Restricted Stock

A summary of restricted stock granted, vested, forfeited and unvested outstanding as of, and changes made during, the three months ended March 31, 2012, is presented below (in thousands):



	Restricted Shares		Weighted Average Grant Price
Unvested restricted shares outstanding, January 1, 2012	836		$	2.15
Granted	501		3.01
Vested	(72	)	2.05
Forfeited	—		—
Unvested restricted shares outstanding, March 31, 2012	1,265		$	2.50

Restricted stock compensation expense is allocated as follows for the three months ended March 31, 2012 and 2011 (in thousands):



	Three Months Ended March 31,
	2012		2011
Global managed services	$	6	$	10
Sales and marketing	14		2
General and administrative	37		32
	$	57	$	44

The remaining unrecognized stock-based compensation expense for restricted stock at March 31, 2012 was $2,893,000, of which $330,000, representing 130,000 shares, will only be expensed upon a “change in control” and the remaining $2,563,000 will be amortized over a weighted average period of 9.0 years.

The tax benefit recognized for stock-based compensation for the three months ended March 31, 2012 was diminimus. There was no tax benefit recognized for stock-based compensation for the three months ended March 31, 2011. No compensation costs were capitalized as part of the cost of an asset.