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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2012
STOCK-BASED COMPENSATION  
Schedule of share-based compensation, stock options, activity

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

Average

 

Aggregate

 

 

 

 

 

Average

 

Remaining

 

Intrinsic

 

 

 

 

 

Exercise

 

Contractual

 

Value

 

 

 

Shares

 

Price

 

Term

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of period

 

945,080

 

$

27.19

 

 

 

 

 

Granted

 

 

 

 

 

 

 

Exercised

 

(93,753

)

16.42

 

 

 

 

 

Forfeited

 

(80,129

)

36.06

 

 

 

 

 

Outstanding at end of period

 

771,198

 

$

27.58

 

2.22 years

 

$

1,446

 

Vested or expected to vest at end of period

 

766,785

 

$

27.65

 

2.21 years

 

$

1,407

 

Exercisable at end of period

 

727,070

 

$

28.39

 

2.15 years

 

$

1,054

 

 

Schedule of non-vested stock options activity

 

 

 

 

Weighted Average

 

 

 

 

 

Grant Date Fair Value

 

Unvested Options

 

Shares

 

(per share)

 

 

 

 

 

 

 

Unvested at January 1, 2012

 

186,914

 

$

4.77

 

 

 

 

 

 

 

Granted

 

 

 

Vested

 

(134,132

)

4.51

 

Forfeited

 

(8,654

)

13.21

 

 

 

 

 

 

 

Unvested at March 31, 2012

 

44,128

 

$

3.89

 

Schedule of share-based payment award, stock options, valuation assumptions

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31,

 

 

 

 

2012 (5)

 

2011

 

 

Expected term (1)

 

N/A

 

4 years

 

 

Expected volatility (2)

 

N/A

 

78.5%

 

 

Expected dividend yield (3)

 

N/A

 

0.2%

 

 

Risk-free interest rate (4)

 

N/A

 

1.6%

 

 

 

 

(1)                The expected term (estimated period of time outstanding) of stock options granted was estimated using the historical exercise behavior of employees.

(2)                The expected volatility was based on historical volatility for a period equal to the stock option’s expected term.

(3)                The expected dividend yield is based on the Company’s prevailing dividend rate at the time of grant.

(4)                The risk-free rate is based on the U.S. Treasury strips in effect at the time of grant equal to the stock option’s expected term.

(5)                The Company did not issue any stock options during the three months ended March 31, 2012.

Schedule of share-based compensation arrangement by share-based payment award, options, grants in period, grant date intrinsic value

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Weighted average grant date fair value of stock
options granted during the period
(1)

 

N/A

 

$

13.21

 

Total intrinsic value of options exercised (in thousands)

 

$

575

 

$

1,197

 

Total fair value of options vested (in thousands)

 

$

3,001

 

$

1,144

 

 

 

 

(1)                The Company did not issue any stock options during the three months ended March 31, 2012.

 

Schedule of share-based compensation, time-based and performance-based restricted stock awards activity

 

 

 

 

March 31, 2012

 

 

 

Restricted Stock Awards

 

 

 

Time-Based

 

Performance-Based

 

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

Average

 

 

 

Shares

 

Price

 

Shares

 

Price

 

Outstanding at beginning of period

 

1,812,890

 

$

16.79

 

480,735

 

$

22.19

 

Granted

 

18,115

 

20.98

 

465,175

 

22.05

 

Vested

 

(80,306

)

27.21

 

(90,406

)

23.11

 

Forfeited

 

(47,489

)

17.84

 

(9,898

)

22.84

 

Outstanding at end of period

 

1,703,210

 

$

16.32

 

845,606

 

$

22.01