In 2009, the Compensation Committee granted 375,500 shares of restricted stock. No shares of restricted stock were  granted during 2012, 2011 or 2010. The estimated fair value of restricted stock is based on the closing share price of our  common stock on the NYSE on the date of grant.  All restrictions imposed under a restricted stock grant lapse after the  applicable restriction period. The holders of restricted stock are entitled to vote their restricted shares and to receive cash  dividends. Each share of restricted stock is granted at full value with  no exercise price. The restricted stock vests 50% after  three years and 50% after four years.  The cost recognized for these awards is based on the fair value at date of grant and is  recognized over the applicable vesting period.  Information with regard to restricted stock for the periods indicated is as follows: We have an ESPP, the Radian Group Inc. 2008 Employee Stock Purchase Plan (the “2008 ESPP”) under which  2,000,000  shares of our authorized but unissued common stock have been reserved for issuance. Under the 2008 ESPP , we sold 204,834,  158,676 and 99,781 shares to employees during the years ended December 31, 2012, 2011 and 2010, respectively. The 2008 ESPP is designed to allow eligible employees to purchase shares of our common stock at a discount of  15% off  the lower of the fair market value of our common stock at the beginning-of-period or end-of-period (each period being the first  and second six calendar months in a calendar year). The following are assumptions used in our calculation of ESPP  compensation expense during 2012: As of December 31, 2012, 2011 and 2010, unrecognized compensation expense related to the unvested portion of all of  our market condition awards was approximately  $22.4 million, $7.4 million and $7.8 million, respectively. Absent a change of  control under the Equity Plans, this expense is expected to be recognized over a weighted average period of approximately  two  years.  In 2009 and 2010, the Compensation Committee granted awards under the Cash Based L TI Plans with performance for  50% of the award measured over a three-year performance period and  50% of the award measured over a four -year  performance period based on the following performance measures: (1) mortgage insurance market share; (2) capital  management; (3) mortgage insurance credit quality; (4) expense management; and (5) operating profitability . No awards were  granted in 2012 or 2011 under the Cash Based LTI Plans. Compensation costs recognized related to non-share-based awards  under the Officer LTI Plan were $0.7 million, $0.5 million and $1.1 million for the years ended December 31, 2012, 2011 and  2010, respectively. Compensation costs recognized related to non-share-based awards under the Executive L TI Plan were $0.7  million, $5.5 million and $3.1 million for the years ended December 31, 2012, 2011 and 2010, respectively.  256 Other Compensation Programs Unrecognized Compensation Expense Employee Stock Purchase Plan Restricted Stock Number of Shares Weighted Average Grant Date Fair Value Per Share Unvested, December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 324,778 $ 2.67 Granted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (189,404 ) 2.62 Forfeited. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,000 ) 2.68 Unvested, December 31, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131,374 $ 2.72 January 1, 2012 July 1, 2012 Expected life. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 months 6 months Risk-free interest rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.79% 0.73% Volatility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121.02% 95.70% Dividend yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.21% 0.15% Radian Group Inc. Notes to Consolidated Financial Statements - (Continued)