Stock

6 Months Ended

Jun. 30, 2011

Stock [Abstract]

Stock

7.  Stock-Based Compensation

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.

The Company did not make any share-based grants or awards, except for restricted stock awards as disclosed below, for the three months and six months ended June 30, 2011 and 2010, respectively.  All share-based grants or awards are subject to a time-based vesting schedule.

All outstanding stock options at December 31, 2010 were exercised on or before January 19, 2011 at an exercise price of $2.00 per share.  The aggregate intrinsic value of options exercised during the six months ended June 30, 2011 and 2010, based upon the market price on the exercise date, was approximately $126 and $239, respectively.

A summary of the activity for non-vested restricted stock awards as of June 30, 2011 and changes during the six-month period is presented below:

	2011
Restricted Stock Awards	Shares			Weighted Average Grant Date
Outstanding at January 1		320,671		$	18.45
Granted		64,366			18.38
Vested		(62,934	)		23.68
Forfeited		(10,534	)		23.07
Outstanding at June 30		311,569		$	17.23

Stock compensation expense related to restricted stock awards granted under the Plan was $183 and $450 for the three months ended June 30, 2011 and 2010, respectively, and $558 and $917 for the six months ended June 30, 2011 and 2010, respectively.

Total unrecognized compensation costs related to non-vested share-based compensation awards granted or awarded under the Plan were $2,370 and $1,781 at June 30, 2011 and December 31, 2010, respectively.  These costs are expected to be recognized over a weighted average period of 1.1 years and 1.0 years, respectively.