STOCK BASED COMPENSATION

6 Months Ended

Jun. 30, 2013

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION

NOTE 12.  STOCK BASED COMPENSATION

All of our stock based compensation to employees is recorded as selling, general and administrative expenses in our Consolidated Statements of Operations based on the fair value at the grant date of the award. These non-cash compensation costs were included in the depreciation and amortization amounts in the Consolidated Statements of Cash Flows.

A summary of stock based compensation expense is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(in thousands)				(in thousands)
Restricted stock/unit awards (“RSA”)	$	92	$	118	$	191	$	241
Performance share incentives (“PSI”)	43		66		61		101
	$	135	$	184	$	252	$	342

We did not grant any RSAs during the six months ended June 30, 2013.  We granted 18,000 RSAs during the six months ended June 30, 2012. The fair value of the 2012 grant was $0.2 million.  The deferred compensation is being amortized on a straight-line basis over the specified service period. Unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs as of June 30, 2013 and December 31, 2012, are as follows:

	June 30,		December 31,
	2013		2012
Unrecognized compensation cost, in thousands	$	755	$	945
Expected weighted-average recognition period for unrecognized compensation cost, in years	2.4		2.6

We did not grant any PSIs during the six months ended June 30, 2013 and 2012, respectively.  The deferred compensation with respect to the PSI is being recognized into earnings based on the passage of time and achievement of performance targets.  All outstanding PSIs are unvested.