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STOCK-BASED COMPENSATION
3 Months Ended
Mar. 31, 2015
STOCK-BASED COMPENSATION  
STOCK-BASED COMPENSATION

 

7. STOCK-BASED COMPENSATION

        The Company has several stock-based compensation programs. See the 2014 Annual Report on Form 10-K filed with the SEC on March 5, 2015—"Item 8. Financial Statements and Supplementary Data—Note 15, Stock-based compensation" for a discussion of these programs.

        In 2013 and 2014, the Company's Board of Directors approved performance criteria for the 2013 and 2014 sub-tranches under the 2013 Equity Incentive Plan in respect of 637,800 and 783,584 RSUs, respectively, with a weighted average per unit grant date fair value of $10.53 and $8.36, respectively. In the three months ended March 31, 2015, the Company recognized $605 of expense attributable to these RSUs related to 2013 and 2014 sub-tranches. The Company's Board of Directors has not yet determined performance criteria for the 2015 sub-tranche under the 2013 Equity Incentive Plan. The grant date will be the date when the key terms of these awards are determined and agreed with employees.

        The Company estimates that the total compensation expense related to awards approved under the 2013 Plan not yet recognized as of March 31, 2015 approximates $1.3 million, which is expected to be expensed over a weighted average period of 2.3 years.