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STOCK-BASED EMPLOYEE COMPENSATION
9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
STOCK-BASED EMPLOYEE COMPENSATION

7. STOCK-BASED EMPLOYEE COMPENSATION

The Company recognized $0.8 million and $0.6 million in non-cash stock-based compensation expense in each of the nine month periods ended September 30, 2013 and September 30, 2012, respectively. During the first nine months of 2013, the Company granted an aggregate of 568,430 shares of restricted stock at a fair market value of $2.34 per share under its 2005 Executive Incentive Compensation Plan. The restricted shares vest in three equal installments on the first, second and third anniversaries of the grant date. During the first nine months of 2013, the Company granted 34,818 restricted stock units (“RSUs”) under its 2005 Non-Employee Directors’ Restricted Stock Plan at a fair market value of $2.59 per RSU. The RSUs vest on the date of the 2014 Annual Meeting. The unearned compensation expense is being amortized into expense on a straight-line basis over the requisite service period for the entire award. As of September 30, 2013 and 2012, the total compensation expense not yet recognized related to all outstanding restricted stock/unit awards was approximately $1.6 million and $1.2 million, respectively.