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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Changes in Stockholders' Equity
Changes in Stockholders’ Equity. Changes in stockholders’ equity for the nine months ended September 30, 2013 consisted of:
 
(Dollars
in thousands)
Balance at January 1, 2013
$
251,419

Net income for the nine months ended September 30, 2013
19,515

Cash dividends declared
(8,323
)
Amortization of stock based compensation
2,200

Issued, purchased, retired common stock, and other
(972
)
Balance at September 30, 2013
$
263,839
Activities Under Equity Plan
The following table summarizes the activities under the 2012 Equity Plan from inception through September 30, 2013:
 
Activity
Total equity securities available at May 16, 2012
2,194,986

Add: 2011 LTIP RSUs forfeited by eligible employees
126,489

Add: Restricted Stock forfeited by non-executive members of the Board of Directors
2,452

Less: 2011 LTIP RSUs awarded to eligible employees
 
Wireless operations
(392,719
)
Software operations
(164,765
)
Less: Restricted Stock awarded to non-executive members of the Board of Directors
(23,278
)
Less: Short-Term Incentive Plan (“STIP”) common stock awarded to an eligible employee
(41,702
)
Total equity securities available at September 30, 2013
1,701,463
Summary of Outstanding RSUs under 2011 LTIP
The following table details activities with respect to outstanding RSUs under the 2011 LTIP for the three months ended September 30, 2013:
 
 
Shares
 
Weighted-
Average Grant
Date Fair Value
 
Total Unrecognized Compensation Cost (net of estimated forfeitures)
(In thousands)
 
Weighted-Average
Period Over Which
Cost is  Expected to
be Recognized
(In months)
Non-vested RSUs at July 1, 2013
 
508,118

 
$
11.23

 
 
 
 
Granted
 
156,878

 
15.44

 
 
 
 
Vested
 
—

 
—

 
 
 
 
Forfeited
 
(22,414
)
 
11.20

 
 
 
 
Non-vested RSUs at September 30, 2013
 
642,582

 
$
12.26

 
$
4,598

 
15
Restricted Stock Awarded to or Vested by Non-Executive Directors
The following table details information on the restricted stock awarded to or vested by the non-executive directors in 2012 and 2013:
Service for the
three months ended
 
Grant Date
 
Price  Per
Share(1)
 
Restricted
Stock
Awarded
 
Restricted
Stock
Vested (2)
 
Vesting Date
 
Restricted Stock
Awarded and
Outstanding (2)
 
Cash
Dividends
Paid(3)
December 31, 2011
 
January 3, 2012
 
$
13.87

 
3,785

 
(3,785
)
 
January 2, 2013
 
—

 
$
2,839

March 31, 2012
 
April 2, 2012
 
13.93

 
3,769

 
(3,769
)
 
April 1, 2013
 
—

 
2,356

June 30, 2012
 
July 2, 2012
 
12.86

 
4,084

 
(4,084
)
 
July 1, 2013
 
—

 
2,042

September 30, 2012
 
October 1, 2012
 
11.87

 
5,263

 
(4,421
)
 
October 1, 2013
 
—

 
2,211

December 31, 2012
 
January 2, 2013
 
11.68

 
5,350

 
—

 
 
 
4,494

 
—

March 31, 2013
 
April 1, 2013
 
13.27

 
4,712

 
—

 
 
 
3,958

 
—

June 30, 2013
 
July 1, 2013
 
13.57

 
4,606

 
—

 
 
 
3,869

 
—

September 30, 2013
 
October 1, 2014
 
14.16

 
6,266

 
—

 
 
 
6,266

 
—

Total
 
 
 
 
 
37,835

 
(16,059
)
 
 
 
18,587

 
$
9,448

 
(1)The quarterly restricted stock awarded is based on the price per share of our common stock on the last trading day prior to the quarterly award date.
(2)The difference between restricted stock awarded and restricted stock awarded and outstanding is due to Mr. Heim's forfeitures of 2,452 restricted stock
due to his voluntary resignation to the Board.
(3)Amount excludes interest earned and paid upon vesting of shares of restricted stock.
Schedule of Stock Based Compensation Expense for Awards Under Equity Plans
The following table reflects the stock based compensation expense for the awards under the Equity Plans:
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
Equity Awards
 
2013
 
2012
 
2013
 
2012
 
 
 
 
(Dollars in thousands)
 
 
2009 LTIP
 
$
—

 
$
241

 
$
—

 
$
655

2011 LTIP - Wireless Operations
 
702

 
—

 
1,378

 
—

2011 LTIP - Software Operations
 
204

 
167

 
662

 
90

Board of Directors Compensation
 
40

 
52

 
160

 
157

Total stock based compensation
 
$
946

 
$
460

 
$
2,200

 
$
902
Cash Dividends Declared
Declaration Date
 
Record Date
 
Payment Date
 
Per Share Amount
 
Total  Payment(1)
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
March 4
 
March 15
 
March 29
 
$
0.125

 
$
2,682

 
 
 
 
 
April 26
 
 
 
1,513

(2) 
May 9
 
May 20
 
June 25
 
0.125

 
2,705

 
August 1
 
August 19
 
September 10
 
0.125

 
2,706

 
Total
 
 
 
 
 
$
0.375

 
$
9,606

 
 
 
(1) 
The total payment reflects the cash dividends paid in relation to common stock, vested restricted stock and vested RSUs.
(2) 
The payment reflects the accumulated cash dividends earned on vested RSUs associated with the 2009 LTIP.
Basic and Diluted Net Income Per Common Shares
The components of basic and diluted net income per common share were as follows for the periods stated:
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in thousands, except share and per share amounts)
Net income
 
$
5,762

 
$
8,048

 
$
19,515

 
$
24,957

Weighted average shares of common stock outstanding
 
21,629,289

 
21,973,473

 
21,653,692

 
22,069,785

Dilutive effect of restricted stock and RSUs
 
289,949

 
426,461

 
262,371

 
464,342

Weighted average shares of common stock and common stock equivalents
 
21,919,238

 
22,399,934

 
21,916,063

 
22,534,127

Net income per common share
 
 
 
 
 
 
 
 
Basic
 
$
0.27

 
$
0.37

 
$
0.90

 
$
1.13

Diluted
 
$
0.26

 
$
0.36

 
$
0.89

 
$
1.11