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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Stock-Based Compensation  
Schedule of amounts recognized in the consolidated financial statements related to stock-based compensation

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Total cost of stock-based compensation

 

$

129,594

 

$

116,595

 

$

390,269

 

$

350,978

 

Amount of income tax benefit recognized in earnings

 

(14,590

)

(16,897

)

(58,393

)

(62,820

)

Amount charged against net income

 

$

115,004

 

$

99,698

 

$

331,876

 

$

288,158

 

Summary of the option activity

 

 

Number of
Shares

 

Weighted
Average
Exercise
Price per
Share

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic
Value

 

Outstanding at December 31, 2012

 

838,662

 

$

11.84

 

3.9

 

$

2,346,063

 

Options granted

 

10,000

 

14.16

 

0.3

 

 

 

Options cancelled/expired

 

(12,075

)

14.36

 

 

 

 

 

Options exercised

 

(49,112

)

10.32

 

 

 

 

 

Outstanding at September 30, 2013

 

787,475

 

11.93

 

3.3

 

$

1,754,035

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 30, 2013

 

626,950

 

11.32

 

2.7

 

$

1,696,384

 

Summary of the status of our unvested option shares

 

 

 

Number of
Shares

 

Weighted
Average
Grant Date
Fair Value

 

Unvested at December 31, 2012

 

209,925

 

$

4.04

 

Options granted

 

10,000

 

$

4.45

 

Options cancelled

 

(11,025

)

$

3.83

 

Options vested

 

(48,375

)

$

4.45

 

Unvested at September 30, 2013

 

160,525

 

$

3.96