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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
In November 2009, the Company granted employee options to purchase 300,000 shares of common stock with an exercise price of $14.97, of which 75,000 options vest and become exercisable annually starting July 1, 2011. The options expire in November 2019. As of June 30, 2013, 150,000 of these options were vested and 300,000 options were outstanding. Total stock-based compensation for the three months ended June 30, 2013 and 2012 related to this 300,000 option grant was $187,000 for each period. Total stock-based compensation for the six months ended June 30, 2013 and 2012 related to this 300,000 option grant was $375,000 for each period. As of June 30, 2013, there was approximately $750,000 of unrecognized stock-based compensation expense relating to these options. This amount is expected to be recognized over 1.0 year.
In January 2012, the Company granted employee options to purchase 100,000 shares of common stock with an exercise price of $28.98, of which 25,000 options become exercisable annually starting January 23, 2013. The options expire in January 2022. As of June 30, 2013, 25,000 of these options were vested and 100,000 options were outstanding. Total stock-based compensation for the three months ended June 30, 2013 and 2012 related to this 100,000 option grant was $119,000 for each period. Total stock-based compensation for the six months ended June 30, 2013 and 2012 related to this 100,000 option grant was $238,000 and $219,000, respectively. As of June 30, 2013, there was approximately $1.2 million of unrecognized stock-based compensation expense relating to these options. This amount is expected to be recognized over 2.6 years. The Company used a forfeiture rate of 0% as the Company does not have enough historical forfeiture data to estimate the forfeiture rate. To the extent the actual forfeiture rate is greater than what we have anticipated, stock-based compensation related to these options will be lower than our expectations.