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Common Stock and Stock Option Plans

6 Months Ended

Jun. 30, 2011

Common Stock and Stock Option Plans

5. Common Stock and Stock Option Plans

Share-Based Compensation

There were no grants of restricted stock or stock options during the three or six months ended June 30, 2010 or 2011.

Stock-based compensation expense for non-employee directors and employees during the three months ended June 30, 2010 and 2011 was $0.5 million and $0.8 million, respectively. Stock-based compensation expense for non-employee directors and employees during each of the six months ended June 30, 2010 and 2011 was $1.7 million. The following table sets forth certain information related to our unrecognized compensation for our outstanding stock-based awards as of June 30, 2011:

		Weighted Average Remaining Recognition Period		Unrecognized Compensation
		(in years)		(000’s)

Stock Option Awards		1.4		$ 1,275
Restricted Stock Awards		1.7		$ 3,617

Changes in options outstanding under our stock option plans are presented below (in thousands, except exercise price per share data):

		Outstanding Options		Weighted Average Exercise Price Per Share		Number of Shares Exercisable		Aggregate Intrinsic Value

Balance at December 31, 2010		2,717		$ 9.55		1,310		$ 91
Granted		—		—
Forfeited		—		—
Expired		—		—
Exercised		(67)		$ 2.52
Balance at June 30, 2011		2,650		$ 9.73		1,243		$ 17

No stock options were exercised during the three or six months ended 2010. During the three and six months ended June 30, 2011, 67,000 stock options were exercised.

The weighted-average remaining contractual terms and weighted-average exercise prices of our outstanding stock options at June 30, 2011 (grouped by range of exercise prices) were:

	Number of Options		Number of Vested Options		Weighted-Average Remaining Contractual Term		Weighted-Average Exercise Price		Weighted-Average Exercise Price (Vested Only)
	(In 000’s)		(In 000’s)		(In years)
	(In 000’s)		(In 000’s)		(In years)
$2.75 - $3.00	93		93		8.1		$ 2.75		$ 2.75
$3.01 - $4.52	373		373		1.3		$ 3.46		$ 3.46
$4.53 - $6.79	168		168		3.8		$ 5.92		$ 5.92
$6.80 - $10.20	937		—		4.2		$ 7.69		$ —
$10.21 - $15.31	584		114		5.1		$ 11.94		$ 11.47
$15.32 - $18.36	495		495		4.0		$ 18.27		$ 18.27
	2,650		1,243		4.1		$ 9.73		$ 10.38

A summary of the activity related to our unvested restricted stock awards during the six months ended June 30, 2011 was as follows:

		Number of Shares		Weighted-Average Grant-Date Fair Value per Share
		(In 000’s)
Unvested at December 31, 2010		1,327		$ 8.14
Granted		—		—
Vested		—		—
Forfeited		—		—
Unvested at June 30, 2011		1,327		$8.14

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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