v2.4.0.8

SHARE-BASED COMPENSATION (Block) | 9 Months Ended
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Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments Abstract |
Disclosure Of Compensation Related Costs Share Based Payments Text Block | 7. SHARE-BASED COMPENSATION Under the Entercom Equity Compensation Plan (the “Plan”), the Company is authorized to issue share-based compensation awards to key employees, directors and consultants. Restricted Stock Units (“RSUs”) 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 |  | September 30,
| Period Ended |  |  | Units |  | Price |  | Term (Years) |  | 2013
RSUs outstanding as of: | December 31, 2012 |  |  | 1,481,268 |  |  |  |  |  |  |  |
RSUs awarded |  |  |  | 341,377 |  |  |  |  |  |  |  |
RSUs released |  |  |  | (434,842) |  |  |  |  |  |  |  |
RSUs forfeited |  |  |  | (43,107) |  |  |  |  |  |  |  |
RSUs outstanding as of: | September 30, 2013 |  |  | 1,344,696 |  | $ | - |  | 1.1 |  | $ | 11,806,431
RSUs vested and expected |  |  |  |  |  |  |  |  |  |  |  |
to vest as of: | September 30, 2013 |  |  | 1,251,546 |  | $ | - |  | 1.1 |  | $ | 10,224,751
RSUs exercisable (vested and |  |  |  |  |  |  |  |  |  |  |  |
deferred) as of: | September 30, 2013 |  |  | 86,996 |  | $ | - |  | 0.0 |  | $ | 763,825
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 2.2 |  |  |  |  |  |  |  |
Unamortized compensation |  |  |  |  |  |  |  |  |  |  |  |
expense, net of estimated |  |  |  |  |  |  |  |  |  |  |
forfeitures |  |  | $ | 5,318,998 |  |  |  |  |  |  |  |
Options Option Activity The following table provides summary information related to the exercise of stock options:
|  | Nine Months Ended September 30,
Other Option Disclosures |  | 2013 |  | 2012
|  | (amounts in thousands)
Intrinsic value of options exercised |  | $ | 1,093 |  | $ | 446
Tax benefit from options exercised (1) |  | $ | 415 |  | $ | 169
Cash received from exercise price of options exercised |  | $ | 219 |  | $ | 120
(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 |  | September 30,
| Period Ended |  | Options |  | Price |  | Term (Years) |  | 2013
Options outstanding as of: | December 31, 2012 |  |  | 742,550 |  | $ | 2.39 |  |  |  |  |
Options granted |  |  |  | 5,000 |  |  | 8.72 |  |  |  |  |
Options exercised |  |  |  | (153,782) |  |  | 1.44 |  |  |  |  |
Options forfeited |  |  |  | (3,625) |  |  | 1.34 |  |  |  |  |
Options expired |  |  |  | (11,875) |  |  | 10.16 |  |  |  |  |
Options outstanding as of: | September 30, 2013 |  |  | 578,268 |  | $ | 2.54 |  | 5.3 |  | $ | 3,938,379
Options vested and expected to vest as of: | September 30, 2013 |  |  | 577,466 |  | $ | 2.53 |  | 5.3 |  | $ | 3,938,280
Options vested and exercisable as of: | September 30, 2013 |  |  | 571,018 |  | $ | 2.47 |  | 5.2 |  | $ | 3,932,860
Weighted average remaining |  |  |  |  |  |  |  |  |  |  |  |
recognition period in years |  |  |  | 2.7 |  |  |  |  |  |  |  |
Unamortized compensation expense, |  |  |  |  |  |  |  |  |  |  |  |
net of estimated forfeitures |  |  | $ | 27,367 |  |  |  |  |  |  |  |
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
Range Of |  | Outstanding |  | Remaining |  | Average |  | Exercisable |  | Average
Exercise Prices |  | September 30, |  | Contractual |  | Exercise |  | September 30, |  | Exercise
From |  | To |  | 2013 |  | Life |  | Price |  | 2013 |  | Price
$ | 1.34 |  | $ | 2.02 |  | 522,518 |  | 5.3 |  | $ | 1.34 |  | 522,518 |  | $ | 1.34
$ | 4.76 |  | $ | 6.62 |  | 16,000 |  | 6.0 |  | $ | 5.58 |  | 13,750 |  | $ | 5.43
$ | 8.72 |  | $ | 11.31 |  | 15,000 |  | 6.2 |  | $ | 10.39 |  | 10,000 |  | $ | 11.23
$ | 11.69 |  | $ | 11.78 |  | 15,750 |  | 4.3 |  | $ | 11.72 |  | 15,750 |  | $ | 11.72
$ | 33.90 |  | $ | 48.21 |  | 9,000 |  | 1.0 |  | $ | 37.72 |  | 9,000 |  | $ | 37.72
$ | 1.34 |  | $ | 48.21 |  | 578,268 |  | 5.3 |  | $ | 2.54 |  | 571,018 |  | $ | 2.47
Recognized Non-Cash Stock-Based Compensation Expense The following summarizes recognized non-cash stock-based compensation expense, which consists primarily of RSUs:
|  | Nine Months Ended
|  | September 30,
|  | 2013 |  | 2012
|  |  | (amounts in thousands)
Station operating expenses |  | $ | 522 |  | $ | 433
Corporate general and administrative expenses |  |  | 2,458 |  |  | 3,549
Stock-based compensation expense included in operating expenses |  |  | 2,980 |  |  | 3,982
Income tax benefit (1) |  |  | 791 |  |  | 1,119
Net stock-based compensation expense |  | $ | 2,189 |  | $ | 2,863
|  | Three Months Ended
|  | September 30,
|  | 2013 |  | 2012
|  | (amounts in thousands)
Station operating expenses |  | $ | 187 |  | $ | 169
Corporate general and administrative expenses |  |  | 695 |  |  | 1,097
Stock-based compensation expense included in operating expenses |  |  | 882 |  |  | 1,266
Income tax benefit (1) |  |  | 230 |  |  | 358
Net stock-based compensation expense |  | $ | 652 |  | $ | 908

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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 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 Reference 3: 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 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 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 8: 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. + Details
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