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SHARE-BASED COMPENSATION (Block) | 9 Months Ended
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Sep. 30, 2011
Disclosure Of Compensation Related Costs Sharebased Payments Abstract |
Disclosure Of Compensation Related Costs Share Based Payments Text Block | 11. SHARE-BASED COMPENSATION Equity Compensation Plan Under the Entercom Equity Compensation Plan (the “Plan”), the Company is authorized to issue share-based compensation awards to key employees, directors and consultants. RSU Activity The following is a summary of the changes in RSUs under the Company's Plan during the current period:
|  |  |  | Number |  |  |  |  | Weighted |  | Aggregate
|  |  |  | Of |  | Weighted |  | Average |  | Intrinsic
|  |  |  | Restricted |  | Average |  | Remaining |  | Value As Of
|  |  |  | Stock |  | Purchase |  | Contractual |  | September 30,
| Period Ended |  |  | Units |  | Price |  | Term (Years) |  | 2011
RSUs outstanding as of: | December 31, 2010 |  |  | 2,329,174 |  |  |  |  |  |  |  |
RSUs awarded |  |  |  | 445,213 |  |  |  |  |  |  |  |
RSUs released |  |  |  | (868,211) |  |  |  |  |  |  |  |
RSUs forfeited |  |  |  | (23,057) |  |  |  |  |  |  |  |
RSUs outstanding as of: | September 30, 2011 |  |  | 1,883,119 |  | $ | - |  | 1.7 |  | $ | 9,886,375
RSUs vested and expected |  |  |  |  |  |  |  |  |  |  |  |
to vest as of: | September 30, 2011 |  |  | 1,698,384 |  | $ | - |  | 1.7 |  | $ | 8,459,788
RSUs exercisable (vested and |  |  |  |  |  |  |  |  |  |  |  |
deferred) as of: | September 30, 2011 |  |  | 86,996 |  | $ | - |  | 0.0 |  | $ | 456,729
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 2.3 |  |  |  |  |  |  |  |
Unamortized compensation |  |  |  |  |  |  |  |  |  |  |  |
expense, net of estimated |  |  |  |  |  |  |  |  |  |  |
forfeitures |  |  | $ | 10,016,230 |  |  |  |  |  |  |  |
Options Option Activity The following table presents for the periods indicated: (1) the intrinsic value of options exercised; (2) cash received from options exercised; and (3) the tax benefit from options exercised, before the impact of a valuation allowance:
|  | Nine Months Ended September 30,
Other Option Disclosures |  | 2011 |  | 2010
|  | (amounts in thousands)
Intrinsic value of options exercised |  | $ | 520 |  | $ | 811
Tax benefit from options exercised, before impact of |  |  |  |  |  |
valuation allowance |  | $ | 198 |  | $ | 320
Cash received from exercise price of options exercised |  | $ | 69 |  | $ | 115
The following table presents the option activity during the current period under the Company's stock option plan:
|  |  |  |  |  |  |  |  | Weighted |  | Intrinsic
|  |  |  |  |  | Weighted |  | Average |  | Value
|  |  |  |  |  | Average |  | Remaining |  | As of
|  |  | Number of |  | Exercise |  | Contractual |  | September 30,
| Period Ended |  | Options |  | Price |  | Term (Years) |  | 2011
Options outstanding as of: | December 31, 2010 |  |  | 983,150 |  | $ | 3.02 |  |  |  |  |
Options granted |  |  |  | - |  |  | - |  |  |  |  |
Options exercised |  |  |  | (51,750) |  |  | 1.34 |  |  |  |  |
Options forfeited |  |  |  | (24,530) |  |  | 1.52 |  |  |  |  |
Options expired |  |  |  | (13,345) |  |  | 25.62 |  |  |  |  |
Outstanding as of: | September 30, 2011 |  |  | 893,525 |  | $ | 2.82 |  | 7.2 |  | $ | 3,212,430
Options vested and expected to vest as of: | September 30, 2011 |  |  | 863,656 |  | $ | 2.86 |  | 7.2 |  | $ | 3,101,022
Options vested and exercisable as of: | September 30, 2011 |  |  | 397,484 |  | $ | 4.29 |  | 7.0 |  | $ | 1,353,818
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 1.4 |  |  |  |  |  |  |  |
Unamortized compensation expense, net of |  |  |  |  |  |  |  |  |  |  |  |
estimated forfeitures |  |  | $ | 276,376 |  |  |  |  |  |  |  |
The following table summarizes significant ranges of outstanding and exercisable options as of the current period:
|  |  |  |  |  | Options Outstanding |  | Options Exercisable
|  |  |  |  |  | Number Of |  | Weighted |  |  |  |  | Number Of |  |  |
|  |  |  |  |  | Options |  | Average |  | Weighted |  | Options |  | Weighted
|  |  |  |  |  | Outstanding |  | Remaining |  | Average |  | Exercisable |  | Average
|  |  |  |  |  | September 30, |  | Contractual |  | Exercise |  | September 30, |  | Exercise
Exercise Prices |  | 2011 |  | Life |  | Price |  | 2011 |  | Price
$ | 1.34 |  | $ | 1.34 |  | 819,650 |  | 7.4 |  | $ | 1.34 |  | 345,028 |  | $ | 1.34
$ | 2.02 |  | $ | 12.08 |  | 52,375 |  | 7.0 |  | $ | 9.16 |  | 30,956 |  | $ | 9.80
$ | 33.90 |  | $ | 47.77 |  | 8,500 |  | 2.9 |  | $ | 36.86 |  | 8,500 |  | $ | 36.86
$ | 48.00 |  | $ | 48.21 |  | 13,000 |  | 0.6 |  | $ | 48.03 |  | 13,000 |  | $ | 48.03
|  |  |  |  |  | 893,525 |  | 7.2 |  | $ | 2.82 |  | 397,484 |  | $ | 4.29
Valuation Of Options The fair value of each option grant, using the Black-Scholes option-pricing model, was esti mated on the date of each grant. The following table presents the range of the assumptions used to determine the fair value over the periods indicated:
| Nine Months Ended September 30,
| 2011 |  | 2010
Expected life (years) | no options issued |  | 6.3
Expected volatility factor (%) | no options issued |  | 69.2%
Risk-free interest rate (%) | no options issued |  | 3.0%
Expected dividend yield (%) | no options issued |  | 0.0%
Recognized Non-Cash Compensation Expense The following summarizes recognized stock-based compensation expense related to awards of RSUs and employee stock options:
|  | Nine Months Ended
|  | September 30,
|  | 2011 |  | 2010
|  |  | (amounts in thousands)
Station operating expenses |  | $ | 550 |  | $ | 965
Corporate general and administrative expenses |  |  | 5,676 |  |  | 3,349
Stock-based compensation expense included in operating expenses |  |  | 6,226 |  |  | 4,314
Income tax benefit (net of a fully reserved valuation allowance for prior year) |  |  | (1,613) |  |  | -
Total |  | $ | 4,613 |  | $ | 4,314
|  | Three Months Ended
|  | September 30,
|  | 2011 |  | 2010
Station operating expenses |  | $ | 223 |  | $ | 397
Corporate general and administrative expenses |  |  | 1,337 |  |  | 815
Stock-based compensation expense included in operating expenses |  |  | 1,560 |  |  | 1,212
Income tax benefit (net of a fully reserved valuation allowance for prior year) |  |  | (464) |  |  | -
Total |  | $ | 1,096 |  | $ | 1,212
For all of the above periods, stock-based compensation expense consisted primarily of RSU awards. Windfall Tax Benefit Or Paid-In Capital Pool Account A deferred tax asset is recorded as a result of recognizing share-based compensation expense. A current income tax deduction arises at the time an RSU vest s (together with any applicable dividend equivalent payment s) and/or a stock option is exercised. If the current income tax deduction is greater than the associated deferred tax asset, the difference creates a windfall tax benefit, which is recorded in financing activities in the c onsolidated s tatement of c ash f lows. A windfall tax benefit is not recognized for book purposes, however, until it is realized. In the event the current income tax deduction is less than the associated deferred tax asset, the difference is charged to the windfall tax benefit account; otherwise, the shortfall is charged to income tax expense (before a valuation adjustment, if applicable). The amount of the Company's windfall tax benefit account was $1.3 million as of September 30, 2011. Based upon outstanding awards, this amount will be available in the windfall tax benefit account to absorb any future shortfall s.

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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 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 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. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 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 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 7: 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 8: 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 + Details
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