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SHARE-BASED COMPENSATION
6 Months Ended
Jun. 30, 2014
SHARE-BASED COMPENSATION  
SHARE-BASED COMPENSATION

5.SHARE-BASED COMPENSATION

 

During the three and six-month periods ended June 30, 2014, the Company granted 26,227 and 349,993 time-based and performance-based shares to certain of its employees at a weighted-average grant date fair value of $24.82 and $23.59, respectively.  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 $1.9 million and $1.5 million for the three-month periods ended June 30, 2014 and 2013, and $3.7 million and $2.8 million for the six-month periods ended June 30, 2014 and 2013, respectively.  Total unrecognized compensation cost related to unvested share-based compensation arrangements was $12.7 million at June 30, 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.