Stock-Based Compensation

12 Months Ended

Dec. 31, 2012

Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]

Stock-Based Compensation

Stock Based Compensation:

The following table presents a summary of restricted stock and units activity during the periods:

	Shares		Weighted Average Grant Price
Balance, January 1, 2010	4,000		$	619.55
Granted	488,040		16.39
Vested	(121,935	)	23.05
Expired	0		0.00
Forfeited	(1,300	)	723.41
Outstanding, December 31, 2010	368,805		$	18.24
Balance, January 1, 2011	368,805		$	18.24
Granted	130,021		17.18
Vested	(163,680	)	18.50
Expired	0		0.00
Forfeited	(33,773	)	16.63
Outstanding, December 31, 2011	301,373		$	17.82
Balance, January 1, 2012	301,373		$	17.82
Granted	305,157		20.06
Vested	(142,727	)	19.44
Expired	0		0.00
Forfeited	(78,290	)	17.02
Outstanding, December 31, 2012	385,513		$	19.16

The following table presents a summary of stock option activity during the periods:

	Shares		Weighted Average Exercise Price
Balance, January 1, 2010	28,932		$	1,390.07
Granted	0		0.00
Exercised	0		0.00
Expired	(9,195	)	1,449.05
Forfeited	(817	)	1,469.48
Outstanding, December 31, 2010	18,920		$	1,357.97
Exercisable, December 31, 2010	14,655		$	1,497.94
Balance, January 1, 2011	18,920		$	1,357.97
Granted	0		0.00
Exercised	0		0.00
Expired	(2,600	)	1,231.98
Forfeited	(520	)	903.92
Outstanding, December 31, 2011	15,800		$	1,393.65
Exercisable, December 31, 2011	14,011		$	1,507.87
Balance, January 1, 2012	15,800		$	1,393.65
Granted	0		0.00
Exercised	0		0.00
Expired	(1,211	)	1,362.40
Forfeited	(2,190	)	1,184.58
Outstanding, December 31, 2012	12,399		$	1,433.63
Exercisable, December 31, 2012	11,996		$	1,447.69

The following table presents the weighted average remaining contractual life and the aggregate intrinsic value for stock options as of the dates indicated:

	Stock Options
	Outstanding			Exercisable
	Weighted Average Life	Intrinsic Value		Weighted Average Life	Intrinsic Value
December 31, 2012	1.3 years	$	0	1.2 years	$	0
December 31, 2011	2.1 years	0		2.1 years	0

As of December 31, 2012, a total of 5,382,896 shares remained available for grant under Sterling’s 2003, 2007 and 2010 Long-Term Incentive Plans. The stock options granted under these plans have terms of four, six, eight and 10 years. Stock based compensation expense recognized during the periods presented was as follows:

	Years Ended December 31,
	2012		2011		2010
	(in thousands)
Stock options	$	43	$	268	$	728
Restricted stock	3,765		3,595		2,435
Total	$	3,808	$	3,863	$	3,163

As of December 31, 2012, unrecognized equity compensation expense totaled $5.4 million as the underlying outstanding awards had not yet been earned. This amount will be recognized over a weighted average period of 2.1 years.