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SHARE-BASED COMPENSATION
3 Months Ended
Mar. 31, 2014
SHARE-BASED COMPENSATION  
SHARE-BASED COMPENSATION

5.                          SHARE-BASED COMPENSATION

 

During the three-months ended March 31, 2014, the Company granted approximately 324,000 time-based and performance-based shares to certain of its employees at a weighted-average grant date fair value of $23.57.  The number of performance shares awarded represents the maximum that can be earned, and will ultimately depend on the Company’s performance.

 

Total stock-based compensation cost recognized in the condensed consolidated financial statements of operations as a component of selling, general and administrative costs was $1.8 million and $1.3 million for the three-months ended March 31, 2014 and 2013, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $11.4 million at March 31, 2014, and is expected to be recognized over a weighted-average period of 2.0 years.  Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.