EQUITY-BASED COMPENSATION

6 Months Ended

Jun. 30, 2012

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION

NOTE I — EQUITY-BASED COMPENSATION

Restricted Stock Units

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

	Units
Outstanding — January 1, 2012	1,157,238
Granted(1)	385,650
Vested	(211,958	)
Forfeited	—
Outstanding — June 30, 2012	1,330,930

(1)The shares granted during the period had a weighted-average grant date fair value of $14.68 per share.

Stock Options

As of June 30, 2012, the Company had not elected to treat any exercised options as employer Stock Appreciation Rights (“SARs”) and no employee SARs had been granted. No stock options have been granted since 2004.

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

					Weighted-
					Average
			Weighted-		Remaining	Intrinsic
	Shares		Average		Contractual	Value(2)
	Under Option(1)		Exercise Price		Term (Years)	($ thousands)
Outstanding — January 1, 2012	280,425		$	27.29
Granted	—		$	—
Exercised	—		$	—
Forfeited	(31,000	)	$	26.54
Outstanding — June 30, 2012	249,425		$	27.38	1.13	—

(1)Options outstanding at June 30, 2012 are vested and available to be exercised.

(2)The intrinsic value for each option represents the excess, if any, of the market value of the Company’s Common Stock on June 30, 2012 over the exercise price of the option.