STOCK OPTIONS AND EMPLOYEE STOCK GRANTS (Details) (USD $)
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6 Months Ended | |
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Jun. 30, 2012
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Feb. 09, 2012
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options granted, weighted average exercise price- Stock Options [Member]- Management [Member] | $ 11.35 | |
Risk Free Rate | 2.04% | |
Volatility | 53.00% | |
Dividend yield | 2.10% | |
April 27, 2012 Non-Employee Director [Member]
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Treasury stock issued to each non-employee director (in shares) | 1,598 | |
Aggregate number of treasury shares | 7,990 | |
Annual cash retainer fees | 20,000 | |
February 9, 2012 Stock Options [Member] | Management [Member]
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options granted | 36,740 | |
Vesting terms | The stock options vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant. In order for the options to vest, the employee must be in the continuous employment of the Company since the date of the grant. Any portion of the grant that has not vested will be forfeited upon termination of employment. The Company may terminate any portion of the grant that has not vested upon an employee's failure to comply with all conditions of the award or the Plan. Shares representing grants that have not yet vested will be held in escrow by the Company. An employee is not entitled to any voting rights with respect to any shares not yet vested, and the shares are not transferable. | |
Weighted Average Fair Value | 5.03 | |
Black-Scholes pricing model | The fair value of the option grant was estimated using the Black-Scholes option-pricing model | |
Expected Life | 7 |
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- Definition
Annual cash retainer fee paid to each non-employee member of the Board of Directors. No definition available.
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- Definition
Treasury stock issued to each non-employee director (in shares) No definition available.
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- Definition
Description of award terms as to how many shares or portion of an award are no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale. For example, vesting may be expressed as being 25 percent of the shares under option on each anniversary of the grant date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
For each plan, identification of the award pricing model or other valuation method used in calculating the weighted average fair values disclosed. The model is also used to calculate the compensation expense that is shown within the balance sheet, income statement, and cash flow. Examples of valuation techniques are lattice models (binomial model), closed-form models (Black-Scholes-Merton formula), and a Monte Carlo simulation technique. Fair value is the amount at which an asset or liability could be bought or incurred or sold or settled in a current transaction between willing parties, that is, other than in a forced or liquidation sale. May include disclosures about the assumptions underlying application of the method selected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Gross number of share options (or share units) granted during the period. No definition available.
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- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of treasury shares (units) reissued during the period, excluding reissuance of shares (units) held in treasury used to satisfy equity-based compensation obligations exercised by the holders of such rights. Upon reissuance of shares (units) from treasury, either the common or preferred stock (unit) reissued is outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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