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Treasury Stock and Share Based Awards (Tables)
 9 Months Ended
Sep. 30, 2013
Summary of Treasury Stock Activity

Below is a summary of the Company’s treasury stock activity for the nine months ended September 30, 2013:

 

     Number of
Treasury
Shares		      Cost  

Balance at January 1, 2013

      3,553,085       $ 48,482   

Restricted stock withholdings (1)

      119,197         3,464   

Restricted stock forfeitures

      21,847         —     
  

 

 

     

 

 

  

Balance at September 30, 2013

      3,694,129       $ 51,946   
  

 

 

     

 

 

  

 

(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 and restricted stock units. The Company determined the number of shares to be withheld based upon market values ranging from $27.19 to $30.23 per share.
Summary of Stock Option Activity

Stock Options – A summary of stock option activity and related information for the nine months ended September 30, 2013 is as follows:

 

     Number
of
Options		     Weighted
Average
Exercise Price		      Aggregate
Intrinsic
Value		  

Outstanding at January 1, 2013

      22,022      $ 7.63      

Exercised

      (7,438 )    $ 7.63      
  

 

 

       

Outstanding at September 30, 2013

      14,584      $ 7.63       $ 352   
  

 

 

       

 

 

  

Options exercisable at September 30, 2013

      14,584      $ 7.63       $ 352   
  

 

 

       

 

 

  
Summary of Restricted stock activity

Below is a summary of restricted stock activity for the nine months ended September 30, 2013:

 

     Shares of
Restricted
Stock		     Weighted
Average
Grant Date
Fair Value		  

Outstanding at January 1, 2013

      1,534,163      $ 18.85   

Granted

      220,526      $ 29.28   

Vested

      (461,060 )    $ 15.50   

Forfeited

      (21,847 )    $ 22.85   
  

 

 

    

Outstanding at September 30, 2013

      1,271,782      $ 21.81   
  

 

 

    

Unvested restricted stock at September 30, 2013

      1,271,782      $ 21.81   
  

 

 

    
Summary of Potential Number of Shares Vesting 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 nine months ended September 30, 2013 at each of the three target levels of financial performance (excluding forfeiture assumptions):

 

     Number of
Shares
Vesting		      Value at
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