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Share-Based Compensation
6 Months Ended
Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation

7. Share-Based Compensation

In February 2013, we awarded an aggregate of 183,672 restricted shares to our executive officers. Approximately 25% of the total award is made up of restricted shares subject to three-year total stockholder return (“TSR”) performance conditions, assuming target TSR is achieved. If maximum TSR is achieved, then approximately 33% of the total award will be made up of TSR restricted shares. The remaining restricted shares are performance-based awards with service-based vesting restrictions. The number of shares awarded assumes that the Company will achieve maximum TSR performance conditions. The aggregate fair market value of these shares on the grant date was $4.5 million, to be expensed over a remaining service period of approximately four years, subject to three-year TSR and other performance conditions. We recognized $701,000 in share-based compensation expense related to these grants during the six months ended June 30, 2013.