STOCK COMPENSATION - OPTIONS

The Company’s 1998 Stock Incentive Plan, or the 1998 Plan, provides for the making of awards to employees, consultants, and advisors of the Company. The Non-Employee Director Stock Incentive Plan, or NDSI Plan, is intended to enable the Company to attract, retain, and motivate non-employee directors by providing for or increasing the proprietary interest of such persons in the Company.

As of December 31, 2012, there were 6,306 options vested and exercisable with a weighted-average exercise price of $27.90 and an aggregate intrinsic value of $1,000. There were no options granted in 2012, 2011, or 2010 under either the 1998 Plan or the NDSI Plan. None of the options granted under the 1998 Plan or NDSI Plan contain conversion features.

The following is a summary of the Company’s stock option activity and related information for the twelve month periods ended December 31:



	2012				2011					2010
	Options		Weighted-Average Exercise Prices Per Share		Options		Weighted-Average Exercise Prices Per Share			Options		Weighted-Average Exercise Prices Per Share
Outstanding beginning of year	66,693		$	27.32	271,858		$	25.97		354,294		$	25.18
Granted	—		—		—		—			—		—
Exercised	(13,641	)	26.52		(205,165	)	(25.57		)	(78,894	)	(22.47		)
Forfeited/Cancelled	(46,746	)	27.48		—		—			(3,542	)	(24.71		)
Outstanding end of year	6,306		$	27.90	66,693		$	27.32		271,858		$	25.97
Options exercisable end of year	6,306		$	27.90	66,693		$	27.32		271,858		$	25.97

The total intrinsic value of options exercised during the twelve months ended December 31, 2012, 2011, and 2010 were $21,000, $1,628,000 and $628,000 respectively. All options expired in January 2013.