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Long-Term Compensation Plan and Stock Based Compensation
 9 Months Ended
Sep. 30, 2012
Long-Term Compensation Plan and Stock Based Compensation [Abstract]  
Long-Term Compensation Plan and Stock Based Compensation

Note 9 – Long-Term Compensation Plan and Stock Based Compensation

Under the VASCO Data Security International, Inc. 2009 Equity Incentive Plan (“2009 Equity Incentive Plan”), we awarded 262 shares of restricted stock in the first quarter of 2012 consisting of 96 unissued shares subject to future performance criteria and 166 issued shares. The market value of the 166 issued restricted shares of $1,144 at the date of grant is being amortized over the respective vesting periods of one to four years. The market value of the 96 unissued shares subject to performance criteria of $661 at the date of grant was being amortized over the four-year vesting period beginning in the first quarter of 2012. During the third quarter of 2012, achievement of the performance targets was deemed improbable and prior amortization of $79 recorded in the first and second quarters of 2012 was reversed in the third quarter of 2012.

In the second quarter of 2012, under the 2009 Equity Incentive Plan, we awarded and issued 71 shares of restricted stock. The market value of the restricted shares of $662 at the date of grant is being amortized over the respective vesting period of four years.

Also in the second quarter of 2012, we awarded long-term incentive awards under the 2009 Equity Incentive Plan. The awards are variable subject to achievement of performance targets established by the Board of Directors. The award level of $1,984 was being expensed on a straight-line basis over the four-year vesting period beginning in the second quarter. During the third quarter of 2012, achievement of the performance targets was deemed improbable and prior provisions of $90, recorded in the second quarter of 2012, were reversed in the third quarter of 2012.

 

The following table details long-term compensation plan and stock-based compensation expense for the three and nine months ended September 30, 2012 and 2011:

 

                                 
    Three months
ended September 30,		     Nine months
ended September 30,		  
    2012     2011     2012     2011  

Restricted stock

   $ 356     $ 436     $ 2,060     $ 1,182  

Long-term compensation plan

     144       455       688       1,025  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total Non-Cash Compensation

   $ 500     $ 891     $ 2,748     $ 2,207