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SHARE-BASED COMPENSATION (Block)
 3 Months Ended
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