v2.4.0.6

SHARE-BASED COMPENSATION (Block) | 3 Months Ended
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Mar. 31, 2012
Disclosure Of Compensation Related Costs Sharebased Payments Abstract |
Disclosure Of Compensation Related Costs Share Based Payments Text Block | 6. 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 Plan during the current period:
|  |  |  | Number |  |  |  |  | Weighted |  | Aggregate
|  |  |  | Of |  | Weighted |  | Average |  | Intrinsic
|  |  |  | Restricted |  | Average |  | Remaining |  | Value As Of
|  |  |  | Stock |  | Purchase |  | Contractual |  | March 31,
| Period Ended |  |  | Units |  | Price |  | Term (Years) |  | 2012
RSUs outstanding as of: | December 31, 2011 |  |  | 1,860,577 |  |  |  |  |  |  |  |
RSUs awarded |  |  |  | 283,056 |  |  |  |  |  |  |  |
RSUs released |  |  |  | (127,767) |  |  |  |  |  |  |  |
RSUs forfeited |  |  |  | (1,265) |  |  |  |  |  |  |  |
RSUs outstanding as of: | March 31, 2012 |  |  | 2,014,601 |  | $ | - |  | 1.5 |  | $ | 13,074,760
RSUs vested and expected |  |  |  |  |  |  |  |  |  |  |  |
to vest as of: | March 31, 2012 |  |  | 1,837,739 |  | $ | - |  | 1.5 |  | $ | 11,362,322
RSUs exercisable (vested and |  |  |  |  |  |  |  |  |  |  |  |
deferred) as of: | March 31, 2012 |  |  | 86,996 |  | $ | - |  | 0.0 |  | $ | 564,604
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 2.2 |  |  |  |  |  |  |  |
Unamortized compensation |  |  |  |  |  |  |  |  |  |  |  |
expense, net of estimated |  |  |  |  |  |  |  |  |  |  |
forfeitures |  |  | $ | 9,045,749 |  |  |  |  |  |  |  |
Options Option Activity The following table provides summary information related to the exercise of stock options:
|  | Three Months Ended March 31,
Other Option Disclosures |  | 2012 |  | 2011
|  | (amounts in thousands)
Intrinsic value of options exercised |  | $ | 84 |  | $ | 458
Tax benefit from options exercised, before impact of |  |  |  |  |  |
any valuation allowance |  | $ | 34 |  | $ | 181
Cash received from exercise price of options exercised |  | $ | 54 |  | $ | 57
The following table presents the option activity during the current period under the Plan:
|  |  |  |  |  |  |  |  | Weighted |  | Intrinsic
|  |  |  |  |  | Weighted |  | Average |  | Value
|  |  |  |  |  | Average |  | Remaining |  | As of
|  |  | Number of |  | Exercise |  | Contractual |  | March 31,
| Period Ended |  | Options |  | Price |  | Term (Years) |  | 2012
Options outstanding as of: | December 31, 2011 |  |  | 876,025 |  | $ | 2.84 |  |  |  |  |
Options granted |  |  |  | - |  |  |  |  |  |  |  |
Options exercised |  |  |  | (40,400) |  |  | 1.34 |  |  |  |  |
Options forfeited |  |  |  | (2,750) |  |  | 1.34 |  |  |  |  |
Options expired |  |  |  | (18,750) |  |  | 28.71 |  |  |  |  |
Outstanding as of: | March 31, 2012 |  |  | 814,125 |  | $ | 2.33 |  | 6.8 |  | $ | 3,891,866
Options vested and expected to vest as of: | March 31, 2012 |  |  | 799,326 |  | $ | 2.34 |  | 6.8 |  | $ | 3,819,377
Options vested and exercisable as of: | March 31, 2012 |  |  | 573,689 |  | $ | 2.63 |  | 6.7 |  | $ | 2,707,497
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 0.9 |  |  |  |  |  |  |  |
Unamortized compensation expense, net of |  |  |  |  |  |  |  |  |  |  |  |
estimated forfeitures |  |  | $ | 114,789 |  |  |  |  |  |  |  |
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
|  |  |  |  |  | March 31, |  | Contractual |  | Exercise |  | March 31, |  | Exercise
Exercise Prices |  | 2012 |  | Life |  | Price |  | 2012 |  | Price
$ | 1.34 |  | $ | 1.34 |  | 751,875 |  | 6.8 |  | $ | 1.34 |  | 523,814 |  | $ | 1.34
$ | 2.02 |  | $ | 10.90 |  | 22,000 |  | 7.4 |  | $ | 6.01 |  | 11,500 |  | $ | 6.22
$ | 11.31 |  | $ | 11.78 |  | 27,250 |  | 5.9 |  | $ | 11.60 |  | 27,250 |  | $ | 11.60
$ | 12.08 |  | $ | 48.21 |  | 13,000 |  | 3.4 |  | $ | 33.84 |  | 11,125 |  | $ | 37.51
$ | 1.34 |  | $ | 48.21 |  | 814,125 |  | 6.8 |  | $ | 2.33 |  | 573,689 |  | $ | 2.63
Recognized Non-Cash Compensation Expense Stock-based compensation expense consisted primarily of RSU awards. The following summarizes recognized stock-based compensation expense included in the Company's line item expense related to awards of RSUs and employee stock options:
| Three Months Ended
| March 31,
| 2012 |  | 2011
|  | (amounts in thousands)
Station operating expenses | $ | 106 |  | $ | 105
Corporate general and administrative expenses |  | 1,291 |  |  | 3,035
Stock-based compensation expense included in operating expenses |  | 1,397 |  |  | 3,140
Income tax expense (net of a valuation allowance in prior years) |  | 389 |  |  | 0
Total stock-based compensation expense, net of income tax benefit | $ | 1,008 |  | $ | 3,140

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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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