Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

For the three months ended September 30, 2013 and 2014, we recognized stock-based compensation expense totaling $2.2 million and $1.3 million, respectively. A majority of the expense, $2.0 million and $1.2 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Operations, with the remaining expenses recorded as cost of sales and research and development.

For the nine months ended September 30, 2013 and 2014, we recognized stock-based compensation expense of $5.9 million and $4.0 million, respectively. A majority of the expense, $5.4 million and $3.3 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Operations, with the remaining expenses recorded as cost of sales and research and development.

As of September 30, 2014, the total compensation cost related to non-vested restricted stock, performance shares and stock options not yet recognized was $7.2 million, which will be recognized over the remaining weighted average life of 1.23 years.

Restricted Stock and Performance Shares

Restricted stock and performance share awards activity under the plans for the nine months ended September 30, 2014 was:



	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding unvested as of January 1, 2014	1,633,491		$	10.98
Granted	215,100		10.53
Vested	(188,732	)	13.90
Forfeited/canceled/expired	(807,296	)	10.20
Outstanding unvested as of September 30, 2014	852,563		10.98

Stock Options

Stock option activity under the plans for the nine months ended September 30, 2014 was:



	Number of Shares		Weighted- Average Exercise Price
Outstanding as of January 1, 2014	1,916,718		$	12.47
Granted	145,034		11.56
Forfeited/canceled/expired	(174,093	)	11.64
Exercised	(316,733	)	8.88
Outstanding as of September 30, 2014	1,570,926		13.20

- 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.

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