Share-Based Compensation
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Jun. 30, 2012
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Share-Based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation |
Note 2. Share-Based Compensation The following table summarizes share-based compensation expense:
In addition, $95,000 and $124,000 of costs associated with share-based compensation were included in restructuring charges during the six months ended June 30, 2012 and 2011, respectively. Restricted Stock and PBRS. The following table summarizes restricted stock and PBRS activity:
The unamortized cost of all outstanding restricted stock awards as of June 30, 2012 was $5.6 million, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately 2.3 years. During the six months ended June 30, 2012 and 2011, the Company repurchased 50,894 shares for $1.0 million and 28,627 shares for $679,000, respectively, related to tax withholding requirements on vested share-based awards. As of June 30, 2012, there were 1,055,907 total shares available for future grant. Liability-Based Awards. The following table summarizes the liability-based award activity:
As of June 30, 2012 and December 31, 2011, Viad had liabilities of $343,000 and $475,000, respectively, related to restricted stock unit and PBRS unit liability awards. A portion of the 2009 PBRS unit awards vested effective December 31, 2009 and cash payouts of $35,000 and $52,000 were distributed in January 2012 and January 2011, respectively. Similarly, a portion of the 2009 restricted stock unit awards vested in February 2012 and cash payouts of $257,000 were distributed in February 2012. As of June 30, 2012 and December 31, 2011, Viad had liabilities of $1.4 million and $714,000, respectively, related to PUP awards. There were no PUP awards which vested during the six months ended June 30, 2012 or 2011. Furthermore, there were no cash settlements of PUP awards during the six months ended June 30, 2012 or 2011. Stock Options. The following table summarizes stock option activity:
The total unrecognized cost related to non-vested stock option awards was $384,000 as of June 30, 2012, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately one year. No stock options were granted during the six months ended June 30, 2012.
In addition to the above, Viad had stock options outstanding which were granted to employees of MoneyGram International, Inc. (“MoneyGram”) prior to the spin-off of that company in 2004. As of June 30, 2012, there were 2,402 of such options both outstanding and exercisable at an exercise price of $19.57. The weighted-average remaining contractual life of these options was less than one year. No options were exercised by MoneyGram participants during the six months ended June 30, 2012. |