Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

On July 7, 2005, the Company’s shareholders approved the LMI Aerospace, Inc. 2005 Long-term Incentive Plan (the “Plan”). The Plan provides for the grant of non-qualified stock options, incentive stock options, shares of restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based grants and cash bonus awards to employees and directors. All share-based grants or awards are subject to a time-based vesting schedule.

A summary of the activity for non-vested restricted stock awards under the Plan is presented below:




Restricted Stock Awards	Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2014	219,751		$	19.74
Granted	172,611		14.07
Vested	(69,046	)	18.58
Forfeited	(34,091	)	17.95
Outstanding at September 30, 2014	289,225		$	16.85

Common stock compensation expense related to restricted stock awards granted under the Plan was $765 and $451 for the three months ended September 30, 2014 and 2013, respectively, and $1,442 and $1,204 for the nine months ended September 30, 2014 and 2013, respectively.

Total unrecognized compensation costs related to non-vested, share-based awards granted or awarded under the Plan were $2,560 and $1,857 at September 30, 2014 and December 31, 2013, respectively. These costs are expected to be recognized over a weighted average period of 1.7 years and 1.2 years, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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