STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2013

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

9.           STOCKHOLDERS’ EQUITY

In the three months ended March 31, 2013, 417,252 shares of restricted Common Stock vested, of which 72,594 shares were withheld by us to satisfy the employees’ tax liability resulting from the vesting of these shares, with the remaining shares being distributed to the employees and directors.  Discretionary grants of 642,000 shares of unvested restricted Common Stock were made to our employees during the three months ended March 31, 2013 as incentive-based equity compensation under the 2005 Stock Incentive Plan.

In the three months ended March 31, 2012, 193,228 shares of restricted Common Stock vested, of which 27,436 shares were withheld by us to satisfy the employees’ tax liability resulting from the vesting of these shares, with the remaining shares being distributed to the employees and directors.  During the three months we also issued 2,897 shares pursuant to stock option exercises.  Discretionary grants of 948,000 shares of unvested restricted Common Stock were made to our employees during the three months ended March 31, 2013 as incentive-based equity compensation under the 2005 Stock Incentive Plan.  We also granted 4,000 shares of restricted Common Stock during such period to new employees as part of their compensation package.