Restricted Stock Units, Stock Options, and Stock Appreciation Rights (SARs)

6 Months Ended

Jun. 30, 2011

Restricted Stock Units, Stock Options, and Stock Appreciation Rights (SARs) [Abstract]

RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs)

12. RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs)

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
	(In thousands)
Recognition of fair value of restricted stock units, stock options, and stock appreciation rights over vesting period; and issuance of common stock	$	532	$	359	$	1,102	$	584
Contributions of stock to the Company’s 401(k) plan		606		607		1,690		1,745
Total share-based compensation expense	$	1,138	$	966	$	2,792	$	2,329

Restricted Stock Units

A summary of restricted stock unit activity for the six months ended June 30, 2011 is as follows:

						Unamortized
				Weighted Average		Compensation
				Grant-Date Fair		Expense
	Units			Value		(In thousands)
Non-vested at December 31, 2010		192,697		$	8.13
Granted		189,721		$	15.15
Forfeited		(1,056	)	$	8.11
Non-vested at June 30, 2011		381,362		$	11.62	$	3,593	(1)

¹ Expected to be recognized over the next three years.

In April 2011, 172,081 restricted stock units were granted, of which 86,052 units will vest ratably over a three-year period. The remaining 86,029 units are performance based, which will vest and pay out at the end of a three-year period if performance goals are met.

Stock Options

Information with respect to stock option activity for the six months ended June 30, 2011 is as follows:

						Weighted Average				Unamortized
				Weighted		Remaining		Aggregate		Compensation
	Stock			Average		Contractual Life		Intrinsic Value		Expense
	Options			Exercise Price		(in years)		(In thousands)		(In thousands)
Outstanding at December 31, 2010		318,590		$	18.99
Exercised		(31,200	)	$	13.53			$	86
Expired or forfeited		(66,967	)	$	16.49
Outstanding at June 30, 2011		220,423		$	20.53		5.5	$	78
Options exercisable at June 30, 2011		175,667		$	20.31		5.1	$	78	$	—

Stock Appreciation Rights

Information with respect to stock appreciation rights, or SARs, activity for the six months ended June 30, 2011 is as follows:

						Weighted Average		Aggregate		Unamortized
				Weighted		Remaining		Intrinsic		Compensation
				Average		Contractual Life		Value		Expense
	SARs			Base Price		(in years)		(In thousands)		(In thousands)
Outstanding at December 31, 2010		118,934		$	22.13
Expired		(7,200	)	$	21.14
Outstanding and exercisable at June 30, 2011		111,734		$	22.20		4.2	$	—	$	—