Share-Based Compensation

3 Months Ended

Mar. 31, 2013

Share-Based Compensation

Share-Based Compensation

11.  Share-Based Compensation

A summary of stock option activity and related information for the three months ended March 31, 2013 is presented in the table below.

	Options	Weighted average exercise price
Outstanding, December 31, 2012	6,371	$	21.09
Granted	—	—
Exercised	6,371	$	21.09
Terminated/Cancelled	—	—
Outstanding, March 31, 2013	—	—
Exercisable, March 31, 2013	—	—

In the first quarter of 2013, we granted 33,715 shares of nonvested stock with a fair value of $36.86 per share under the Company’s 1998 Stock Incentive Plan, as amended and restated (the “SI Plan”).  The value of those shares at the grant date, aggregating $1.2 million, will generally be amortized to expense over a four year vesting period.

On April 2, 2013, we granted 1,078,674 shares of nonvested stock with a fair value of $43.19 per share under the SI Plan.  The value of those shares at the grant date, aggregating $46.6 million, will generally be amortized to expense over a four year vesting period.