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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2012
Stock-Based Compensation Plans  
Schedule of components of stock compensation expense

 

 

2012

 

2011

 

2010

 

 

 

(in thousands)

 

2007 Stock Incentive Plan

 

$

3,092

 

$

3,108

 

$

2,603

 

1996 Stock Option/Stock Issuance Plan

 

 

 

14

 

Employee Stock Purchase Plan

 

52

 

65

 

61

 

Total Stock Compensation Expense

 

$

3,144

 

$

3,173

 

$

2,678

 

Summary of the activity under the 1996 Plan

 

 

 

 

Options
Available
for Grant

 

Options

 

Weighted
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Term (in
years)

 

Aggregate
Intrinsic
Value

 

Outstanding as of January 1, 2010

 

 

1,019,788

 

$

6.68

 

2.53

 

$

8,486,579

 

Options exercised

 

 

(206,146

)

6.20

 

 

 

 

 

Options cancelled

 

 

(751

)

6.50

 

 

 

 

 

Outstanding as of December 31, 2010

 

 

812,891

 

$

6.80

 

1.81

 

$

5,064,940

 

Options exercised

 

 

(369,310

)

7.34

 

 

 

 

 

Options cancelled

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2011

 

 

443,581

 

$

6.35

 

1.82

 

$

2,484,009

 

Options exercised

 

 

(306,653

)

5.34

 

 

 

 

 

Options cancelled

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2012

 

 

136,928

 

$

8.60

 

2.23

 

$

781,692

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at: December 31, 2012

 

 

 

136,928

 

$

8.60

 

2.23

 

$

781,692

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at:

 

 

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

 

812,891

 

$

6.80

 

1.81

 

$

5,064,940

 

December 31, 2011

 

 

 

443,581

 

$

6.35

 

1.82

 

$

2,484,009

 

December 31, 2012

 

 

 

136,928

 

$

8.60

 

2.23

 

$

781,692

 

Summary of information concerning outstanding and exercisable options

 

 

Options Outstanding

 

Options Exercisable

 

Exercise Prices

 

Number
Outstanding

 

Weighted
Average
Remaining
Contractual
Life (in years)

 

Weighted Average
Exercise Price

 

Number
Exercisable

 

Weighted Average
Exercise Price

 

From $4.92 to $4.92

 

3,850

 

0.41

 

4.92

 

3,850

 

4.92

 

From $5.01 to $5.01

 

18,875

 

0.17

 

5.01

 

18,875

 

5.01

 

From $8.40 to $8.40

 

3,921

 

2.38

 

8.40

 

3,921

 

8.40

 

From $8.49 to $8.49

 

3,890

 

1.40

 

8.49

 

3,890

 

8.49

 

From $8.70 to $8.70

 

4,281

 

3.40

 

8.70

 

4,281

 

8.70

 

From $9.20 to $9.20

 

91,516

 

2.59

 

9.20

 

91,516

 

9.20

 

From $11.24 to $11.24

 

10,595

 

3.25

 

11.24

 

10,595

 

11.24

 

From $4.50 to $11.24

 

136,928

 

2.23

 

$

8.60

 

136,928

 

$

8.60

 

Restricted stock
 
Stock-based compensation plans  
Summary of activity under the 2007 Plan

 

 

 

 

Shares

 

Restricted stock at December 31, 2009

 

558,304

 

Granted in 2010 (vesting over 4 years)

 

190,375

 

Granted in 2010 (vesting on first anniversary from date of issuance)

 

21,635

 

Cancelled in 2010

 

 

Vested in 2010

 

(194,523

)

Restricted stock at December 31, 2010

 

575,791

 

Granted in 2011 (vesting over 4 years)

 

324,924

 

Granted in 2011 (vesting on first anniversary from date of issuance)

 

22,100

 

Cancelled in 2011

 

(27,477

)

Vested in 2011

 

(244,044

)

Restricted stock at December 31, 2011

 

651,294

 

Granted in 2012 (vesting over 4 years)

 

283,000

 

Granted in 2012 (vesting on first anniversary from date of issuance)

 

28,040

 

Cancelled in 2012

 

(8,988

)

Vested in 2012

 

(270,692

)

Restricted Stock at December 31, 2012

 

682,654

 

Summary of activity under the 2007 Plan

 

 

 

Number Outstanding

 

Weighted Average
Grant Date Fair Value

 

Aggregate Value

 

Balance as of January 1, 2010

 

558,304

 

$

11.14

 

$

6,217,214

 

Shares granted

 

212,010

 

11.19

 

2,371,619

 

Shares cancelled

 

 

 

 

Shares vested

 

(194,523

)

11.89

 

(2,312,649

)

Balance as of December 31, 2010

 

575,791

 

$

10.90

 

$

6,276,184

 

Shares granted

 

347,024

 

12.45

 

4,318,920

 

Shares cancelled

 

(27,477

)

11.34

 

(311,596

)

Shares vested

 

(244,044

)

11.14

 

(2,719,232

)

Balance as of December 31, 2011

 

651,294

 

$

11.61

 

$

7,564,276

 

Shares granted

 

311,040

 

8.55

 

2,659,170

 

Shares cancelled

 

(8,988

)

12.52

 

(112,521

)

Shares vested

 

(270,692

)

11.33

 

(3,067,357

)

Balance as of December 31, 2012

 

682,654

 

$

11.61

 

$

7,043,568