Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

A combined summary of activity in the Corporation’s active stock-based compensation plans is presented in the following table.



				Non-Vested Stock Awards/Stock Units Outstanding			Stock Options Outstanding
	Shares Available for Grant		Director Deferred Stock Units Outstanding	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares		Weighted- Average Exercise Price
Balance, January 1, 2014	2,862,603		33,224	199,740	$	55.32	4,738,690		$	54.35
Authorized	—		—	—	—		—		—
Granted	(100,643	)	5,643	—	—		95,000		79.16
Stock options exercised	—		—	—	—		(491,675	)	52.01
Stock awards vested	—		—	—	—		—		—
Forfeited	42,490		—	—	—		(42,490	)	56.21
Canceled/expired	—		—	—	—		—		—
Balance, September 30, 2014	2,804,450		38,867	199,740	$	55.32	4,299,525		$	55.15

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
New shares issued from available authorized shares	—		—		—		153,275
Issued from available treasury stock	106,900		587,650		491,675		1,096,599
Total	106,900		587,650		491,675		1,249,874

Proceeds from stock option exercises	$	5,464	$	30,837	$	25,573	$	65,026

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. Stock-based compensation expense was as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Stock options	$	1,877	$	1,981	$	5,401	$	5,947
Non-vested stock awards/stock units	365		344		1,097		1,033
Deferred stock units	—		—		440		330
Total	$	2,242	$	2,325	$	6,938	$	7,310

Unrecognized stock-based compensation expense at September 30, 2014 was as follows:



Stock options	$	11,997
Non-vested stock awards/stock units	1,731
Total	$	13,728

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-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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