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Stock-Based Compensation
6 Months Ended
Jun. 30, 2011
Stock-Based Compensation  
Stock-Based Compensation

Note 2.  Stock-Based Compensation

 

The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton ("BSM") model.  The Company uses historical data among other factors to estimate the expected price volatility, the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. At June 30, 2011, the Company had one stock-based employee compensation plan. During the six months ended June 30, 2011, two employees exercised options to purchase a total of 4,500 shares of common stock.  There were no options exercised during the six months ended June 30, 2010.  There were no options granted in the six months ended June 30, 2011 or 2010.