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SHARE-BASED COMPENSATION (Block)
 6 Months Ended
Jun. 30, 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 June 30,
 Period Ended  Units Price Term (Years) 2012
             
RSUs outstanding as of: December 31, 2011   1,860,577        
RSUs awarded    288,056        
RSUs released    (329,755)        
RSUs forfeited    (13,014)        
RSUs outstanding as of: June 30, 2012   1,805,864 $ - 1.5 $ 10,871,301
RSUs vested and expected            
to vest as of:June 30, 2012   1,659,512 $ - 1.4 $ 9,466,549
RSUs exercisable (vested and             
deferred) as of:June 30, 2012   86,996 $ - 0.0 $ 523,716
Weighted average remaining             
recognition period in years   2.1        
Unamortized compensation             
expense, net of estimated           
forfeitures   $ 7,854,915        

Options

 

Option Activity

 

       The following table provides summary information related to the exercise of stock options:

 

       
  Six Months Ended June 30,
Other Option Disclosures 2012 2011
  (amounts in thousands)
       
Intrinsic value of options exercised $ 331 $ 512
Tax benefit from options exercised, before impact of      
any valuation allowance $ 126 $ 195
Cash received from exercise price of options exercised $ 89 $ 66

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 June 30,
 Period Ended Options Price Term (Years) 2012
             
Options outstanding as of:December 31, 2011   876,025 $ 2.84     
Options granted    -        
Options exercised    (66,600)   1.34     
Options forfeited    (8,000)   3.02     
Options expired    (19,625)   27.49     
Options outstanding as of:June 30, 2012   781,800 $ 2.35 6.5 $ 3,387,294
             
Options vested and expected to vest as of:June 30, 2012   771,400 $ 2.36 6.5 $ 3,340,847
Options vested and exercisable as of:June 30, 2012   547,989 $ 2.71 6.4 $ 2,332,714
Weighted average remaining            
recognition period in years   0.7        
Unamortized compensation expense, net of            
estimated forfeitures  $ 117,931        

       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
      June 30, Contractual Exercise June 30, Exercise
Exercise Prices 2012 Life Price 2012 Price
$ 1.34 $ 1.34  720,800  6.6 $ 1.34  496,739 $ 1.34
$ 2.02 $ 10.90  22,000  7.2 $ 6.01  12,250 $ 6.33
$ 11.31 $ 11.78  27,250  5.4 $ 11.60  27,250 $ 11.60
$ 12.08 $ 48.21  11,750  1.8 $ 36.16  11,750 $ 36.16
$ 1.34 $ 48.21  781,800  6.5 $ 2.35  547,989 $ 2.71

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:

 Six Months Ended
 June 30,
 2012 2011
  (amounts in thousands)
      
Station operating expenses$ 264 $ 327
Corporate general and administrative expenses  2,454   4,339
Stock-based compensation expense included in operating expenses  2,718   4,666
Income tax benefit  761   1,149
Total stock-based compensation expense, net of income tax benefit$ 1,957 $ 3,517

  Three Months Ended
       
  June 30,
  2012 2011
  (amounts in thousands)
       
Station operating expenses $ 158 $ 222
Corporate general and administrative expenses   1,163   1,304
Stock-based compensation expense included in operating expenses   1,321   1,526
Income tax benefit   372   1,149
Total stock-based compensation expense, net of income tax benefit $ 949 $ 377