Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Stock-Based Compensation

Summary of Restricted Stock Awards Activity

A summary of restricted stock awards activity for the three months ended March 31, 2013 is as follows:

					Aggregate
			Weighted Average		Intrinsic
	Number		Grant Date		Value
	of Shares		Fair Value		(in thousands)
Granted and Unvested - January 1, 2013	1,141,666		$	18.12	$	15,641
Vested	(28,333	)	$	15.49	$	521
Granted	178,335		$	19.30	$	3,442
Forfeited	—		—		—
Total Granted and Unvested	1,291,668		$	18.34	$	24,929
Approved for grant	710,000		(a)		$	13,703
Total Awarded and Unvested - March 31, 2013	2,001,668		n.a.		$	38,632

(a) Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Vesting Schedule of Outstanding Unvested Restricted Stock Awards

The outstanding unvested awards at March 31, 2013 are scheduled to vest as follows, subject where applicable to the achievement of performance targets.  As described above, certain performance targets are not yet established.

	Number
Vesting Date	of Awards
2013	868,333
2014	408,335
2015	150,000
2016	165,000
2017	410,000
Total	2,001,668

Summary of Stock Option Activity

A summary of stock option activity under the plan for the three months ended March 31, 2013 is as follows:

		Weighted Average
	Number	Grant Date		Exercise
	of Shares	Fair Value		Price
Total Granted and Outstanding - January 1, 2013	1,315,465	$	9.72	$	18.91
Granted	150,000	$	9.02	$	20.33
Forfeited	—	—		—
Total Granted and Outstanding	1,465,465	$	9.65	$	19.06
Approved for grant	680,000	(a)		$	11.14
Total Awarded and Outstanding - March 31, 2013	2,145,465	n.a.		$	16.55

(a) Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Key Assumptions Used in Estimating Grant Date Fair Value of Stock Option Awards

 The fair value of this tranche was determined based on the Black Scholes option pricing model using the following key assumptions:

Risk-free interest rate	0.48%
Expected life of options	3.6 years
Expected volatility of underlying stock	51.00%
Expected quarterly dividends (per share)	$0.00