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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock Options: A summary of option activity under our 1998 Stock Option plan for the six months ended June 30, 2013 is presented below.
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2012 | 394,322 |  |  | $ | 15.30 |  |  |  |  |  |
Granted | 47,000 |  |  | 18.75 |  |  |  |  |  |
Exercised | (25,887 | ) |  | 14.23 |  |  |  |  |  |
Canceled/Forfeited | (3,833 | ) |  | 17.01 |  |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |  |
Outstanding, June 30, 2013 | 411,602 |  |  | $ | 15.75 |  |  | 5.80 |  | $ | 3,187 |
Exercisable, June 30, 2013 | 342,520 |  |  | $ | 15.32 |  |  | 5.11 |  | $ | 2,800 |
The following table summarizes information about our stock options outstanding at June 30, 2013:
Range of Exercise Prices |  | Options Outstanding |  | Options Exercisable
| Shares |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$0.01-9.43 |  | 71,352 |  |  | 3.47 |  | $ | 8.72 |  |  | 71,352 |  |  | $ | 8.72 |
$9.44-15.60 |  | 77,000 |  |  | 5.58 |  | 12.77 |  |  | 64,334 |  |  | 12.35 |
$15.61-20.48 |  | 263,250 |  |  | 6.50 |  | 18.52 |  |  | 206,834 |  |  | 18.51 |
$0.01-20.48 |  | 411,602 |  |  | 5.80 |  | $ | 15.75 |  |  | 342,520 |  |  | $ | 15.32 |
The summary of the status of our unvested stock options as of December 31, 2012 and changes during the six months ended June 30, 2013 is presented below.
Unvested stock options: | Shares |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2012 | 49,334 |  |  | $ | 9.01 |
Granted | 47,000 |  |  | 10.30 |
Vested | (26,335 | ) |  | 9.05 |
Canceled/Forfeited | (917 | ) |  | 8.74 |
Unvested at June 30, 2013 | 69,082 |  |  | $ | 9.88 |
As of June 30, 2013, there was $505,690 of unrecognized compensation cost related to unvested options. Such cost is expected to be recognized over a weighted-average period of 2.33 years. Total compensation expense for stock options was $57,144 and $214,083 for the six months ended June 30, 2013 and 2012, respectively. Restricted Stock: On March 21, 2013, the Compensation Committee awarded 20,000 shares of restricted common stock to two of our three named executive officers. The restricted shares issued to Messrs. Hazlett and Lawrence vest one year from the grant date. We also awarded and issued 10,000 shares of restricted stock to our Board of Directors as partial payment for 2013 Directors' fees. The restricted stock vests in quarterly installments beginning March 31, 2014. In accordance with Mr. Taylor's employment agreement, the Compensation Committee reviewed his performance in determining the issuance of restricted common stock. Based on this review which included consideration of the Company's 2012 performance, Mr. Taylor, our Chief Executive Officer, was awarded 56,950 restricted shares on April 30, 2013, which vest one year from the date of grant. Total compensation expense related to restricted stock awards was $540,703 and $471,629 for the six months ended June 30, 2013 and 2012, respectively. As of June 30, 2013, there was a total of $1,656,422 of unrecognized compensation expenses related to these shares of restricted stock which is expected to be realized in 1.06 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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