Annual report pursuant to Section 13 and 15(d)

Capital Stock (Tables)

v2.4.0.6
Capital Stock (Tables)
12 Months Ended
Dec. 31, 2011
Capital Stock [Abstract]  
Treasury stock
                 
    Number of
Treasury
Shares
    Cost  
   

Balance at January 1, 2010

    3,305,418     $ 43,895  

Restricted stock forfeitures (1)

    2,719       —    

Noncash stock option exercises (2 )

    35,298       531  

Restricted stock withholdings (3 )

    16,424       299  
   

 

 

   

 

 

 

Balance at December 31, 2010

    3,359,859     $ 44,725  

Restricted stock forfeitures (1)

    1,920       —    

Restricted stock withholdings ( 4 )

    25,200       494  

Restricted stock awards canceled (1)

    4,613       —    
   

 

 

   

 

 

 

Balance at December 31, 2011

    3,391,592     $ 45,219  
   

 

 

   

 

 

 

 

(1) 

The Company repurchased forfeited and canceled restricted shares at a cost of $0.001 per share in accordance with the Company’s Amended and Restated 2006 Long Term Incentive Plan.

(2) 

In a noncash stock option exercise, the exercise price for the shares to be held by employees and the related tax withholdings are satisfied with stock withholdings. The Company repurchased the shares at current market value based on the days on which the stock options were exercised, which ranged from $14.85 to $15.17.

(3) 

The Company repurchased restricted shares as a result of the election by employees to have the Company withhold shares of restricted stock to satisfy their tax liabilities upon vesting in restricted stock. The Company repurchased the shares at market value on the dates of repurchase.

(4) 

The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock. The Company determined the number of shares to be withheld based upon a market value of $19.60 per share.

Stock Options
                                                         
    Year Ended
December 31, 2009
    Year Ended
December 31, 2010
    Year Ended
December 31, 2011
       
    Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
    Aggregate
Intrinsic
Value
 

Outstanding at January 1

    6,139,670     $ 7.63       1,231,892     $ 7.63       140,356     $ 7.63          

Exercised

    (4,907,778   $ 7.63       (1,091,536   $ 7.63       (58,190   $ 7.63          
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

         

Outstanding at December 31

    1,231,892     $ 7.63       140,356     $ 7.63       82,166     $ 7.63     $ 892  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Vested options at December 31

    1,231,892     $ 7.63       140,356     $ 7.63       82,166     $ 7.63     $ 892  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Restricted stock
                                                 
    Year Ended
December 31, 2009
    Year Ended
December 31, 2010
    Year Ended
December 31, 2011
 
    Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
 

Outstanding at January 1

    385,666     $ 13.32       764,078     $ 11.10       1,254,691     $ 14.60  

Granted

    472,881     $ 9.69       683,921     $ 17.94       424,436     $ 19.45  

Vested

    (70,493   $ 13.77       (190,589   $ 12.63       (288,204   $ 10.84  

Canceled

    —         —         —         —         (4,613   $ 18.35  

Forfeited

    (23,976   $ 11.15       (2,719   $ 11.03       (1,920   $ 14.34  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding at December 31

    764,078     $ 11.10       1,254,691     $ 14.60       1,384,390     $ 16.85  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Number of shares vested under restricted stock unit awards
                                                 
    Granted During the Year Ended December 31,  
    2009     2010     2011  
   

Number of

Shares

    Value at    

Number of

Shares

    Value at    

Number of

Shares

    Value at  
    Vesting     Grant     Vesting     Grant     Vesting     Grant  

at IRR of at least 8.5%

    101,051     $ 963       132,144     $ 2,423       51,239     $ 991  

at IRR of at least 10.5%

    202,117     $ 1,927       264,288     $ 4,847       102,488     $ 1,983  

at IRR of at least 12.5%

    303,168     $ 2,891       396,429     $ 7,271       153,727     $ 2,975