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Stock-Based Compensation Plans
 3 Months Ended
Mar. 31, 2013
Stock-Based Compensation Plans [Abstract]  
Stock-Based Compensation Plans

(9)  Stock-based Compensation Plans

 

The Company records stock-based compensation expense in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income. Stock-based compensation expense for the quarter ended March 31, 2013 and 2012 was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended March 31,

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

 

 

 

 

 

 

Restricted stock awards

 

$
2,221 

 

$
1,176 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The number of shares of restricted common stock awarded and the weighted average fair value per share during the quarter ended March 31, 2013 and 2012 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended March 31,

 

 

 

 

2013

 

 

2012

 

(in thousands, except per share amounts)

 

 

Shares Awarded

 

Weighted Average Fair Value

 

 

Shares Awarded

 

Weighted Average Fair Value

 

Restricted stock awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted under the 2004 Incentive Stock Plan

 

 

228

 

$
36.47 

 

 

140

 

$
10.40 

 

Granted under the 2004 Restricted Stock Plan for Non-Employee Directors

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 Total restricted stock awards

 

 

228

 

$
36.47 

 

 

140

 

$
10.40 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the three months ended March 31, 2013, the Company granted restricted stock awards covering 228 shares of common stock pursuant to the Company’s 2004 Incentive Stock Plan.  Of the 228 shares granted in the first three months of 2013, 27 of the shares were awarded to executive officers of the Company.  Additionally, of the 228 shares granted in the first three months of 2013, 178 remained subject to acceptance at March 31, 2013.  In the first three months of 2012, the Company granted restricted stock awards covering 140 shares of common stock pursuant to the Company’s 2004 Incentive Stock Plan; none of which were awarded to executive officers of the Company.

 

In the first three months of 2013 and 2012, respectively, the Company granted no shares of common stock pursuant to the Company’s 2004 Restricted Stock Plan for Non-Employee Directors. Stock compensation expense for Non-Employee Directors for the first three months of 2013 and 2012 was zero.