Stockholders' Equity

3 Months Ended

Mar. 31, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

Stock Award Plans

The Company has various stock plans that permit the Company to provide incentives to employees and directors of the Company in the form of equity compensation that are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011. At March 31, 2012, the Board of Directors had reserved a total of 5,218,687 shares of the Company’s common stock to provide for current and future grants under its various equity plans.

At March 31, 2012, the total compensation cost related to options, stock appreciation rights and non-vested stock granted to employees under the Company’s stock award plans but not yet recognized was approximately $5.4 million, net of estimated forfeitures of approximately $2.1 million. This cost will be amortized over a period of up to four years on a straight-line basis over the underlying estimated service periods and will be adjusted for subsequent changes in estimated forfeitures and anticipated vesting periods.

A summary of the option and stock appreciation rights activity for the three months ended March 31, 2012 is as follows:

	Number of Options/SARs	Range of Exercise Price	Weighted Average Exercise Price per Share
Outstanding, December 31, 2011	5,627,332	$1.00 - $12.55	$4.85
Granted	30,250	$0.81 - $0.81	$0.81
Exercised	-	$0.00 - $0.00	-
Forfeited	(903,676)	$1.00 - $10.24	$6.29
Outstanding, March 31, 2012	4,753,906	$0.81 - $12.55	$4.55

A summary of the restricted share grant activity for the three months ended March 31, 2012 is as follows:

	Number of Shares	Weighted Average Grant Date Fair Value per Share
Outstanding, December 31, 2011	526,588	$3.42
Granted	852,500	$0.80
Vested	(5,325)	$6.65
Forfeited	(138,400)	$2.23
Outstanding, March 31, 2012	1,235,363	$1.73

A summary of the restricted stock unit activity for the three months ended March 31, 2012 is as follows:

	Number of Restricted Shares Units	Weighted Average Grant Date Fair Value per Unit
Outstanding, December 31, 2011	988,202	$1.09
Granted	144,706	$0.85
Vested	(176,313)	$1.09
Forfeited	(85,475)	$1.09
Outstanding, March 31, 2012	871,120	$1.05

A summary of the restricted stock outstanding as of March 31, 2012 is as follows:

	Number of Shares
Time based restricted shares	170,263
Performance based restricted shares	1,065,100
Outstanding, March 31, 2012	1,235,363