Stock-Based Compensation

3 Months Ended

Mar. 31, 2013

Stock-Based Compensation [Abstract]

STOCK-BASED COMPENSATION

5. STOCK-BASED COMPENSATION

On March 31, 2013, the Company had stock options outstanding under its 2000 Stock Option Plan, stock options and stock awards outstanding under its 2006 Incentive Compensation Plan and stock options, stock awards and stock appreciation rights (SARs) outstanding under its 2011 Incentive Compensation Plan.

Compensation (income)/expense recorded for all stock options, stock awards and SARs was as follows:

	Three Months Ended March  31
(In thousands)	2013	2012
	$(219)	$	628

Compensation income in the first quarter 2013 resulted from management’s assessment that the profitability targets for the performance stock awards that vest on December 31, 2013, would not be achieved.

Unrecognized compensation costs for stock options, stock awards and SARs were as follows:

(In thousands)	March 31, 2013		December 31, 2012
Stock options	$	1,455	$	627
Stock awards		2,749		1,669
SARs		2,414		815

The increases in unrecognized compensation costs for stock options, stock awards and SARs reflected the first quarter 2013 grants of:

	Shares
Stock options		50,087
Stock awards		46,131
SARs		88,548

The unrecognized compensation costs at March 31, 2013, are expected to be recognized over weighted-average periods of 1.60 years, 2.50 years and 1.60 years for stock options, stock awards and SARs, respectively.