Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.6
SHARE BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share Based Compensation Plans
Transactions in connection with the Company’s share-based compensation plans during the three months ended March 31, 2013 were as follows:
Director stock awards granted and outstanding
45,510

Restricted stock awards granted and outstanding
188,200

Stock option activities:
 
Outstanding as of December 31, 2012

Converted stock options
169,058

Granted
185,000

Exercised
(6,346
)
Forfeited

Expired

Outstanding as of March 31, 2013
347,712

Schedule of Stock Options Valuation Assumptions
The following table shows the assumptions used to compute the stock-based compensation expense for stock options granted during the three months ended March 31, 2013:
Risk free interest rate
 
0.79
%
Expected life (years)

 
5

Volatility

 
50
%
Dividend yield

 
%
Weighted average exercise price of options granted

 
$18.28 per option

Weighted average grant-date fair value of options granted

 
$7.58 per option