Stock-Based Compensation

6 Months Ended

Jun. 30, 2014

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

STOCK-BASED COMPENSATION

The Company has stock incentive plans for executives and eligible employees. Stock awards include stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance share units. Stock-based compensation expense for the three months ended June 30, 2014 and 2013 was $2.4 million and $1.6 million, respectively. Stock-based compensation expense for the six months ended June 30, 2014 and 2013 was $5.0 million and $2.7 million, respectively. At June 30, 2014, there was $11.8 million of unrecognized stock-based compensation cost which is expected to be recognized over a period of 1.8 years.

The following table summarizes the grants awarded during the six months ended June 30, 2014:



Grant date	Restricted stock	Grant date fair value of restricted stock		Stock options	Grant date fair value of stock options		Performance shares	Grant date fair value of performance shares
January 17, 2014	243,351	$	11.12	32,417	$	4.39	345,833	$	12.65
March 26, 2014	435,208	$	9.31	382,755	$	3.74	—	$	—

The following options and stock appreciation rights were exercised during the six months ended June 30, 2014:



Award Type	Number of Exercised Units	Weighted Average Exercised Price		Number of Exercisable Units	Weighted Average Exercisable Price
Options	—	$	—	256,927	$	28.91
Stock Appreciation Rights	—	$	—	50,209	$	14.15

- 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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