3. STOCKHOLDERS’ EQUITY AND EQUITY COMPENSATION PLANS

Stock Repurchase Program. We currently have a stock repurchase program, approved by our Board of Directors, authorizing us to repurchase our common stock from time-to-time as market and business conditions warrant (the “Stock Repurchase Program”). During the first quarters of 2013 and 2012, we repurchased 0.3 million shares of our common stock under the Stock Repurchase Program during both periods for $6.5 million (weighted-average price of $19.80 per share) and $5.2 million (weighted-average price of $15.84 per share), respectively. As of March 31, 2013, the total remaining number of shares available for repurchase under the Stock Repurchase Program totaled 2.3 million shares.

Stock Repurchases for Tax Withholdings. In addition to the above mentioned stock repurchases, during the first quarters of 2013 and 2012, we repurchased from our employees and then cancelled 0.2 million shares of common stock for $4.8 million and 0.2 million shares of common stock for $2.9 million, respectively, in connection with minimum tax withholding requirements resulting from the vesting of restricted common stock under our stock incentive plans.

Stock-Based Awards. A summary of our unvested restricted common stock activity during the first quarter ended March 31, 2013 is as follows (shares in thousands):


	Quarter Ended March 31, 2013

	Shares	Weighted- Average Grant Date Fair Value

Unvested awards, beginning	1,956	$ 17.63
Awards granted	894	19.47
Awards forfeited/cancelled	(11)	16.40
Awards vested	(703)	17.59

Unvested awards, ending	2,136	$ 18.42

Included in the awards granted during the quarter ended March 31, 2013, are performance-based awards for 175,384 restricted common stock shares issued to members of executive management, which vest in equal installments over three years upon meeting either pre-established financial performance objectives or pre-established stock price objectives. The performance-based awards become fully vested upon a change in control, as defined, and the subsequent involuntary termination of employment.

All other restricted common stock shares granted during the quarter ended March 31, 2013 are time-based awards, which vest annually over four years with no restrictions other than the passage of time. Certain shares of the restricted common stock become fully vested upon a change in control, as defined, and the subsequent involuntary termination of employment.

We recorded stock-based compensation expense for the first quarters of 2013 and 2012 of $3.6 million and $3.1 million, respectively.