2.2.0.7 false Stock-Based Compensation (Unaudited) 0210 - Disclosure - Stock-Based Compensation (Unaudited) true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Stock-Based Compensation [Abstract] 0 us-gaap_ShareBasedCompensationAbstract us-gaap true na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 STOCK-BASED COMPENSATION 1 us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="margin-left: 0%"> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"> <tr> <td width="8%"></td> <td width="92%"></td> </tr> <tr valign="top"> <td> <b><font style="font-family: 'Times New Roman', Times">NOTE 10. </font></b> </td> <td> <b><font style="font-family: 'Times New Roman', Times">STOCK-BASED COMPENSATION</font></b> </td> </tr> </table> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> During the six months ended June 30, 2010, we awarded certain employees 749,805 shares of restricted stock (“RSAs”). The RSAs will be expensed over the requisite service period, subject to an assumed 10% forfeiture rate. The terms of the RSAs include vesting provisions based solely on continued service. If the service criteria are satisfied, the awards vest during March of 2011, 2012 and 2013. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> On May 6, 2010, in accordance with our existing program for annual director compensation, we awarded 36,000 shares of restricted stock under the Directors Plan. We determined that the service vesting condition of these RSAs to be <font style="white-space: nowrap">non-substantive</font> and, in accordance with accounting principles for stock compensation, recorded the entire fair value of the award as compensation expense on the grant date. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> During the six months ended June 30, 2010, we adopted a Growth Equity Plan, which is to be used for awards pursuant to our Equity Award Plan for Employees and Officers. The Growth Equity Plan provides for the award of restricted stock units (“RSUs”) to certain employees in connection with specified growth-based acquisitions that have been completed or development projects that have commenced. We awarded certain employees 1,085,040 shares of restricted stock units under the Growth Equity Plan. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> The Growth Equity Plan provides that as of the award date of the RSUs, the Compensation Committee shall determine the net present value of cash flows for the applicable acquisitions or development projects (“Projected NPV”). Vesting of RSUs will not occur until at least three years have passed following an acquisition and upon the later of three years from the grant date or one year following the commencement of commercial operations for development projects. Upon the vesting date, the Compensation Committee will re-calculate the net present values of the cash flows (“Bring Down NPV”). If the ratio of the Bring Down NPV to the Projected NPV is greater than 95% all of the RSUs related to the particular project will vest. If the ratio is less than 95%, the number of RSUs originally issued will be proportionately reduced. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> Compensation expense related to our stock-based awards totaled $5.9 million and $9.4 million during the three and six months ended June 30, 2010, respectively, and $3.8 million and $7.7 million during the three and six months ended June 30, 2009, respectively. Compensation expense for the three months ended June 30, 2010 includes additional expense of $1.3 million resulting from the reduction of the exercise price of outstanding options as discussed below under Special Cash Dividend. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> As of June 30, 2010, we had approximately $15.9 million, $10.5 million and $2.3 million of unrecognized compensation expense related to our unvested RSAs, RSUs, and unvested stock options, respectively. We expect this compensation expense to be recognized over a weighted average period of approximately 2 years for our unvested RSAs, approximately 4 years for our unvested RSUs and approximately 2 years for our unvested stock options. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><font style="font-family: 'Times New Roman', Times">Special Cash Dividend</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> The special cash dividend described in Note 6. Changes in Capitalization was deemed an equity restructuring in accordance with accounting principles for stock compensation. The impact of the special cash dividend on the various share-based awards is as follows: </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"> <tr> <td width="3%"></td> <td width="3%"></td> <td width="94%"></td> </tr> <tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> <td> </td> <td> •  </td> <td align="left"> We reduced the exercise price of options granted under the 2004 plan by $1.50 per share. We recorded additional expense of $1.3 million during the three months ended June 30, 2010 and expect to record $0.2 million over the remaining vesting period. </td> </tr> <tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> <td> </td> <td> •  </td> <td align="left"> As contractually required by the RSA agreements, holders of unvested shares of RSAs will receive the dividend in the form of additional RSAs with the same vesting conditions as the underlying shares of RSAs to which they relate. </td> </tr> <tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff"> <td> </td> <td> •  </td> <td align="left"> As contractually required by the RSU agreements, dividends on the RSUs will be paid in cash and put into escrow, and will be subject to the same vesting criteria as the underlying shares of RSUs to which they relate. </td> </tr> </table> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. 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