STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

Recognition of Pre-Tax Compensation Expense

The Company recognized pre-tax compensation expense recorded in salaries and related in the consolidated statements of operations as follows:

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Non-vested stock, included in salaries and related	$	4,901	$	5,683	$	17,165	$	21,138
Stock options, included in salaries and related		—		—		—		51
Total	$	4,901	$	5,683	$	17,165	$	21,189

Non-Vested Stock Activity

The Company’s non-vested stock activity is as follows (shares in thousands):

	Nine months ended September 30,
	2013					2012
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		7,639		$	10.01		7,432		$	13.85
Granted RSAs		1,213		$	4.72		3,147		$	6.88
Granted RSUs		8,279		$	3.98		1,222		$	6.89
Forfeited		(718	)	$	10.09		(692	)	$	13.65
Vested		(2,963	)	$	10.15		(3,000	)	$	14.00
Non-vested at end of period		13,450		$	5.79		8,109		$	10.06

Stock Option Activity

The Company’s stock option activity is as follows (shares in thousands):

	Nine months ended September 30,
	2013					2012
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		1,029		$	29.04		1,560		$	24.10
Exercised		—		$	—		(3	)	$	9.11
Forfeited/expired/cancelled		(98	)	$	23.17		(522	)	$	14.63
Outstanding at the end of the period		931		$	29.66		1,035		$	29.01
Options exercisable at September 30, 2013		931		$	29.66		1,035		$	29.01
Aggregate intrinsic value of options exercised during the period	$	—				$	—