Share-Based Compensation

6 Months Ended

Jun. 30, 2011

Share-Based Compensation [Abstract]

Share-Based Compensation

6. Share-Based Compensation

Restricted Stock Awards — Restricted stock is a grant of shares of common stock that may not be sold, encumbered or disposed of, and that may be forfeited in the event of certain terminations of employment, prior to the end of a restricted period set by the compensation committee. A participant granted restricted stock generally has all of the rights of a stockholder, unless the compensation committee determines otherwise. The following table summarizes information about restricted stock grants as of June 30, 2011:

			Estimated
			Forfeiture
Grant	Shares		Rate			Vesting Schedule
November 2008		798,450		9.2	%	3 equal annual installments commencing on October 20, 2009
November 2009		638,150		8.2	%	3 equal annual installments commencing on October 20, 2010
November 2010		404,000		8.2	%	3 equal annual installments commencing on October 20, 2011

As of June 30, 2011, there was approximately $5.8 million of unearned compensation expense related to non-vested share-based compensation arrangements granted under our equity incentive plans. This expense is subject to future adjustments for vesting and forfeitures and will be recognized on a straight-line basis over the remaining period of four months for the November 2008 awards, 16 months for the November 2009 awards and 28 months for the November 2010 awards, respectively.

The following table summarizes information about the non-vested restricted stock grants as of June 30, 2011:

				Weighted-Average
	Shares			Grant-Date Fair
	(in thousands)			Value
Nonvested at December 31, 2010		1,023		$	9.02
Granted		—			—
Vested		(11	)		2.47
Forfeited		(10	)		7.85
Nonvested at June 30, 2011		1,002		$	9.02

As of June 30, 2011, 1,703,883 shares of the 4.6 million shares authorized for issuance were available for issuance under the Fourth Amended and Restated Equity Incentive Plan, including cumulative forfeitures.