STOCK BASED COMPENSATION

12 Months Ended

Dec. 31, 2012

STOCK BASED COMPENSATION [Abstract]

STOCK BASED COMPENSATION

14.  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.

All outstanding stock options were exercisable at December 31, 2010 and were exercised on or before January 19, 2011 at an exercise price of $2.00 per share. The aggregate intrinsic value of options exercised during the years ended December 31, 2011 and 2010, based upon the market price on exercise date, were $126 and $239, respectively.

A summary of the activity for non-vested restricted stock awards under the Company's share-based compensation plans is presented below:

	2012
Restricted Stock Awards	Shares			Weighted Average Grant Date Fair Value
Outstanding at January 1		278,410		$	16.42
Granted		108,646			19.19
Vested		(185,307	)		15.43
Forfeited		(11,921	)		19.83
Outstanding at December 31		189,828		$	18.76

Common stock compensation expense related to restricted stock awards granted under the Plan was $1,494, $1,254 and $1,794 for the years ended December 31, 2012, 2011 and 2010, respectively. Total unrecognized compensation costs related to non-vested share-based awards granted or awarded under the Plan were $2,071 and $1,716 as of December 31, 2012 and 2011, respectively. These costs are expected to be recognized over a weighted average period of 1.6 and 0.8 years as of December 31, 2012 and 2011, respectively. The fair value of restricted stock awards that vested during the years ended December 31, 2012, 2011 and 2010, based on the market price on the vesting date, was $3,199, $2,149 and $835, respectively.