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Share-Based Compensation
6 Months Ended
Jun. 30, 2011
Share-Based Compensation  
Share-Based Compensation
8. Share-Based Compensation

Under terms of its share-based compensation plans, Con-way grants various types of share-based compensation awards to employees and directors. The plans provide for awards in the form of stock options, nonvested stock (also known as restricted stock), performance-share plan units and stock appreciation rights ("SARs"). See Note 12, "Share-Based Compensation," of Item 8, "Financial Statements and Supplementary Data," in Con-way's 2010 Annual Report on Form 10-K for additional information concerning its share-based compensation awards.

The following expense was recognized for share-based compensation:

   
Three Months Ended
June 30,
   
Six Months Ended
June 30,
 
(Dollars in thousands)
 
2011
   
2010
   
2011
   
2010
 
                         
Salaries, wages and employee benefits
  $ 4,406     $ 3,320     $ 9,169     $ 6,895  
Deferred income tax benefit
    (1,732 )     (1,286 )     (3,576 )     (2,657 )
     Net share-based compensation expense
  $ 2,674     $ 2,034     $ 5,593     $ 4,238  

The SARs are liability-classified awards and, as a result, Con-way re-measures the fair value of the awards each reporting period until the awards are settled. At June 30, 2011 and December 31, 2010, Con-way had recognized accrued liabilities for cash-settled SARs of $4.6 million and $2.9 million, respectively, using a fair value per SAR of $18.28 and $16.41, respectively.