning of period

 $ - $ 1,869 $ 13,044 5,817 - 20,730

Equity grants

 - 30 1,128 - 215 1,373

Equity grant forfeitures

 - (154) (150) - - (304)

Equity compensation expense

 - (349) (3,234) (1,464) (107) (5,154)

Unrecognized Compensation Cost at End of Period

 $ - $ 1,396 $ 10,788 $ 4,353 $ 108 $ 16,645

At June 30, 2014, the weighted average amortization period remaining for all of our equity awards was less than two years.

Stock Options

At June 30, 2014 and December 31, 2013, there were 57,514 and 79,535 fully vested stock options outstanding, respectively. There was no aggregate intrinsic value for the options outstanding and exercisable at June 30, 2014. For both the six months ended June 30, 2014 and 2013, there were no stock options exercised. For the six months ended June 30, 2014, 22,021 stock options expired.

Restricted Stock

At June 30, 2014 and December 31, 2013, there were 112,418 and 166,941 shares, respectively, of restricted stock awards outstanding. Restrictions on these shares lapse through 2018. There were no restricted stock awards granted during the six months ended June 30 2014.

Deferred Stock Units (“DSUs”)

At June 30, 2014 and December 31, 2013, there were 2,033,771 and 2,266,473 DSUs outstanding, respectively, of which 1,224,122 and 1,263,420, respectively, had vested. There were 139,147 DSUs granted during the six months ended June 30, 2014. During the six months ended June 30, 2014, there were 7,870 DSUs forfeited related to employee departures. During the six months ended June 30, 2014, there were 363,980 DSU distributions and cash distributions of less than $1 million to participants in the EDCP. Unvested DSUs at June 30, 2014 vest through 2018.

Performance Stock Units (“PSUs”)

At both June 30, 2014 and December 31, 2013, the target number of PSUs that were unvested was 779,871. PSUs do not vest until the third anniversary of their grant date, with the level of vesting at that time contingent on total stockholder return (defined as the change in our common stock price plus dividends paid on our common stock relative to the per share price of our common stock on the date of the PSU grant) over the three-year vesting period (“Three-Year TSR”). The number of underlying shares of our common stock that will vest during 2014 and in future years will vary between 0% (if Three-Year TSR is negative) and 200% (if Three-Year TSR is greater than or equal to 125%) of the target number of PSUs originally granted, adjusted upward (if vesting is greater than 0%) to reflect the value of dividends paid during the three-year vesting period. During the six months ended June 30, 2014, 351,640 shares of common stock underlying vested PSUs were distributed.

Employee Stock Purchase Plan

The ESPP allows a maximum of 450,000 shares of common stock to be purchased in aggregate for all employees. At June 30, 2014 and December 31, 2013, 257,921 and 243,020 shares had been purchased, respectively, and there remained a negligible amount of uninvested employee contributions in the ESPP.