v2.4.0.8
Stock-Based Compensation Plans
6 Months Ended
Jun. 30, 2013
Stock-Based Compensation Plans [Abstract]  
Stock-Based Compensation Plans

(9)  Stock-based Compensation Plans

 

The Company records stock-based compensation expense in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income. Stock-based compensation expense for the quarter and six months ended June 30, 2013 and 2012 was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended June 30,

 

Six Months Ended June 30,

 

(in thousands)

 

2013

 

2012

 

2013

 

2012

 

Restricted stock awards

 

$

3,125 

 

$

1,304 

 

$

5,346 

 

$

2,480 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The number of shares of restricted common stock awarded and the weighted average fair value per share during the quarter and six months ended June 30, 2013 and 2012 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended June 30,

 

 

 

 

2013

 

 

2012

 

(in thousands, except per share amounts)

 

 

Shares Awarded

 

Weighted Average Fair Value

 

 

Shares Awarded

 

Weighted Average Fair Value

 

Restricted stock awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted under the 2004 Incentive Stock Plan

 

 

68 

 

$

46.84 

 

 

73 

 

$

26.31 

 

Granted under the 2004 Restricted Stock Plan for Non-Employee Directors

 

 

12 

 

 

48.43 

 

 

11 

 

 

27.42 

 

 Total restricted stock awards

 

 

80 

 

$

47.09 

 

 

84 

 

$

26.45 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

 

2013

 

 

2012

 

(in thousands, except per share amounts)

 

 

Shares Awarded

 

Weighted Average Fair Value

 

 

Shares Awarded

 

Weighted Average Fair Value

 

Restricted stock awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted under the 2004 Incentive Stock Plan

 

 

291 

 

$

39.14 

 

 

157 

 

$

24.22 

 

Granted under the 2004 Restricted Stock Plan for Non-Employee Directors

 

 

12 

 

 

48.43 

 

 

11 

 

 

27.42 

 

 Total restricted stock awards

 

 

303 

 

$

39.52 

 

 

168 

 

$

24.43 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the six months ended June 30, 2013, the Company granted restricted stock awards covering 291 shares of common stock pursuant to the Company’s 2004 Incentive Stock Plan.  Of the 291 shares granted in the first six months of 2013, 27 shares were awarded to executive officers of the Company.  Additionally, of the 291 shares granted in the first six months of 2013, 56 remained subject to acceptance at June 30, 2013.  In the first six months of 2012, the Company granted restricted stock awards covering 157 shares of common stock pursuant to the Company’s 2004 Incentive Stock Plan; of which 13 shares were awarded to executive officers of the Company.

 

In the first six months of 2013 and 2012, respectively, the Company granted 12 and 11 shares, respectively, of common stock pursuant to the Company’s 2004 Restricted Stock Plan for Non-Employee Directors. Stock compensation expense for Non-Employee Directors for the first six months of 2013 and 2012 was $600 and $300, respectively.