|
Share-Based Compensation and Cash-Based Incentive Compensation (Tables)
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3 Months Ended |
|
Mar. 31, 2013
|
| Summary of Share Activity Related to Restricted Stock Units |
A summary of
activity related to RSUs is as follows:
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|
|
|
|
|
|
|
|
| |
|
Restricted Stock
Units |
|
| |
|
Units |
|
|
Weighted Average
Grant Date Fair
Value Per Unit |
|
|
Outstanding RSUs, December
31, 2012
|
|
|
969,820 |
|
|
$ |
22.70 |
|
|
Granted (1)
|
|
|
1,171 |
|
|
|
18.39 |
|
|
Vested
|
|
|
— |
|
|
|
— |
|
|
Forfeited
|
|
|
(11,293 |
) |
|
|
19.26 |
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|
|
|
|
|
|
|
|
|
|
Outstanding RSUs, March 31,
2013
|
|
|
959,698 |
|
|
$ |
22.73 |
|
|
|
|
|
|
|
|
|
|
| (1) |
Adjustments to amounts
granted in 2012. |
|
| Summary of Compensation Expense under Share-Based Payment Arrangements and Related Tax Benefit |
A summary of
incentive compensation expense under share-based payment
arrangements and the related tax benefit is as follows (in
thousands):
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|
|
|
|
|
|
|
|
| |
|
Three Months Ended
March 31, |
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| |
|
2013 |
|
|
2012 |
|
|
Share-based compensation
expense from:
|
|
|
|
|
|
|
|
|
|
Restricted stock
|
|
$ |
99 |
|
|
$ |
106 |
|
|
Restricted stock
units
|
|
|
2,156 |
|
|
|
2,553 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
2,255 |
|
|
$ |
2,659 |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation
tax benefit:
|
|
|
|
|
|
|
|
|
|
Tax benefit computed at the
statutory rate
|
|
$ |
789 |
|
|
$ |
931 |
|
|
|
|
|
|
|
|
|
|
|
| Summary of Incentive Compensation Expense |
A summary of
incentive compensation expense is as follows (in
thousands):
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Share-based compensation
expense included in:
|
|
|
|
|
|
|
|
|
|
General and
administrative
|
|
$ |
2,255 |
|
|
$ |
2,659 |
|
|
|
|
|
|
|
|
|
|
|
Total charged to operating
income
|
|
|
2,255 |
|
|
|
2,659 |
|
|
|
|
|
|
|
|
|
|
|
Cash-based incentive
compensation included in:
|
|
|
|
|
|
|
|
|
|
Lease operating
expense
|
|
|
1,393 |
|
|
|
1,900 |
|
|
General and
administrative
|
|
|
3,530 |
|
|
|
1,878 |
|
|
|
|
|
|
|
|
|
|
|
Total charged to operating
income
|
|
|
4,923 |
|
|
|
3,778 |
|
|
|
|
|
|
|
|
|
|
|
Total incentive
compensation charged to operating income
|
|
$ |
7,178 |
|
|
$ |
6,437 |
|
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock
|
|
| Schedule Of Restricted Stock Awards Outstanding |
Subject to the
satisfaction of service conditions, the outstanding restricted
shares issued to the non-employee directors as of March 31,
2013 are expected to vest as follows:
|
|
|
|
|
| |
|
Shares |
|
|
2013 (1)
|
|
|
27,297 |
|
|
2014
|
|
|
10,295 |
|
|
2015
|
|
|
6,095 |
|
|
|
|
|
|
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Total
|
|
|
43,687 |
|
|
|
|
|
|
| (1) |
Includes accelerated
vesting of restricted shares held by one non-employee director who
did not stand for re-election to the Board. |
|
|
Restricted Stock Units (RSUs)
|
|
| Schedule Of Restricted Stock Awards Outstanding |
Subject to the
satisfaction of service conditions, the RSUs outstanding as of
March 31, 2013 are eligible to vest in December of the year
indicated in the table below:
|
|
|
|
|
| |
|
Shares |
|
|
2013
|
|
|
474,812 |
|
|
2014
|
|
|
344,288 |
|
|
2014 (2)
|
|
|
140,598 |
|
|
|
|
|
|
|
Total
|
|
|
959,698 |
|
|
|
|
|
|
| (2) |
In addition to service
requirements, these RSUs are also subject to certain performance
requirements not yet measureable, with adjustments ranging from 0%
to 150%. |
|