Quarterly report pursuant to Section 13 or 15(d)

STOCK INCENTIVE PLAN (Tables)

v2.4.0.8
STOCK INCENTIVE PLAN (Tables)
 3 Months Ended
Mar. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expense Recognized

The following table reflects the components of stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2013 and 2014:

 

     Three Months Ended
March 31, 		 
     2013     2014  
     (Dollars in thousands)  

Stock option compensation expense included in Corporate expenses

    $ 78      $ 405   

Restricted stock shares compensation expense included in Corporate expenses

      481        —     

Stock option compensation expense included in Broadcast operating expenses

      169        125   

Stock option compensation expense included in Internet operating expenses

      74        58   

Stock option compensation expense included in Publishing operating expenses

      18        15   
  

 

 

    

 

 

  

Total stock-based compensation expense, pre-tax

    $ 820      $ 603   

Tax provision for stock-based compensation expense

      (328 )      (241 ) 
  

 

 

    

 

 

  

Total stock-based compensation expense, net of tax

    $ 492      $ 362   
  

 

 

    

 

 

  
Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model

The weighted-average assumptions used to estimate the fair value of the stock options and restricted stock awards using the Black-Scholes valuation model were as follows for the three months ended March 31, 2013 and 2014:

 

     Three Months Ended
March 31, 		 
     2013     2014  

Expected volatility

      100.78 %      86.84 % 

Expected dividends

      2.05 %      2.51 % 

Expected term (in years)

      6.6        7.5   

Risk-free interest rate

      1.06 %      2.36 % 
Stock Option

Stock option information with respect to the company’s stock-based equity plans during the three months ended March 31, 2014 is as follows (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value):

 

Options

   Shares     Weighted Average
Exercise Price		     Weighted Average
Grant Date Fair Value		     Weighted Average
Remaining Contractual
Term		     Aggregate
Intrinsic Value		  

Outstanding at January 1, 2014

     2,162,067      $ 5.09      $ 3.57        5.5 years      $ 8,491   

Granted

     10,000           

Exercised

     (102,333 )         

Forfeited or expired

     (39,275 )         
 

 

 

          

Outstanding at March 31, 2014

     2,030,459      $ 5.00      $ 3.51        5.4 years      $ 10,535   
 

 

 

          

Exercisable at March 31, 2014

     735,714      $ 6.03      $ 4.36        3.5 years      $ 3,314   
 

 

 

          

Expected to Vest

     1,229,362      $ 4.41      $ 3.02        6.5 years      $ 6,857