SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2015

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.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(In thousands)
Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock	$	1,100	$	334	$	2,924	$	2,450
Contributions of stock to the Company’s 401(k) plan	842		677		2,664		1,006
Total share-based compensation expense	$	1,942	$	1,011	$	5,588	$	3,456

Restricted Stock Units

A summary of restricted stock award activity for the nine months ended September 30, 2015 is as follows:



	Units		Weighted Average Grant-Date Fair Value		Unamortized Compensation Expense (In thousands)
Non-vested at December 31, 2014	409,362		$	13.87
Granted	262,555		28.26
Vested	(247,528	)	10.53
Forfeited	(60,241	)	10.57
Non-vested at September 30, 2015	364,148		$	28.57	$	8,053	⁽¹⁾

____________________


(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, 2015 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, 2014	110,806		$	22.15
Exercised	—		—
Expired	(1,500	)	21.40
Outstanding and exercisable at September 30, 2015	109,306		$	22.16	2.4	$	—	$	—

There were no stock options granted during the nine months ended September 30, 2015.

SARs

A summary of SARs activity for the nine months ended September 30, 2015 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, 2014	16,943	$	25.44
Exercised	—	—
Expired	—	—
Outstanding and exercisable at September 30, 2015	16,943	$	25.44	0.6	$	—	$	—

There were no SARs granted during the nine months ended September 30, 2015.