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Stock Incentive Plans
9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Incentive Plans
7. STOCK INCENTIVE PLANS

Under the Company’s stock incentive plan, stock options, restricted stock, stock-settled stock appreciation rights (“SSARs”), performance share units and other awards may be granted to officers, employees, consultants, and non-employee directors.

 

The following table summarizes the SSARs and stock option activity for the nine-month period ended September 30, 2013

 

           Weighted      Weighted         
           Average      Average      Aggregate  
     Number     Exercise      Remaining      Intrinsic  
     of Shares     Price      Life      Value  

Outstanding at December 31, 2012

     311      $ 8.66         

Granted

     —          —           

Exercised

     —          —           

Canceled or expired

     (12     5.36         
  

 

 

         

Outstanding at September 30, 2013

     299        8.79         0.27       $ —     
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at September 30, 2013

     299      $ 8.79         0.27       $ —     
  

 

 

   

 

 

    

 

 

    

 

 

 

The following table summarizes the restricted stock unit, long-term incentive award and non-employee director stock compensation activity for the nine-month period ended September 30, 2013:

 

           Weighted  
           Average  
     Number     Grant Date  
     of Shares     Fair Value  

Nonvested at December 31, 2012

     1,292      $ 5.38   

Granted

     677        1.89   

Vested

     (972     4.50   

Canceled or expired

     (49     6.55   
  

 

 

   

Nonvested at September 30, 2013

     948      $ 3.67   
  

 

 

   

The following table summarizes the performance share unit activity for the nine-month period ended September 30, 2013:

 

           Weighted  
           Average  
     Number     Grant Date  
     of Shares     Fair Value  

Nonvested at December 31, 2012

     764      $ 4.09   

Granted

     843        1.65   

Vested

     (282     2.67   

Canceled or expired

     (130     1.96   
  

 

 

   

Nonvested at September 30, 2013

     1,195      $ 2.94   
  

 

 

   

 

The following table summarizes the assumptions used for valuation of equity instruments granted during the nine-month periods ended September 30, 2013 and 2012:

 

     Nine Months Ended  
     September 30,  
     2013     2012  

Restricted stock:

    

Risk free rate

     0.03% - 0.18     0.18% - 0.21

Quarterly dividend per share

   $ —        $ 0.05   

Expected annual forfeiture rate

     0% - 9     9

The following table provides selected information about the Company’s share-based compensation for the three and nine-month periods ended September 30, 2013 and 2012:

 

     Three Months Ended      Nine Months Ended  
     September 30,      September 30,  
     2013      2012      2013      2012  

Total compensation cost for share-based payments

   $ 550       $ 969       $ 2,268       $ 2,662   

Weighted average grant-date fair value of equity instruments granted (per share)

     2.57         2.25         1.76         2.68   

Total fair value of shares vested during the period

     111         100         4,823         2,534   

Total intrinsic value of options exercised

     —           —           —           —     

Unamortized share-based payments

     2,132         2,839         2,132         2,839   

Weighted average period (in years) to be recognized as expense

     1.9         1.3         1.9         1.3