Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.8
SHARE BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 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 nine months ended September 30, 2013 were as follows:
Director stock awards granted
45,510

Restricted stock awards granted
223,800

Restricted stock awards canceled
3,673

Stock option activities:
 
Outstanding as of December 31, 2012

Converted stock options
169,058

Granted
200,000

Exercised
(40,302
)
Forfeited
(1,784
)
Expired

Outstanding as of September 30, 2013
326,972

Schedule of Stock Options Valuation Assumptions
The following table shows the assumptions used to compute the share-based compensation expense for stock options granted during the nine months ended September 30, 2013:
Risk free interest rate
 
0.81
%
Expected life (years)
 
5

Volatility
 
50
%
Dividend yield
 
%
Weighted average exercise price of options granted
 
$19.04 per option

Weighted average grant-date fair value of options granted
 
$7.87 per option