SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2013

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

NOTE I — SHARE-BASED COMPENSATION

Restricted Stock Awards

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

	Units
Outstanding — January 1, 2013	1,281,480
Granted	—
Vested	(132,020	)
Forfeited	(1,950	)
Outstanding — June 30, 2013	1,147,510

Stock Options

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)	(in thousands)
Outstanding — January 1, 2013	240,425		$	27.40
Granted	—
Exercised	—
Forfeited	(98,000	)	24.94
Outstanding — June 30, 2013	142,425		$	29.10	0.6	—

(1) Options outstanding at June 30, 2013 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, 2013 over the exercise price of the option.

As of June 30, 2013, 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.