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Equity-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2012
Black-Scholes Valuation Model Assumptions Used to Estimate Fair Value of Stock Options Granted | The fair value of stock options granted was estimated using a Black-Scholes valuation model and the following assumptions:
|  | 2011 |
Expected dividend yield |  |  | 5.09 | %
Expected stock price volatility |  |  | 56.6 | %
Risk-free interest rate |  |  | 2.57 | %
Expected life of options (in years) |  |  | 6.5 |
Weighted average estimated fair value |  |  |  |
of options at grant date per share |  | $ | 3.48 |
Summary Stock Option Activity | The following table summarizes stock option activity under our 2011 Equity Incentive Plan for 2012:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Terms |  |  | Aggregate Intrinsic Value (Current Value Less Exercise Price) |
|  |  |  |  | (Per share) |  |  | (In years) |  |  | (in thousands) |
Outstanding at December 31, 2011 |  |  | 940,000 |  |  | $ | 9.75 |  |  |  | 8 |  |  | $ | - |
Granted |  |  | - |  |  | $ | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  | $ | - |  |  |  |  |  |  |  |  |
Forfeited |  |  | (47,000 | ) |  | $ | 9.75 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 893,000 |  |  | $ | 9.75 |  |  |  | 8 |  |  | $ | - |
Exercisable at December 31, 2012 |  |  | - |  |  | $ | - |  |  |  |  |  |  | $ | - |
Equity-Based Compensation Expense | Equity-based compensation expense for 2012 and 2011 was (in thousands):
|  | 2012 |  |  | 2011 |
Included in corporate general and administrative salaries |  |  |  |  |  |
and other compensation in the consolidated statements of operations |  |  |  |  |  |
Stock options |  | $ | 700 |  |  | $ | 441 |
Time-based restricted stock |  |  | 214 |  |  |  | - |
Performance-based restricted stock |  |  | 171 |  |  |  | - |
|  |  | 1,085 |  |  |  | 441 |
Included in corporate general and administrative other in |  |  |  |  |  |  |  |
the consolidated statements of operations |  |  |  |  |  |  |  |
Director stock |  |  | 120 |  |  |  | 39 |
|  | $ | 1,205 |  |  | $ | 480 |
Time Based Restricted Stock |
Restricted Stock Activity | The following table summarizes time-based restricted stock activity under our 2011 Equity Incentive Plan for 2012:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  |  | Aggregate Current Value
|  |  |  |  | (Per share) |  |  |  | (In thousands)
Non-vested January 1, 2012 |  |  | - |  |  |  |  |  |  |
Granted |  |  | 110,137 |  |  | $ | 7.78 |  |  |  |
Vested |  |  | (27,534 | ) |  | $ | 7.78 |  |  |  |
Forfeited |  |  | - |  |  |  |  |  |  |  |
Non-vested December 31, 2012 |  |  | 82,603 |  |  | $ | 7.78 |  |  | $ | 785
Performance Based Restricted Stock |
Restricted Stock Activity | The following table summarizes performance-based restricted stock activity under our 2011 Equity Incentive Plan for 2012:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  |  | Aggregate Current Value
|  |  |  |  | (Per share) |  |  |  | (In thousands)
Non-vested January 1, 2012 |  |  | - |  |  |  |  |  |  |
Granted |  |  | 82,602 |  |  | $ | 7.78 |  |  |  |
Vested |  |  | - |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  |  |  |  |  |
Non-vested December 31, 2012 |  |  | 82,602 |  |  | $ | 7.78 |  |  |  | $785

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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