Average
Grant Date
Fair Value
| | Units | | | Weighted- Average Grant Date Fair Value | | | Units | | | Weighted- Average Grant Date Fair Value | | Balance at January 1, 2013 | | | 516,351 | | | $ | 21.25 | | | | 40,500 | | | $ | 20.82 | | | | 210,600 | | | $ | 21.70 | |
Granted | | | 99,400 | | | | 27.35 | | | | 8,600 | | | | 27.35 | | | | 93,100 | | | | 27.35 | |
Vested | | | (145,506 | ) | | | 20.71 | | | | (11,300 | ) | | | 19.10 | | | | — | | | | — | |
Forfeited | | | (636 | ) | | | 20.53 | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Balance at March 31, 2013 | | | 469,609 | | | | 22.71 | | | | 37,800 | | | | 22.82 | | | | 303,700 | | | | 23.43 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
The unamortized cost of all outstanding restricted stock awards as of March 31, 2013 was $5.9 million, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately 2.2 years. During the three months ended March 31, 2013 and 2012, the Company repurchased 44,606 shares for $1.2 million and 50,894 shares for $1.0 million, respectively, related to tax withholding requirements on vested share-based awards. As of March 31, 2013, there were 1,001,609 total shares available for future grant.
As of March 31, 2013 and December 31, 2012, Viad had liabilities recorded of $421,000 and $633,000, respectively, related to restricted stock unit liability awards. A portion of the 2009 performance-based restricted stock unit awards vested effective December 31, 2009 and cash payouts of $35,000 were distributed in January 2012. Similarly, portions of the 2009 and 2010 restricted stock unit awards vested in February 2013 and February 2012 and cash payouts of $300,000 and $257,000 were distributed in February 2013 and 2012, respectively.
As of March 31, 2013 and December 31, 2012, Viad had liabilities recorded of $4.6 million and $3.7 million, respectively, related to PUP awards. There were no PUP awards which vested during the three months ended March 31, 2013 or 2012. Furthermore, there were no cash settlements of PUP awards during the three months ended March 31, 2013 or 2012.
The following table summarizes stock option activity:
| | | | | | | | | | | | |
| | | | | Weighted- | | | | |
| | | | | Average | | | Options | |
| | Shares | | | Exercise Price | | | Exercisable | |
Options outstanding at January 1, 2013 | | | 363,896 | | | $ | 22.03 | | | | 276,009 | |
Exercised | | | (47,343 | ) | | | 19.48 | | | | | |
Forfeited or expired | | | (27,086 | ) | | | 28.28 | | | | | |
| | | | | | | | | | | | |
Options outstanding at March 31, 2013 | | | 289,467 | | | | 21.87 | | | | 287,467 | |
| | | | | | | | | | | | |
The total unrecognized cost related to non-vested stock option awards was $10,000 as of March 31, 2013, which Viad expects to recognize in the consolidated financial statements over a weighted-average period of approximately less than one year. No stock options were granted during the three months ended March 31, 2013.
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- DefinitionThe entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666
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Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
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