SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2016

NOTE H – SHARE-BASED COMPENSATION

Stock Awards

As of March 31, 2016, the Company had outstanding restricted stock units granted under the 2005 Ownership Incentive Plan (“the 2005 Plan”). The 2005 Plan, as amended, provides for the granting of 3.1 million shares, which may be awarded as incentive and nonqualified stock options, stock appreciation rights, restricted stock, or restricted stock units (“RSUs”).

Restricted Stock Units

A summary of the Company’s restricted stock unit award program is presented below:


		Units

Outstanding – January 1, 2016		1,313,550
Granted		17,500
Vested		(19,150)
Forfeited		(2,000)
Outstanding – March 31, 2016		1,309,900

The RSUs granted during the period had a weighted-average grant date fair value of $17.55 per share.