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Stock-Based Compensation
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6 Months Ended | ||||||||||||||||||||||||
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Jun. 30, 2012
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||
| Stock-Based Compensation [Text Block] |
STOCK-BASED COMPENSATION
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 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 2011 long-term incentive plan, these grants aggregated 150,567 shares of restricted stock 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 six-month period ended June 30, 2012:
The Company did not issue any SARs during the six months ended June 30, 2011.
The Company recognized $0.6 million and $0.5 million of stock-based compensation expense for the three-month periods ended June 30, 2012 and 2011, respectively, and $1.0 million and $1.3 million for the six-month periods ended 2012 and 2011, respectively.
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