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Stockholders' Equity
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Stockholders' Equity
8. Stockholders’ Equity

Common Stock

The following table summarizes the activity relating to shares of the Company’s common stock during the periods presented (in thousands):

 

     Issued
Shares		     Treasury
Shares		     Outstanding
Shares		  

Balance, as of December 31, 2012

      41,889        (1,018 )      40,871   
  

 

 

    

 

 

    

 

 

  

Shares repurchased

      —          (6,666 )      (6,666 ) 

Options exercised

      1,925        —          1,925   

Restricted stock grant

      850        —          850   

Shares acquired through cashless exercise (1)

      —          (1,683 )      (1,683 ) 

Shares cancelled

      (1,683 )      1,683        —     
  

 

 

    

 

 

    

 

 

  

Balance, as of June 30, 2013

      42,981        (7,684 )      35,297   
  

 

 

    

 

 

    

 

 

  

 

(1) All shares acquired represent shares tendered to cover the strike 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.

On April 1, 2013, UIH entered into a repurchase agreement with Bradley I. Meier, the Company’s former Chairman, President and Chief Executive Officer and a principal stockholder of UIH, to repurchase an aggregate of four million shares of UIH’s common stock owned by Mr. Meier. The initial repurchase of two million of Mr. Meier’s shares occurred on April 1, 2013, and the subsequent repurchase of two million shares occurred on May 23, 2013, each at a price of $4.02 per share, representing a discount from the then-current market price of UIH’s common stock.

Also on May 23, 2013, UIH entered into a second repurchase agreement with Mr. Meier to repurchase an additional 2.666 million shares of UIH’s common stock owned by Mr. Meier. The repurchase of 2.666 million of Mr. Meier’s shares occurred on May 23, 2013 for a repurchase price of $4.50 per share, representing a discount from the then-current market price of the Company’s common stock.

Dividends

On February 8, 2013, the Company declared a dividend of $0.08 per share on its outstanding common stock paid on April 5, 2013, to the shareholders of record at the close of business on March 14, 2013.

On April 18, 2013, the Company declared a dividend of $0.08 per share on its outstanding common stock paid on June 17, 2013, to the shareholders of record at the close of business on June 3, 2013.