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Stock-Based Compensation
6 Months Ended
Jun. 30, 2013
Stock-Based Compensation  
Stock-Based Compensation

7.             Stock-Based Compensation

 

The Company issues both restricted share and option awards to employees and non-employee directors.  Restricted share awards cliff vest on the third anniversary, while option share awards vest annually in 25% increments over four years.  Stock option grant date fair values are determined at the date of grant using a Monte Carlo option valuation model with suboptimal exercise behavior.  Changes in awards outstanding are summarized as follows:

 

 

 

Restricted shares

 

Options

 

 

 

Shares

 

Wtd Avg. Grant
Price

 

Shares

 

Wtd Avg. Ex.
Price

 

December 31, 2012

 

50

 

$

31.35

 

341

 

$

25.62

 

Granted

 

58

 

20.29

 

68

 

20.71

 

Vested or exercised

 

(7

)

42.72

 

 

 

Forfeited

 

 

 

(23

)

30.77

 

June 30, 2013

 

101

 

$

24.16

 

386

 

$

24.46