STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2014

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,
	2014		2013		2014		2013
Non-vested stock, included in salaries and related	$	6,682	$	4,901	$	23,918	$	17,165

Non-Vested Stock Activity

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

	Nine months ended September 30,
	2014					2013
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		13,142		$	5.58		7,639		$	10.01
Granted RSAs		—		$	—		1,213		$	4.72
Granted RSUs		550		$	5.75		8,279		$	3.98
Forfeited		(372	)	$	5.52		(718	)	$	10.09
Vested		(2,280	)	$	9.53		(2,963	)	$	10.15
Non-vested at end of period		11,040		$	4.71		13,450		$	5.79

Stock Option Activity

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

	Nine months ended September 30,
	2014					2013
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		928		$	29.68		1,029		$	29.04
Exercised		—		$	—		—			—
Forfeited/expired/cancelled		(379	)	$	24.62		(98	)	$	23.17
Outstanding at end of the period		549		$	32.99		931		$	29.66
Options exercisable at end of period		549		$	32.99		931		$	29.66
Aggregate intrinsic value of options exercised during the period	$	—				$	—