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Employee Stock Compensation Plans | 12 Months Ended
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Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Employee Stock Compensation Plans | 9. Employee stock compensation plans: a.) The 2006 Plan On June 27, 2006, Solitario's shareholders approved the 2006 Stock Option Incentive Plan (the "2006 Plan"). Under the terms of the 2006 Plan, the Board of Directors may grant up to 2,800,000 options to Directors, officers and employees with exercise prices equal to the market price of Solitario's common stock at the date of grant. Solitario accounts for its stock options under the provisions of ASC 718 “Compensation – Stock Compensation.” Pursuant to ASC 718, as of January 1, 2011, Solitario classifies its stock options as equity options in accordance with ASU 2010-13. Previously, Solitario had classified its stock options as liabilities as they are priced in Canadian dollars and Solitario’s functional currency is United States dollars and Solitario’s common stock trades on both the NYSE MKT and the Toronto Stock Exchange (“TSX”). Prior to January 1, 2011, Solitario recorded a liability for the fair value of the vested portion of outstanding options based upon a Black-Scholes option pricing model. During the year ended December 31, 2011, options for 150,600 shares were exercised at prices between Cdn$1.55 and Cdn$2.40 per share for cash proceeds of $247,000. During 2012 there were no shares exercised from the 2006 Plan. There were no options forfeited during 2012 or 2011. b.) Stock option compensation Solitario’s outstanding options on the date of grant have a five-year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. The following table shows the grant date fair value of Solitario’s options grants as of the date of grant. Grant date fair value
Grant Date | 12/16/12 | 5/5/10 | 5/19/09
Option – grant date price (Cdn$) | $1.49 | $2.40 | $1.55
Options outstanding | 165,000 | 2,065,000 | 519,000
Expected life yrs. | 5.0 | 5.0 | 5.0
Expected volatility | 68% | 56% | 56%
Risk free interest rate | 0.7% | 2.2% | 1.9%
Weighted average fair value | $0.84 | $1.19 | $0.65
Grant date fair value | $139,000 | $2,449,000 | $339,000
Solitario recorded $732,000 and $697,000, respectively, of stock option expense during 2012 and 2011 included in general and administrative expense, for the amortization of grant date fair value with a credit to additional paid-in capital. c.) Stock option activity The following table summarizes the activity for stock options outstanding under the 2006 Plan as of December 31, 2012, with exercise prices equal to the stock price, as defined, on the date of grant and no restrictions on exercisability after vesting: The activity in the 2006 Plan for the years ended December 31, 2012 and 2011 is as follows:
| 2012 | 2011
|  | Weighted |  |  | Weighted |
|  | Average | Aggregate |  | Average | Aggregate
|  | Exercise | intrinsic |  | Exercise | intrinsic
| Options | Price (Cdn$) | value(1) | Options | Price (Cdn)$ | Value(1)
2006 Plan |  |  |  |  |  |
Outstanding, beginning of year | 2,433,400 | $2.27 |  | 2,584,000 | $2.23 |
Granted | 165,000 | $1.49 |  | - |  |
Exercised | - | - |  | (150,600) | $1.60 |
Cancelled | - | - |  | - | - |
Forfeited | - | - |  | - | - |
Outstanding, end of year | 2,598,400 | $2.22 | $1,650 | 2,433,400 | $2.27 | $-
Exercisable, end of year | 1,958,400 | $2.22 | $ 413 | 1,271,150 | $2.24 | $-
(1)The intrinsic value at December 31, 2012 and 2011 based upon the quoted market price of Cdn $1.50 and Cdn $1.36, respectively, per share for our common stock on the TSX and an exchange ratio of 1.0312 and 0.9804, respectively, Canadian dollars per United States dollar.

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- Definition Tabular disclosure of the description of the plan, the basis for determining contributions, including the employee groups covered, and the nature and effect of significant matters affecting comparability of information for all periods presented. For leveraged ESOPs and pension reversion ESOPs, the disclosure may include the basis for releasing shares and how dividends on allocated and unallocated shares are used. Disclosure may also include a description of the accounting policies followed for ESOP transactions, including the method of measuring compensation, the classification of dividends on ESOP shares, and the treatment of ESOP shares for EPS computations. If the employer has both old ESOP shares for which it does not adopt the latest guidance and new ESOP shares for which the new guidance is required, the accounting policies for both blocks of shares may be described. Disclosure may also include he amount of compensation cost recognized during the period, the number of allocated shares, committed-to-be-released shares, and suspense shares held by the ESOP at the balance-sheet date, the fair value of unearned ESOP shares at the balance-sheet date for shares accounted for under the latest guidance, the existence and nature of any repurchase obligation, including disclosure of the fair value of the shares allocated as of the balance sheet date, which are subject to a repurchase obligation. + References Reference 1: 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 2: 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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