SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The Company grants employees and non-employee directors restricted stock units. Non-employee directors receive equity awards with a value of $90,000 after each annual meeting.

In June 2014, the Company began contributing Company stock to its 401(k) plan instead of cash.

The Company recognized compensation expense from share-based arrangements shown in the following table:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
	(In thousands)
Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock	$	334	$	728	$	2,450	$	2,239
Contributions of stock to the Company's 401(k) plan	677		95		1,006		2,355
Total share-based compensation expense	$	1,011	$	823	$	3,456	$	4,594

Restricted Stock Units

A summary of restricted stock award activity for the nine months ended September 30, 2014 is as follows:



	Units		Weighted Average Grant-Date Fair Value		Unamortized Compensation Expense (In thousands)
Non-vested at December 31, 2013	588,727		$	9.37
Granted	178,031		30.53
Vested	(263,864	)	11.37
Forfeited	(91,331	)	6.55
Non-vested at September 30, 2014	411,563		$	15.29	$	4,022	⁽¹⁾

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(1)	Expected to be recognized over the next three years.

Stock Options

A summary of stock option activity for the nine months ended September 30, 2014 is as follows:



	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value (In thousands)		Unamortized Compensation Expense (In thousands)
Outstanding at December 31, 2013	145,806		$	21.97
Exercised	(19,500	)	$	21.40
Expired	—		$	—
Outstanding and exercisable at September 30, 2014	126,306		$	22.06	3.5	$	1,939	$	—

There were no stock options granted during the nine months ended September 30, 2014.

SARs

A summary of SARs activity for the nine months ended September 30, 2014 is as follows:



	SARs		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value (In thousands)		Unamortized Compensation Expense (In thousands)
Outstanding at December 31, 2013	70,734		$	22.60
Exercised	(40,891	)	$	21.42
Expired	—		$	—
Outstanding and exercisable at September 30, 2014	29,843		$	24.22	1.4	$	393	$	—

There were no SARs granted during the nine months ended September 30, 2014.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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