STOCK BASED COMPENSATION

9 Months Ended

Sep. 30, 2015

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

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION

All stock based compensation to employees is recorded as "Selling, general and administrative expenses" in the Consolidated Statements of Operations based on the fair value at the grant date of the award. These non-cash compensation costs are included in the depreciation and amortization amounts in the Consolidated Statements of Cash Flows.

A summary of stock based compensation expense is as follows (in thousands):

	Three Months Ended   September 30,					Nine Months Ended   September 30,
	2015		2014			2015			2014
Restricted stock/unit awards (“RSA”)	$	63	$	109		$	264		$	327
Performance share incentives (“PSI”)	1		(170		)	(61		)	(170		)
	$	64	$	(61	)	$	203		$	157

There were no RSAs granted during the nine months ended September 30, 2015, and 2014, respectively. The deferred compensation is being amortized on a straight-line basis over the specified service period. There were no PSIs granted during the nine months ended September 30, 2015 and 2014, respectively. The deferred compensation with respect to the PSIs is being recognized into earnings based on the passage of time and achievement of performance targets. In May of 2015, 50,000 RSA shares vested. All other outstanding RSAs and PSIs are unvested.

Expected unrecognized compensation and the estimated weighted-average recognition periods with respect to the outstanding RSAs and PSIs as of September 30, 2015 and December 31, 2014, are as follows:

	September 30, 2015				December 31, 2014
	RSAs		PSIs		RSAs		PSIs
Unrecognized compensation cost (in thousands)	$	437	$	81	$	718	$	554
Expected weighted-average recognition period for unrecognized compensation    cost (in years)	1.46		0.50		1.64		2.13