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Stock-Based Compensation
9 Months Ended
Sep. 30, 2013
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

12. Stock-Based Compensation

 

As of September 30, 2013, there were 1,319,533 shares of Loral common stock available for future grant under the Company’s Amended and Restated 2005 Stock Incentive Plan. This number of common shares available would be reduced if Loral RSUs or SS/L phantom stock appreciation rights (“SS/L Phantom SARs”) are settled in Loral common stock.

 

The fair value of SS/L Phantom SARs related to Loral employees is included as a liability in our consolidated balance sheets. The payout liability reflects the increase in SS/L’s notional stock price over the base price multiplied by the number of SS/L Phantom SARs vested on the applicable vesting date, subject to adjustment. The notional stock price of SS/L was frozen as of December 31, 2011, in connection with the Sale. As of September 30, 2013 and December 31, 2012, the amount of the liability in our consolidated balance sheet related to the SS/L Phantom SARs was $0.5 million and $1.0 million, respectively. During the nine months ended September 30, 2013 and 2012, cash payments of $0.5 million and $2.0 million, respectively, for continuing operations were made related to SS/L Phantom SARs.

 

Total stock-based compensation included in income from continuing operations was nil and $0.4 million for the three months ended September 30, 2013 and 2012, respectively, and $0.5 million and $1.3 million for the nine months ended September 30, 2013 and 2012, respectively.