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Stock-Based Compensation
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation [Text Block] |
STOCK-BASED COMPENSATION
On April 4, 2013, 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. As part of the Company's 2012 long-term incentive plan, these grants aggregated 143,695 shares of restricted stock issued with a grant date fair value of $5.44 per share and 396,760 SARs with grant date fair value of $1.97.
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 nine months ended September 30, 2013 and 2012:
The Company recognized $0.4 million and $0.5 million of stock-based compensation expense for the three-month periods ended September 30, 2013 and 2012, respectively, and $1.5 million for each of the nine-month periods ended September 30, 2013 and 2012.
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