Stock-Based Compensation

3 Months Ended

Mar. 31, 2014

7. Stock-Based Compensation

The Company issues both restricted share and option awards to employees and non-employee directors. Restricted share awards to employees 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. Exercise Price
December 31, 2013	100		$	24.12	383		$	24.52
Granted	40		24.28		70		24.28
Vested or exercised	(17	)	36.69		(2	)	19.40
Forfeited	—		—		(5	)	24.04
March 31, 2014	123		$	22.37	446		$	24.51

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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