12. Stock Plans

        We have several stock incentive plans outstanding, including the 2011 Incentive Award Plan (the "2011 Plan") and plans we assumed from certain acquired companies. The 2011 Plan was approved by our shareholders in November 2011 and replaces our 2006 Long-Term Stock Incentive Plan (the "2006 Plan"). While several stock incentive plans remain outstanding, awards may only be granted under the 2011 Plan. Awards can take the form of (i) stock options, (ii) stock appreciation rights, (iii) restricted stock units ("RSUs"), (iv) restricted stock, (v) dividend equivalents, (vi) stock payments and (vii) performance awards, and can be granted to employees (including officers), non-employee directors and consultants.

        The 2011 Plan provides that the maximum number of shares of common stock with respect to which awards may be granted shall not exceed 2,779,466, plus

        In addition, awards granted under the 2011 Plan upon the assumption of, or in substitution for, outstanding equity awards previously granted by an entity in connection with a corporate transaction, such as an acquisition or combination (substitute awards), will not reduce the shares authorized for grant under the 2011 Plan. Further, in the event that a company acquired by us has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant may be used for awards under the 2011 Plan and will not reduce the shares authorized for grant under the 2011 Plan, but such awards will only be made to individuals who were not employed by or providing services to us immediately prior to such acquisition or combination.

        Stock awards are generally determined by the compensation committee of our board of directors (the "Committee"). Generally, the terms of the awards, including the number of shares of common stock subject to the award and the vesting schedule, are determined by the Committee. Awards to non-executive personnel may be delegated to subcommittees of our directors and/or our officers. The exercise price of stock options shall not be less than the fair value of our common stock on the date of grant. Stock option grants typically have terms of ten years, vest over four years, and are recognized on a straight-line basis over the vesting term. At December 31, 2012, there were a total of 1,093,024 shares of common stock available for future grant under the 2011 Plan.

        Stock Options

        A summary of our stock option activity for 2012 is presented below:

        The following table summarizes information about stock options outstanding at December 31, 2012:

        Options granted (excluding MediaMind replacement options issued in 2011) had a weighted average grant-date fair value per share of $5.68, $11.03 and $14.78 for the years ended December 31, 2012, 2011 and 2010, respectively. The weighted average remaining contractual life of vested stock options at December 31, 2012 was 5.2 years.

        Options exercised had an intrinsic value of $0.1 million, $0.3 million and $1.7 million for the years ended December 31, 2012, 2011 and 2010, respectively. Our practice has been to issue new shares (as opposed to treasury shares) upon exercise of stock options.

        The intrinsic value of options outstanding at December 31, 2012 was approximately $1.6 million. The intrinsic value of options exercisable at December 31, 2012 was approximately $1.2 million.

        Unrecognized compensation costs related to unvested options, restricted stock and restricted stock units was $23.7 million at December 31, 2012. These costs are expected to be recognized over the weighted average remaining vesting period of 2.3 years.

        The fair value of each option was estimated on the date of grant using the Black Scholes option pricing model with the following assumptions (excludes options issued to replace options assumed in connection with an acquisition):

        Restricted Stock

        We award restricted stock to certain executive officers and non-employee directors from time to time. The awards vest over periods ranging from one to three years. The total fair value of the awards granted during 2012, 2011 and 2010 was $0.0 million, $0.4 million and $0.5 million, respectively. During 2012, 2011 and 2010, we recognized $0.1 million, $1.8 million and $2.4 million in stock compensation expense related to restricted stock, respectively. The grant date fair value of restricted stock that vested during 2012, 2011 and 2010 was $0.1 million, $2.8 million and $2.1 million, respectively. During 2012, restricted stock with a grant date fair value of less than $0.1 million was forfeited.

        A summary of our restricted stock activity for 2012 is presented below:

        Restricted Stock Units

        In 2011, we began awarding RSUs to certain executive officers, employees and non-employee directors from time to time. During 2012 and 2011, we awarded 1,590,567 and 149,340 RSUs, respectively. The awards vest over periods ranging from one to three years, and at December 31, 2012 had a weighted average remaining vesting period of 2.5 years. At December 31, 2012, the intrinsic value of outstanding RSUs was $18.6 million (includes 284,674 vested RSU shares, or $3.1 million, that have not been issued). The total fair value of the awards granted during 2012 and 2011 was $20.0 million and $4.9 million, respectively. During 2012 and 2011, we recognized $7.9 million and $2.4 million in stock compensation expense related to the RSUs, respectively. The grant date fair value of the RSUs that vested during 2012 and 2011 was $5.5 million and $0.0 million, respectively. As of December 31, 2012, 35,000 of the RSUs had been forfeited.

        A summary of our RSU activity for 2012 is presented below:

        Warrants

        We issued warrants to purchase common stock in connection with certain mergers and common stock offerings. A summary of our warrant activity for 2012, 2011 and 2010 is presented below:

        Stock Repurchase Program

        On August 30, 2010, our Board of Directors authorized the purchase of up to $30 million of our common stock in the open market or unsolicited negotiated transactions. The authorization was increased to a total of $80 million in April 2011. The stock repurchase program has no expiration date. Through December 31, 2012, we had made share repurchases totaling $34.7 million leaving $45.3 million available for future share repurchases. However, our Amended Credit Facility limits share redemptions and repurchases. Prior to 2010, we purchased $0.9 million of our common stock under a previous share repurchase program.