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STOCK-BASED EMPLOYEE COMPENSATION
3 Months Ended
Mar. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
STOCK-BASED EMPLOYEE COMPENSATION

7. STOCK-BASED EMPLOYEE COMPENSATION

The Company recognized $0.3 million and $0.2 million in non-cash stock-based compensation expense in each of the three month periods ended March 31, 2014 and March 31, 2013, respectively. During the first three months of 2014, the Company granted an aggregate of 456,253 shares of restricted stock at a fair market value of $3.81 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. 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 March 31, 2014 and 2013, the total compensation expense not yet recognized related to all outstanding restricted stock/unit awards was approximately $2.7 million and $2.0 million, respectively.