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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2012
Share-Based Compensation [Abstract] |
Share-Based Compensation |
6. | Share-Based Compensation
The following table presents certain information related to stock options and non-vested shares (“restricted stock”) (in thousands, except per share data):
|  | Three Months Ended September 30, 2012 |
|  | Stock Options |  |  | Restricted Stock |
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |  |  | Weighted Average Remaining Term (Years) |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of June 30, 2012 |  |  | 6,485 |  |  | $ | 4.87 |  |  |  |  |  |  |  |  |  |  |  | 502 |  |  | $ | 5.66 |
Granted |  |  | 500 |  |  |  | 3.51 |  |  |  |  |  |  |  |  |  |  |  | 650 |  |  |  | 3.37 |
Forfeited |  |  | (30 | ) |  |  | 4.70 |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
Exercised (1) |  |  | (50 | ) |  |  | 2.31 |  |  |  |  |  |  |  |  |  |  |  | n/a |  |  |  | n/a |
Vested |  |  | n/a |  |  |  | n/a |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
Expired |  |  | (1,575 | ) |  |  | 6.50 |  |  |  |  |  |  |  |  |  |  |  | n/a |  |  |  | n/a |
Outstanding as of September 30, 2012 (2) |  |  | 5,330 |  |  | $ | 4.29 |  |  | $ | 1,017 |  |  |  | 3.2 |  |  |  | 1,152 |  |  | $ | 4.37 |
Exercisable as of September 30, 2012 |  |  | 4,417 |  |  | $ | 4.34 |  |  | $ | 847 |  |  |  | 2.5 |  |  |  |  |  |  |  |  |
|  | Nine Months Ended September 30, 2012 |
|  | Stock Options |  |  | Restricted Stock |
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |  |  | Weighted Average Remaining Term (Years) |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2011 |  |  | 6,720 |  |  | $ | 4.78 |  |  |  |  |  |  |  |  |  |  |  | 801 |  |  | $ | 5.67 |
Granted |  |  | 500 |  |  |  | 3.51 |  |  |  |  |  |  |  |  |  |  |  | 650 |  |  |  | 3.37 |
Forfeited |  |  | (30 | ) |  |  | 4.70 |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
Exercised (1) |  |  | (285 | ) |  |  | 2.35 |  |  |  |  |  |  |  |  |  |  |  | n/a |  |  |  | n/a |
Vested |  |  | n/a |  |  |  | n/a |  |  |  |  |  |  |  |  |  |  |  | (299 | ) |  |  | 5.69 |
Expired |  |  | (1,575 | ) |  |  | 6.50 |  |  |  |  |  |  |  |  |  |  |  | n/a |  |  |  | n/a |
Outstanding as of September 30, 2012 (2) |  |  | 5,330 |  |  | $ | 4.29 |  |  | $ | 1,017 |  |  |  | 3.2 |  |  |  | 1,152 |  |  | $ | 4.37 |
Exercisable as of September 30, 2012 |  |  | 4,417 |  |  | $ | 4.34 |  |  | $ | 847 |  |  |  | 2.5 |  |  |  |  |  |  |  |  |
(1) | Unless otherwise specified, such as in the case of the exercise of stock options, the per share prices were determined using the closing price of the Company’s Common Stock as quoted on the NYSE MKT LLC. Shares issued upon exercise of options represent original issuances in private transactions pursuant to Section 4(2) of the Securities Act of 1933, as amended.
(2) | All shares outstanding as of September 30, 2012 are expected to vest.
n/a - Not applicable The following table presents certain information regarding the Company’s stock-based compensation for the periods presented (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Compensation expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 246 |  |  | $ | 501 |  |  | $ | 892 |  |  | $ | 957 |
Restricted stock |  |  | 621 |  |  |  | 468 |  |  |  | 1,667 |  |  |  | 931 |
Total |  | $ | 867 |  |  | $ | 969 |  |  | $ | 2,559 |  |  | $ | 1,888 |
Deferred tax benefits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 95 |  |  | $ | 193 |  |  | $ | 344 |  |  | $ | 369 |
Restricted stock |  |  | 88 |  |  |  | — |  |  | $ | 380 |  |  |  | — |
Total |  | $ | 183 |  |  | $ | 193 |  |  | $ | 724 |  |  | $ | 369 |
Realized tax benefits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 27 |  |  | $ | — |  |  | $ | 168 |  |  | $ | — |
Restricted stock |  |  | — |  |  |  | — |  |  |  | 291 |  |  |  | — |
Total |  | $ | 27 |  |  | $ | — |  |  | $ | 459 |  |  | $ | — |
Excess tax benefits(shortfall): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | (1,693 | ) |  | $ | — |  |  | $ | (1,623 | ) |  | $ | — |
Restricted stock |  |  | — |  |  |  | — |  |  |  | (142 | ) |  |  | — |
Total |  | $ | (1,693 | ) |  | $ | — |  |  | $ | (1,765 | ) |  | $ | — |
Weighted average fair value per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock option grants |  | $ | 0.87 |  |  | $ | — |  |  | $ | 0.87 |  |  | $ | 1.67 |
Restricted stock grants |  | $ | 3.37 |  |  | $ | — |  |  | $ | 3.37 |  |  | $ | 5.61 |
Intrinsic value of options exercised |  | $ | 70 |  |  | $ | — |  |  | $ | 437 |  |  | $ | — |
Fair value of restricted stock vested |  | $ | — |  |  | $ | — |  |  | $ | 1,164 |  |  | $ | 540 |
Cash received for strike price and tax withholdings |  | $ | 134 |  |  | $ | — |  |  | $ | 652 |  |  | $ | — |
Shares acquired through cashless exercise (1) |  |  | — |  |  |  | — |  |  |  | 147 |  |  |  | — |
Value of shares acquired |  | $ | — |  |  | $ | — |  |  | $ | 583 |  |  | $ | — |
(1) | All shares acquired represent shares tendered to cover the exercise price for options and tax withholdings on the intrinsic value of options exercised or restricted stock vested. These shares have been cancelled by the Company.
The following table presents the amount of unrecognized compensation expense as of the most recent balance sheet date and the weighted average period over which those expenses will be recorded for both stock options and restricted stock (dollars in thousands):
|  | As of September 30, 2012 |
|  | Stock Options |  |  | Restricted Stock |
Unrecognized expense |  | $ | 1,120 |  |  | $ | 3,711 |
Weighted average remaining years |  |  | 1.18 |  |  |  | 1.71 |

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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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