v2.3.0.15

COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2011

COMPENSATION PLANS

Summary of restricted common stock activity for awards that have not yet vested

		Shares			Weighted Average Grant-Date Fair Value
Non-vested restricted common stock, at beginning of period			217,794		$	27.96
Granted			61,585			35.80
Vested			(98,744	)		28.11
Forfeited			(8,775	)		30.77
Non-vested restricted common stock, at end of period			171,860		$	30.53

Schedule of assumptions used to compute the weighted average fair value of options granted

		Nine months ended
		September 30, 2011			September 30, 2010
Risk-free interest rate			2.6	%		2.7	%
Dividend yield			—			—
Estimated volatility			56.6	%		56.7	%
Expected option life			6 years			6 years

Summary of stock option activity

A summary of Intrepid's stock option activity for the nine months ended September 30, 2011, is as follows:

		Shares			Weighted Average Exercise Price			Aggregate Intrinsic Value(1)			Weighted Average Remaining Contractual Life			Weighted Average Grant-Date Fair Value
Outstanding non-qualified stock options, at beginning of period			273,851		$	22.69								$	10.69
Granted			102,196			35.69									19.59
Exercised			(14,739	)		22.33									10.02
Forfeited			(6,969	)		30.35									16.29
Outstanding non-qualified stock options, at end of period			354,339		$	26.31		$	619,153			8.2		$	13.17
Vested or expected to vest, end of period			339,487		$	26.00		$	617,544			8.2		$	12.95
Exercisable non-qualified stock options, at end of period			131,887		$	22.00		$	401,823			7.7		$	9.85

(1)

The intrinsic value of a stock option is the amount by which the market value exceeds the exercise price as of the end of the period presented.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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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.

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