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SHARE-BASED COMPENSATION (Block)
 3 Months Ended
Mar. 31, 2013
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) 2013
             
RSUs outstanding as of: December 31, 2012   1,481,268        
RSUs awarded    298,377        
RSUs released    (240,859)        
RSUs forfeited    (11,749)        
RSUs outstanding as of: March 31, 2013   1,527,037 $ -  1.4 $ 11,819,266
RSUs vested and expected            
to vest as of:March 31, 2013   1,401,995 $ -  1.3 $ 10,178,092
RSUs exercisable (vested and             
deferred) as of:March 31, 2013   86,996 $ -  0.0 $ 673,349
Weighted average remaining             
recognition period in years   2.2        
Unamortized compensation             
expense, net of estimated           
forfeitures  $ 6,760,093        

Options

 

Option Activity

 

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

 

       
  Three Months Ended March 31,
Other Option Disclosures 2013 2012
  (amounts in thousands)
       
Intrinsic value of options exercised $ 537 $ 84
Tax benefit from options exercised (1) $ 204 $ 32
Cash received from exercise price of options exercised $ 130 $ 54

(1) Amount excludes impact from suspended income tax benefits and/or valuation allowances.

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) 2013
             
Options outstanding as of:December 31, 2012   742,550 $ 2.39     
Options granted    -        
Options exercised    (85,250)   1.52     
Options forfeited    (3,625)   1.34     
Options expired    (3,125)   9.57     
Options outstanding as of:March 31, 2013   650,550 $ 2.47 5.8 $ 3,846,225
             
Options vested and expected to vest as of:March 31, 2013   650,364 $ 2.47 5.8 $ 3,845,860
Options vested and exercisable as of:March 31, 2013   645,550 $ 2.45 5.8 $ 3,835,129
Weighted average remaining            
recognition period in years   0.5        
Unamortized compensation expense,            
net of estimated forfeitures  $ 71,570        

       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 2013 Life Price 2013 Price
$ 1.34 $ 1.34  594,675  5.9 $ 1.34  594,675 $ 1.34
$ 2.02 $ 10.90  19,000  6.4 $ 5.95  14,000 $ 6.10
$ 11.31 $ 11.69  18,875  4.5 $ 11.53  18,875 $ 11.53
$ 11.78 $ 48.21  18,000  2.9 $ 26.75  18,000 $ 26.75
$ 1.34 $ 48.21  650,550  5.8 $ 2.47  645,550 $ 2.45

Recognized Non-Cash Compensation Expense

 

       Non-cash compensation expense consisted primarily of RSU awards. The following summarizes recognized non-cash compensation expense included in the Company's line item expense for awards:

 Three Months Ended
 March 31,
 2013 2012
  (amounts in thousands)
      
Station operating expenses$ 155 $ 106
Corporate general and administrative expenses  987   1,291
Non-cash compensation expense included in operating expenses  1,142   1,397
Income tax expense  316   389
Net non-cash compensation expense$ 826 $ 1,008