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Stock Based Compensation
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3 Months Ended | ||||||||||||||||||||||||||||
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Mar. 31, 2012
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| STOCK BASED COMPENSATION [Abstract] | |||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
On January 30, 2012, 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 units and SARs 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. These grants were made as part of the Company's long-term incentive plan and aggregated 150,567 shares of restricted stock units issued with a weighted average grant date fair value of $6.56 per share.
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-month period ended March 31, 2012:
The Company did not issue any SARs during the three months ended March 31, 2011.
The Company recognized $0.4 million and $0.7 million of stock-based compensation expense for the three-month periods ended March 31, 2012 and 2011, respectively.
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