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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2014
Stock Based Compensation  
Summary of the activity of the equity incentive plans excluding the 200,000 units

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Restricted share grants

 

 

 

118,850

 

112,650

 

Per share grant price

 

 

 

$

20.54

 

$

21.59

 

Deferred compensation to be recognized over vesting period

 

 

 

$

2,441,000

 

$

2,432,000

 

Non-vested shares:

 

 

 

 

 

 

 

 

 

Non-vested beginning of period

 

481,045

 

470,015

 

470,015

 

407,460

 

Grants

 

 

 

118,850

 

112,650

 

Vested during period

 

 

 

(101,300

)

(50,095

)

Forfeitures

 

(50

)

 

(6,570

)

 

Non-vested end of period

 

480,995

 

470,015

 

480,995

 

470,015

 

 

 

 

 

 

 

 

 

 

 

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

 

$

14.55

 

$

14.22

 

$

14.55

 

$

14.22

 

 

 

 

 

 

 

 

 

 

 

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

 

$

 

$

 

$

621,000

 

$

876,000

 

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

 

$

419,000

 

$

335,000

 

$

1,281,000

 

$

1,037,000

 

Outstanding restricted stock units

 

29,000

 

31,000

 

87,000

 

95,000

 

Total charge to operations

 

$

448,000

 

$

366,000

 

$

1,368,000

 

$

1,132,000