Stock-based Compensation

9 Months Ended

Sep. 30, 2014

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

7. STOCK-BASED COMPENSATION

We recognize the cost of stock-based employee compensation based on the grant date fair value of those awards. The table below sets forth the total amount of stock-based compensation expense for the quarters and nine months ended September 30, 2014 and 2013.


	Quarter Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
			(Thousands of dollars)
Stock-based compensation expense:
Time-based restricted units	$	584	$	120	$	1,033	$	342
Performance-based restricted units		975		558		2,256		1,335

Total stock-based compensation expense	$	1,559	$	678	$	3,289	$	1,677

During the quarter ended September 30, 2014, 2,197 time-based restricted units and 806 performance-based restricted units were awarded to managerial employees.

During the nine months ended September 30, 2014, 138,864 time-based restricted units and 116,612 performance-based restricted units were awarded to managerial employees.

During the quarter ended September 30, 2013, 3,857 time-based restricted units and 935 performance-based restricted units were awarded to managerial employees.

During the nine months ended September 30, 2013, 5,075 time-based restricted units and 124,982 performance-based restricted units were awarded to managerial employees.

- 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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