Treasury Stock and Share Based Awards (Tables)

3 Months Ended

Mar. 31, 2013

Below is a summary of the Company’s treasury stock activity for the three months ended March 31, 2013:


	Number of Treasury Shares		Cost
Balance at January 1, 2013		3,553,085	$	48,482
Restricted stock withholdings ⁽¹⁾		112,251		3,254

Balance at March 31, 2013		3,665,336	$	51,736

⁽¹⁾	The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock. The Company determined the number of shares to be withheld based upon market values ranging from $27.19 to $29.44 per share.

Stock Option Activity

Stock Options – A summary of stock option activity and related information for the three months ended March 31, 2013 is as follows:


	Number of Options			Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at January 1, 2013		22,022		$	7.63
Exercised		(744	)	$	7.63

Outstanding at March 31, 2013		21,278		$	7.63	$	464

Options exercisable at March 31, 2013		21,278		$	7.63	$	464

Restricted stock activity

Below is a summary of restricted stock activity for the three months ended March 31, 2013:


	Shares of			Weighted Average
	Restricted			Grant Date
	Stock			Fair Value
Outstanding at January 1, 2013		1,534,163		$	18.85
Granted		185,821		$	29.44
Vested		(408,140	)	$	14.91

Outstanding at March 31, 2013		1,311,844		$	21.58

Unvested restricted stock at March 31, 2013		1,311,844		$	21.58

Number of Shares Vested under Restricted Stock Unit Awards

Below is a table summarizing the potential number of shares that could vest under restricted stock unit awards granted during the three months ended March 31, 2013 at each of the three target levels of financial performance (excluding forfeiture assumptions):


	Number of
	Shares		Value at
	Vesting		Grant
at IRR of at least 8.5%		38,366	$	1,129
at IRR of at least 10.5%		76,741	$	2,259
at IRR of at least 12.5%		115,107	$	3,389

- Definition

Tabular disclosure of an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation.

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