EQUITY-BASED COMPENSATION

6 Months Ended

Jun. 30, 2011

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION

NOTE G — EQUITY-BASED COMPENSATION

Stock Awards

As of June 30, 2011, the Company had outstanding stock options granted under the 1992 Stock Option Plan, the 2000 Non-Qualified Stock Option Plan and the 2002 Stock Option Plan and outstanding restricted stock and restricted stock units granted under the 2005 Ownership Incentive Plan (“the 2005 Plan”). The 1992 Stock Option Plan expired on December 31, 2001. The 2005 Plan superseded the Company’s 2000 Non-Qualified Stock Option Plan and 2002 Stock Option Plan with respect to future awards and, as amended, provides for the granting of 2.2 million shares, which may be awarded as incentive and nonqualified stock options, Stock Appreciation Rights (“SARs”), restricted stock or restricted stock units. Any outstanding stock options under the 1992, 2000 or 2002 stock option plans which are forfeited or otherwise unexercised will be included in the shares available for grant under the 2005 Plan. As of June 30, 2011, the Company had not elected to treat any exercised options as employer SARs and no employee SARs had been granted. No stock options have been granted since 2004.

Restricted Stock

A summary of the Company’s restricted stock program, which consists of restricted stock and restricted stock units awarded under the 2005 Plan, is presented below:

			Weighted-Average
			Grant Date
	Shares/Units		Fair Value
Outstanding — January 1, 2011	991,685		$	29.46
Granted	316,600		$	22.60
Vested	(155,700	)	$	37.49
Forfeited	(5,647	)	$	27.48
Outstanding — June 30, 2011	1,146,938		$	26.51

Stock Options

A summary of the Company’s stock option program is presented below:

					Weighted-
					Average
			Weighted-		Remaining
	Shares		Average		Contractual	Intrinsic
	Under Option		Exercise Price		Term	Value(1)
					(Years)
Outstanding — January 1, 2011	442,357		$	27.08
Granted	—		$	—
Exercised	(34,900	)	$	24.38
Forfeited	(31,740	)	$	25.84
Outstanding — June 30, 2011(2)	375,717		$	27.43	1.6	$	600

(1) The intrinsic value for each option represents the excess, if any, of the market value of the Company’s Common Stock on June 30, 2011 over the exercise price of the option.

(2) Options outstanding at June 30, 2011 are vested and available to be exercised.