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Share-Based Compensation
 9 Months Ended
Sep. 30, 2012
Share-based Compensation [Abstract]  
Share-Based Compensation
Share-Based Compensation
As of September 30, 2012, there were two share-based compensation plans under which the Company has outstanding awards or can elect to make awards. The CBL & Associates Properties, Inc. 2012 Stock Incentive Plan ("the 2012 Plan") was approved by our shareholders in May 2012. The CBL & Associates Properties, Inc. Second Amended and Restated Stock Incentive Plan ("the 1993 Plan"), which was approved by our shareholders in May 2003, will expire in May 2013. The 2012 Plan is intended to replace the 1993 Plan under which the Company grants equity awards and the Company will not issue any new awards under the 1993 Plan.
Share-based compensation expense was $467 and $252 for the three months ended September 30, 2012 and 2011, respectively and $1,974 and $1,708 for the nine months ended September 30, 2012 and 2011, respectively. Share-based compensation cost capitalized as part of real estate assets was $45 and $52 for the three months ended September 30, 2012 and 2011, respectively and $96 and $137 for the nine months ended September 30, 2012 and 2011, respectively.
The Company’s stock option activity for the nine months ended September 30, 2012 is summarized as follows: 
 
Shares
 
Weighted
Average
Exercise
Price
Outstanding at January 1, 2012
281,725

 
$
18.27

Expired
(15,375
)
 
$
18.27

Exercised
(265,350
)
 
$
18.27

Outstanding at September 30, 2012
1,000

 
$
19.90

Vested and exercisable at September 30, 2012
1,000

 
$
19.90


A summary of the status of the Company’s stock awards as of September 30, 2012, and changes during the nine months ended September 30, 2012, is presented below: 
 
Shares
 
Weighted
 Average
Grant-Date
Fair Value
Nonvested at January 1, 2012
289,290

 
$
16.09

Granted
208,250

 
$
18.36

Vested
(86,900
)
 
$
16.79

Forfeited
(9,240
)
 
$
16.66

Nonvested at September 30, 2012
401,400

 
$
17.11


As of September 30, 2012, there was $4,506 of total unrecognized compensation cost related to nonvested stock awards granted under the plan, which is expected to be recognized over a weighted average period of 3.5 years.