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Stock Based Compensation
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| STOCK BASED COMPENSATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
STOCK-BASED COMPENSATION
On March 3, 2011, under the terms of the stockholder-approved PDI, Inc. 2004 Stock Award Incentive Plan (the 2004 Plan), the Compensation and Management Development Committee of the Board (the Compensation Committee) approved grants of restricted stock to certain executive officers and members of senior management of the Company. The full Board approved the portion of these grants made to the Company’s Chief Executive Officer. In approving grants under the 2004 plan, the Compensation Committee, and the Board when required, considered, among other things, the overall performance of the Company and the business unit of the Company for which the executive has responsibility, the individual contribution and performance level of the executive, and the need to retain key management personnel. As part of the Company's 2010 long-term incentive plan, these grants aggregated 234,598 shares of restricted stock issued with a grant date fair value of $8.44 per share.
The Company recognized $0.5 million and $0.4 million of stock-based compensation expense for the three-month periods ended June 30, 2011 and 2010, respectively and $1.3 million and $0.8 million of stock-based compensation expense for the six-month periods ended June 30, 2011 and 2010, respectively. The grant date fair values of SARs awards are determined using a Black-Scholes pricing model. Assumptions utilized in the model are evaluated and revised, as necessary, to reflect market conditions and experience. The following table provides the weighted average assumptions used in determining the fair value of the non-performance based SARs awards granted during the three- and six-month periods ended June 30, 2010:
The Company did not issue any SARs awards during the six-month period ended June 30, 2011.
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