Treasury Stock and Share Based Awards (Tables)

6 Months Ended

Jun. 30, 2014

Below is a summary of the Company’s treasury stock activity for the six months ended June 30, 2014:


	Number of Treasury Shares		Cost
Balance at January 1, 2014		3,694,935	$	51,946
Restricted stock withholdings ⁽¹⁾		333,507		9,776
Restricted stock forfeitures		12,186		—

Balance at June 30, 2014		4,040,628	$	61,722

⁽¹⁾	The Company withheld shares as a result of such 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 Restricted Stock Activity

Below is a summary of restricted stock activity for the six months ended June 30, 2014:


	Shares of Restricted Stock			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2014		1,260,913		$	21.85
Granted		261,213		$	28.72
Vested		(619,307	)	$	20.50
Forfeited		(12,186	)	$	19.61

Outstanding at June 30, 2014		890,633		$	24.83

Unvested restricted stock at June 30, 2014		890,633		$	24.83

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 six months ended June 30, 2014 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%		65,832	$	1,879
at IRR of at least 10.5%		131,683	$	3,758
at IRR of at least 12.5%		197,515	$	5,637