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Share-Based Compensation | 3 Months Ended
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Mar. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | NOTE 8 — SHARE-BASED COMPENSATION Share-Based Compensation Expense For the three months ended March 31, 2013 and 2012, share-based compensation expense was $98,000 and $51,000, respectively, and the related tax benefits on non-qualified stock options were $12,000 and $4,000, respectively. Unrecognized Share-Based Compensation Expense As of March 31, 2013, unrecognized share-based compensation expense was as follows:
|  |  |  |  | Average Expected |
|  | Unrecognized |  |  | Recognition |
|  | Expense |  |  | Period |
|  | (In Thousands) |
Stock Option Awards |  | $ | 849 |  |  |  | 2.7 years |
Restricted Stock Awards |  |  | 44 |  |  |  | 1.0 years |
Total Unrecognized Share-Based Compensation Expense |  | $ | 893 |  |  |  | 2.6 years |
The table below provides stock option information for the three months ended March 31, 2013:
|  |  |  |  |  |  |  |  |  |  | Aggregate |
|  |  |  |  | Weighted- |  |  | Weighted |  |  | Intrinsic |
|  |  |  |  | Average |  |  | Average |  |  | Value of |
|  |  |  |  | Exercise |  |  | Remaining |  |  | In-the- |
|  | Number of |  |  | Price Per |  |  | Contractual |  |  | Money |
|  | Shares |  |  | Share |  |  | Life |  |  | Options |
|  | (Dollars in Thousands, Except Per Share Data) |
Options Outstanding at Beginning of Period |  |  | 342,950 |  |  | $ | 37.44 |  |  |  | 8.0 years |  |  | $ | 359 | (1)
Options Exercised |  |  | (1,679 | ) |  | $ | 12.54 |  |  |  | 9.7 years |  |  |  |  |
Options Forfeited |  |  | (5,251 | ) |  | $ | 12.54 |  |  |  | 9.7 years |  |  |  |  |
Options Expired |  |  | (700 | ) |  | $ | 120.96 |  |  |  | 1.7 years |  |  |  |  |
Options Outstanding at End of Period |  |  | 335,320 |  |  | $ | 37.78 |  |  |  | 7.7 years |  |  | $ | 721 | (2)
Options Exercisable at End of Period |  |  | 163,632 |  |  | $ | 64.38 |  |  |  | 5.9 years |  |  | $ | 364 | (2)
(1) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $13.59 as of December 31, 2012, over the exercise price, multiplied by the number of options.
(2) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $16.00 as of March 28, 2013, over the exercise price, multiplied by the number of options.
There were 1,679 stock options exercised during the three months ended March 31, 2013 compared to none during the three months ended March 31, 2012. Restricted Stock Awards Restricted stock awards under the 2007 Plan generally become fully vested after three to five years of continued employment from the date of grant. Hanmi Financial becomes entitled to an income tax deduction in an amount equal to the taxable income reported by the holders of the restricted stock awards when the restrictions are released and the shares are issued. Restricted stock awards are forfeited if officers and employees terminate prior to the lapsing of restrictions. Forfeitures of restricted stock awards are treated as cancelled shares. The table below provides information for restricted stock awards for the three months ended March 31, 2013:
|  |  |  |  | Weighted- |
|  |  |  |  | Average |
|  |  |  |  | Grant Date |
|  | Number of |  |  | Fair Value |
|  | Shares |  |  | Per Share |
Restricted Stock at Beginning of Period |  |  | 10,500 |  |  | $ | 10.83 |
Restricted Stock Vested |  |  | (2,500 | ) |  | $ | 10.40 |
Restricted Stock at End of Period |  |  | 8,000 |  |  | $ | 10.97 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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