Stock-Based Compensation

9 Months Ended

Sep. 30, 2011

Stock-Based Compensation [Abstract]

Stock-Based Compensation

(13)  STOCK-BASED COMPENSATION

The Company recognized the following amounts in employee stock-based compensation costs for the three and nine months ended September 30, 2011 and 2010:

	For the three months ended		For the nine months ended
	September 30,		September 30,
	2011	2010	2011	2010
	(in thousands)
Stock-based compensation cost – general and administrative expense	$            1,933	$2,179	$6,619	$6,612
Stock-based compensation cost – capitalized	$            2,188	$1,699	$6,003	$5,096

As of September 30, 2011, there was $27.5 million of total unrecognized compensation cost related to the Company's unvested stock option and restricted stock grants. This cost is expected to be recognized over a weighted-average period of 2.3 years.

The following table summarizes stock option activity for the first nine months of 2011 and provides information for options outstanding as of September 30, 2011.

		Weighted
		Average
	Number	Exercise
	of Options	Price
Outstanding at December 31, 2010	4,769,122	$16.13
Granted	21,695	41.31
Exercised	(563,356)	8.60
Forfeited or expired	(25,538)	34.84
Outstanding at September 30, 2011	4,201,923	$17.16
Exercisable at September 30, 2011	3,416,457	$12.61

The following table summarizes restricted stock activity for the nine months ended September 30, 2011 and provides information for unvested shares as of September 30, 2011.

		Weighted
		Average
	Number	Grant Date
	of Shares	Fair Value
Unvested shares at December 31, 2010	834,058	$36.24
Granted	4,965	38.35
Vested	(39,260)	38.10
Forfeited	(40,496)	36.47
Unvested shares at September 30, 2011	759,267	$36.15