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STOCK COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2012
STOCK COMPENSATION PLANS  
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 year

 

945,080

 

 

  $

27.19

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

Exercised

 

(161,432

)

 

16.45

 

 

 

 

 

 

 

Forfeited

 

(105,940

)

 

35.73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of year

 

677,708

 

 

  $

28.41

 

 

1.49 years

 

 

  $

412

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest at year-end

 

676,258

 

 

  $

28.46

 

 

1.48 years

 

 

  $

391

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at year-end

 

663,206

 

 

  $

28.88

 

 

1.45 years

 

 

  $

199

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

(163,758

)

 

4.48

 

Forfeited

 

(8,654

)

 

13.21

 

 

 

 

 

 

 

 

Unvested at December 31, 2012

 

14,502

 

 

$

3.00

 

 

 

 

 

 

 

 

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

 

 

 

 

Year Ended December 31,

 

 

 

2012(5)

 

2011

 

2010(5)

 

Expected term (1)

 

N/A

 

4 years

 

N/A

 

Expected volatility (2)

 

N/A

 

78.1%

 

N/A

 

Expected dividend yield (3)

 

N/A

 

0.2%

 

N/A

 

Risk-free interest rate (4)

 

N/A

 

1.6%

 

N/A

 

 

(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 years ended December 31, 2012, and December 31, 2010.

Schedule summarizing information about stock options outstanding

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

 

Weighted

 

Weighted

 

 

 

Weighted

 

 

 

Number of

 

Average

 

Average

 

Number of

 

Average

 

Range of

 

Outstanding

 

Exercise

 

Remaining

 

Exercisable

 

Exercise

 

Exercise Prices

 

Options

 

Price

 

Contractual Life

 

Options

 

Price

 

$0.00 to $4.99

 

7,765

 

$

4.25

 

3.25 years

 

 

$

 

$5.00 to $9.99

 

3,646

 

5.43

 

3.21 years

 

 

 

$10.00 to $14.99

 

9,328

 

14.87

 

2.94 years

 

6,237

 

14.84

 

$15.00 to $19.99

 

6,321

 

18.07

 

2.27 years

 

6,321

 

18.07

 

$20.00 to $24.99

 

340,697

 

21.09

 

2.13 years

 

340,697

 

21.09

 

$25.00 to $29.99

 

 

 

 

 

 

$30.00 to $34.99

 

 

 

 

 

 

$35.00 to $39.99

 

303,451

 

37.90

 

0.66 years

 

303,451

 

37.90

 

$40.00 to $44.99

 

6,500

 

40.37

 

0.66 years

 

6,500

 

40.37

 

$0.00 to $44.99

 

677,708

 

$

28.41

 

1.49 years

 

663,206

 

$

28.88

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

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

 

$

 

$

13.21

 

$

 

Total intrinsic value of options exercised (in thousands)

 

$

978

 

$

2,650

 

$

1,772

 

Total fair value of options vested (in thousands)

 

$

3,717

 

$

1,274

 

$

2,137

 

 

(1)                                        The Company did not issue any stock options during the years ended December 31, 2012, and December 31, 2010.

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

 

 

 

 

2012

 

 

 

Restricted Stock Awards

 

 

 

Time-Based

 

Performance-Based

 

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

Average

 

 

 

Shares

 

Price

 

Shares

 

Price

 

Outstanding at beginning of year

 

1,812,890

 

$

16.79

 

480,735

 

$

22.19

 

Granted

 

47,214

 

21.66

 

465,175

 

22.05

 

Vested

 

(157,074

)

22.51

 

(217,906

)

21.08

 

Forfeited

 

(190,634

)

17.46

 

(33,166

)

22.55

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of year

 

1,512,396

 

$

16.30

 

694,838

 

$

22.43