Stock-Based Compensation

3 Months Ended

Mar. 31, 2012

Share-based Compensation [Abstract]

Stock-Based Compensation

7. Stock-Based Compensation

The Company's 2006 Stock Incentive Plan, as amended and restated (the “2006 Plan”), authorizes the Company to issue up to 3,000,000 shares of common stock to employees, non-employee directors and consultants pursuant to awards of stock options, stock appreciation rights, restricted stock, in payment of performance shares or other stock-based awards. Under the 2006 Plan, stock options must be granted at a price not less than the fair market value of the stock on the date the option is granted, generally are not subject to re-pricing, and will not be exercisable more than ten years after the date of grant. Options granted under the 2006 Plan generally qualify as “non-qualified stock options” under the U.S. Internal Revenue Code. Certain options granted under the Company's 2004 Common Stock Option Plan, as amended (the “2004 Plan”), generally qualify as “incentive stock options” under the U.S. Internal Revenue Code; the exercise price of a stock option granted under this plan may not be less than the fair market value of Common Stock on the option grant date.

At March 31, 2012, the Company had 79,520stock options outstanding under the 2004 Plan and1,793,135 shares of restricted stock and stock options outstanding under the 2006 Plan.

The Company did not issue any stock option grants or restricted stock awards during the three months ended March 31, 2012.

The total compensation expense, classified within payroll and related on the condensed consolidated statements of operations, related to optionsoutstanding was $165 and $264forthe three months ended March 31, 2012 and 2011, respectively.

As of March 31, 2012, a total of $600 in unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of 2.1 years.

The total compensation expense, classified within payroll and related on the condensed consolidated statements of operations, related to restricted stock was $70and $14for the three months ended March 31, 2012 and 2011, respectively.

As of March 31, 2012, a total of $1,064 in unrecognized compensation expense related to restricted stock awards is expected to be recognized over a weighted-average period of 3.4 years.

Stock Grants

In the three months endedMarch 31, 2012, the Company issued shares of common stock to members of the Company's Board of Directors as payment of their annual and quarterly retention. The total fair value of the shares issued was expensed upon the date of grant. Total shares issued were:

Date	Number of Shares	Price Per Share		Grant Date Fair Value
January 18, 2012	10,835	$	8.69	$	94