Stock-Based Compensation

6 Months Ended

Jun. 30, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

 

8. Stock-Based Compensation

On July 7, 2005, the Company's shareholders approved the LMI Aerospace, Inc. 2005 Long-Term Incentive Plan (the "Plan").  The Plan provides for the grant of non-qualified stock options, incentive stock options, shares of restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based grants and cash bonus awards to employees and directors.  All share-based grants or awards are subject to a time-based vesting schedule.  The Company has only issued restricted stock in the periods presented.

A summary of the activity for non-vested restricted stock awards as of June 30, 2012 and changes during the six-month period is presented below:

	2012
Restricted Stock Awards	Shares			Weighted Average Grant Date Fair Value
Outstanding at January 1		278,410		$	16.42
Granted		71,588			19.35
Vested		(75,188	)		10.84
Forfeiture		(1,011	)		23.07
Outstanding at June 30		273,799		$	18.70

Common stock compensation expense related to restricted stock awards granted under the Plan was $368 and $183 for the three months ended June 30, 2012 and 2011, respectively, and $743 and $558 for the six months ended June 30, 2012 and 2011, respectively.

Total unrecognized compensation costs related to non-vested share-based compensation awards granted or awarded under the Plan were $2,335 and $1,716 at June 30, 2012 and December 31, 2011, respectively.  These costs are expected to be recognized over a weighted average period of 1.1 years and 0.8 year, respectively.