Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v2.4.0.6
Stock-Based Compensation
 3 Months Ended
Jun. 30, 2012
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
Note 6. Stock-Based Compensation

The following table is a summary of total stock-based compensation resulting from stock options, restricted stock, and restricted stock units (“RSUs”), excluding the impact of discontinued operations, during the three months ended June 30, 2012 and 2011:

 

                 
    Three months ended June 30,  
(in thousands)   2012     2011  

Stock-based compensation expense

   $ 381     $ 312  

Income tax benefit

     —         —    
   

 

 

    

 

 

  

Total stock-based compensation expense after taxes

   $ 381     $ 312  
   

 

 

    

 

 

  

The majority of the equity awards granted in the three months ended June 30, 2012 and 2011 vest in equal annual installments over four years.

Stock Options

Stock option activity for the three months ended June 30, 2012 is as follows:

 

         
    Shares  

Outstanding on March 31, 2012

     2,254,103  

Granted

     340,000  

Exercised

     (15,700 ) 

Forfeited

     (5,500 ) 

Expired

     (106,750 ) 
   

 

 

  

Outstanding on June 30, 2012

     2,466,153  
   

 

 

  

The weighted average fair value of stock options granted during the three months ended June 30, 2012 was $0.89 per share.

 

Restricted Stock

The following table sets forth restricted stock activity for the three months ended June 30, 2012:

 

         
    Shares  

Non-vested as of March 31, 2012

     1,045,000  

Granted

     70,000  

Vested

     (337,500 ) 

Forfeited

     0  
   

 

 

  

Non-vested as of June 30, 2012

     777,500  
   

 

 

  

The weighted average fair value of restricted stock awards granted during the three months ended June 30, 2012 was $2.36 per share.

RSUs

The following table sets forth the RSU activity for the three months ended June 30, 2012:

 

         
    Shares  

Non-vested as of March 31, 2012

     500,000  

Granted

     360,000  

Vested

     (100,000 ) 

Forfeited

     0  
   

 

 

  

Non-vested as of June 30, 2012

     760,000  
   

 

 

  

The weighted average fair value of RSUs granted during the three months ended June 30, 2012 was $2.32 per share. These awards convert into shares of Class A Common Stock on a one-for-one basis upon vesting.