Accounting for stock-based compensation

6 Months Ended

Jun. 30, 2011

Accounting for stock-based compensation [Abstract]

Accounting for stock-based compensation

4. Accounting for stock-based compensation

Total stock-based compensation expense recognized in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2011 and 2010 was as follows (in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2011		2010		2011		2010
Stock-based compensation	$	1,993	$	4,256	$	4,701	$	8,005

The Company issued stock awards to employees during the quarter ended March 31, 2011 with two year vesting. The grant date fair value of the 1,467,500 stock options and 1,181,100 restricted stock units issued during the quarter ended March 31, 2011 were $3.7 million and $4.5 million, respectively, with a grant date fair value per share of $2.54 and $3.80, respectively.

The Company issued an immaterial number of stock awards to employees during the quarter ended June 30, 2011 with four year vesting.

As of June 30, 2011, there was $13.5 million and $16.2 million of unrecognized compensation cost related to options and restricted stock units, respectively, which are expected to be recognized over the remaining weighted average vesting period of 2.3 years.