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Stock Option Plans And Warrants (Tables)
9 Months Ended
Sep. 30, 2011
Stock Option And Restricted Stock Units Activity

A summary of the Company’s stock option and restricted stock units activity, and related information for the three month periods ended March 31, 2011, June 30, 2011 and September 30, 2011 is as follows:

 

Total Options

  

Number of

Options

   

Weighted-

Average

Exercise Price

 

Outstanding at January 1, 2011

     1,300,400      $ 29.06   

Granted

     82,000      $ 23.06   

Exercised

     (13,063   $ 5.02   

Forfeited

     (16,833   $ 27.75   
  

 

 

   

 

 

 

Outstanding at March 31, 2011

     1,352,504      $ 28.65   

Exercisable at March 31, 2011

     1,080,512      $ 29.43   

Outstanding at April 1, 2011

     1,352,504      $ 28.65   

Granted

     79,250      $ 11.02   

Exercised

     (5,062   $ 1.13   

Forfeited

     (21,825   $ 27.37   
  

 

 

   

 

 

 

Outstanding at June 30, 2011

     1,404,867      $ 27.77   

Exercisable at June 30, 2011

     1,111,625      $ 29.12   

Outstanding at July 1, 2011

     1,404,867      $ 27.77   

Granted

     0      $ 0   

Exercised

     0      $ 0   

Forfeited

     0      $ 0   
  

 

 

   

 

 

 

Outstanding at September 30, 2011

     1,404,867      $ 27.77   

Exercisable at September 30, 2011

     1,111,625      $ 29.12   

 

Nonvested restricted stock units

  

Number of

Restricted

Stock Units

   

Weighted-

Average Grant

Date Fair

Value

 

Nonvested at January 1, 2011

     79,150      $ 35.82   

Granted

     378      $ 25.55   

Vested

     (20,223   $ 30.42   

Forfeited

     (4,329   $ 16.04   
  

 

 

   

 

 

 

Nonvested at March 31, 2011

     54,976      $ 37.96   

Nonvested at April 1, 2011

     54,976      $ 37.96   

Granted

     28,685      $ 11.53   

Vested

     (3,679   $ 60.59   

Forfeited

     (364   $ 32.06   
  

 

 

   

 

 

 

Nonvested at June 30, 2011

     79,618      $ 27.42   

Nonvested at July 1, 2011

     79,618      $ 27.42   

Granted

     67,940      $ 10.63   

Vested

     (6,987   $ 69.35   

Forfeited

     0      $ 0   
  

 

 

   

 

 

 

Nonvested at September 30, 2011

     140,571      $ 17.22   

 

Nonvested restricted stock

   Number of
Restricted
Stock
    Weighted-
Average  Grant
Date Fair
Value
 

Nonvested at January 1, 2011

     46,001      $ 29.84   

Granted

     40,035      $ 22.86   

Vested

     (1,000   $ 35.01   

Forfeited

     (7,501   $ 29.73   
  

 

 

   

 

 

 

Nonvested at March 31, 2011

     77,535      $ 26.18   

Nonvested at April 1, 2011

     77,535      $ 26.18   

Granted

     7,583      $ 11.25   

Vested

     0      $ 0.00   

Forfeited

     0      $ 0.00   
  

 

 

   

 

 

 

Nonvested at June 30, 2011

     85,118      $ 24.85   

Nonvested at July 1, 2011

     85,118      $ 24.85   

Granted

     0      $ 0   

Vested

     0      $ 0   

Forfeited

     0      $ 0   
  

 

 

   

 

 

 

Nonvested at September 30, 2011

     85,118      $ 24.85   
Schedule Of Weighted-Average Assumptions

The following weighted-average assumptions were used in the calculation of fair value:

 

     Nine months ended September 30,  
     2011     2010  

Fair Value

   $ 7.60      $ 12.57   

Dividend Yield

     0     0

Expected Volatility

     66.1     68.2

Weighted Average Volatility

     66.1     68.2

Risk Free Interest Rate

     0.3     0.3% - 0.5

Expected Life of Options from Grant

     3.2        3.2