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Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2013
Stock Based Compensation  
Summary of the activity of the equity incentive plans excluding the 200,000 units

The following is a summary of the activity of the equity incentive plans (excluding, except as otherwise noted, the 200,000 Units):

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Restricted share grants

 

 

 

112,650

 

109,450

 

Average per share grant price

 

 

 

$

21.59

 

$

16.77

 

Deferred compensation to be recognized over vesting period

 

 

 

$

2,432,000

 

$

1,835,000

 

Non-vested shares:

 

 

 

 

 

 

 

 

 

Non-vested beginning of period

 

470,015

 

408,510

 

407,460

 

348,385

 

Grants

 

 

 

112,650

 

109,450

 

Vested during period

 

 

 

(50,095

)

(49,325

)

Forfeitures

 

 

 

 

 

Non-vested end of period

 

470,015

 

408,510

 

470,015

 

408,510

 

 

 

 

 

 

 

 

 

 

 

Average per share value of non-vested shares (based on grant price)

 

$

14.22

 

$

12.59

 

$

14.22

 

$

12.59

 

 

 

 

 

 

 

 

 

 

 

Value of shares vested during the period (based on grant price)

 

$

 

$

 

$

876,000

 

$

1,208,000

Schedule of the total charge to operations for all incentive plans, including the 200,000 units

 

 

 

 

 

 

 

 

 

The total charge to operations for all incentive plans, including the 200,000 Units, is as follows:

 

 

 

 

 

 

 

 

 

Outstanding restricted stock grants

 

$

335,000

 

$

260,000

 

$

702,000

 

$

542,000

 

Outstanding restricted stock units

 

34,000

 

24,000

 

64,000

 

44,000

 

Total charge to operations

 

$

369,000

 

$

284,000

 

$

766,000

 

$

586,000