Stock-based Compensation

6 Months Ended

Jun. 30, 2011

Stock-based Compensation [Abstract]

Stock-based Compensation

7. Stock-based Compensation

     We recognize compensation expense for share-based payment awards made to our employees and directors including stock options and restricted shares under our 2007 Long-Term Incentive Plan and the Directors’ Restricted Stock Plan. The following table provides our stock-based compensation expense and related income tax benefit for the three-month and six-month periods ended June 30, 2011 and 2010, respectively (in thousands).

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Stock-based compensation expense, gross	$	34		$	62		$	68		$	217
Income tax benefit at our statutory rate associated with stock-based compensation		(13	)		(24	)		(27	)		(85	)
Stock-based compensation expense, net	$	21		$	38		$	41		$	132

Long-term Incentive Plan

     During the six-month periods ended June 30, 2011 and 2010, we did not grant any options to our employees to acquire our common stock. A summary of stock option activity related to our common stock for the six-month periods ended June 30, 2011 and 2010 is as follows (option amounts in thousands):

	Six Months Ended June 30,
	2011					2010
				Weighted-					Weighted-
				Average					Average
				Exercise					Exercise
	Options			Price		Options			Price
Common stock:
Stock options outstanding - beginning of period		1,005		$	7.51		1,476		$	8.28
Options expired		—		$	—		(265	)	$	10.10
Options forfeited		(1	)	$	8.61		(59	)	$	11.37
Stock options outstanding - end of period		1,004		$	7.51		1,152		$	8.29
Exercisable at end of period		1,004		$	7.51		1,142		$	7.70

     For the six-month period ended June 30, 2011, we did not have any options outstanding for our Class A common stock. As of June 30, 2011, the market price of our common stock was less than the exercise prices for all but 10,000 of our outstanding stock options. The total intrinsic value of these options was approximately $5,400.

Directors’ Restricted Stock Plan

     During the six-month periods ended June 30, 2011 and 2010, we did not grant any shares of restricted stock to our directors. The unearned compensation resulting from previous grants is being amortized as an expense over the vesting period of the restricted common stock. The total amount of unearned compensation is equal to the market value of the shares at the date of grant, net of accumulated amortization.

     The following table summarizes our non-vested restricted shares during the six-month period ended June 30, 2011 and the weighted-average fair value per share as of the date of grant (shares in thousands):

			Weighted-average
	Number of		Fair Value
	Shares		Per Share
Restricted Stock:
Non-vested common restricted shares, December 31, 2010		33	$	5.74
Granted		—		—
Vested		—		—
Non-vested common restricted shares, June 30, 2011		33	$	5.74