Stock Based Compensation |
9 Months Ended | ||||||||||||||||||||||||||||
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Sep. 30, 2011 | |||||||||||||||||||||||||||||
| STOCK BASED COMPENSATION [Abstract] | |||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
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. 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 $0.4 million and $0.3 million of stock-based compensation expense for the three-month periods ended September 30, 2011 and 2010, respectively and $1.7 million and $1.1 million of stock-based compensation expense for the nine-month periods ended September 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 nine-month period ended September 30, 2010:
The Company did not issue any SARs awards during the three months ended September 30, 2010 or during the nine-month period ended September 30, 2011.
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