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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2015
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
March 31,

 

 

 

2015

 

2014

 

Restricted share grants

 

129,975

 

118,850

 

Per share grant price

 

$

24.60

 

$

20.54

 

Deferred compensation to be recognized over vesting period

 

$

3,197,000

 

$

2,441,000

 

Number of non-vested shares:

 

 

 

 

 

Non-vested beginning of period

 

480,995

 

470,015

 

Grants

 

129,975

 

118,850

 

Vested during period

 

(70,685

)

(101,300

)

Forfeitures

 

 

(6,520

)

Non-vested end of period

 

540,285

 

481,045

 

 

 

 

 

 

 

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

 

$

17.12

 

$

14.55

 

 

 

 

 

 

 

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

 

$

586,000

 

$

621,000

 

 

 

 

 

 

 

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

 

 

 

 

 

Outstanding restricted stock grants

 

$

548,000

 

$

443,000

 

Outstanding restricted stock units

 

29,000

 

29,000

 

Total charge to operations

 

$

577,000

 

$

472,000