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Stock Options
9 Months Ended
Sep. 30, 2012
Stock Options  
Stock Options

Note 3.—Stock Options

 

During the third quarter of 2012, the shareholders voted on and approved the amendment to the 2010 Omnibus Incentive Plan to increase the shares subject to the plan by 250,000 shares.

 

There were no options granted during the nine months ended September 30, 2012 or 2011, respectively.

 

The following table summarizes activity, pricing and other information for the Company’s stock options for the nine months ended September 30, 2012:

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Number of

 

Exercise

 

 

 

Shares

 

Price

 

Options outstanding at beginning of period

 

1,241,808

 

$

3.64

 

Options granted

 

 

 

Options exercised

 

(83,216

)

0.83

 

Options forfeited / cancelled

 

(55,442

)

12.96

 

Options outstanding at end of period

 

1,103,150

 

$

3.38

 

Options exercisable at end of period

 

889,489

 

$

3.53

 

 

As of September 30, 2012, there was approximately $353 thousand of total unrecognized compensation cost related to stock option compensation arrangements granted under the plan, net of estimated forfeitures. That cost is expected to be recognized over the remaining weighted average period of 1.13 years.

 

The following table summarizes activity, pricing and other information for the Company’s restricted stock units (RSU’s), also referred to as deferred stock units as the issuance of the stock is deferred until termination of service, for the nine months ended September 30, 2012:

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Number of

 

Grant Date

 

 

 

Shares

 

Fair Value

 

RSU’s outstanding at beginning of period

 

24,000

 

$

2.73

 

RSU’s granted

 

 

 

RSU’s exercised

 

 

 

RSU’s forfeited / cancelled

 

 

 

RSU’s outstanding at end of period

 

24,000

 

$

2.73

 

 

As of September 30, 2012, there was approximately $26 thousand of total unrecognized compensation cost related to the RSU compensation arrangements granted under the plan. That cost is expected to be recognized over a weighted average period of 1.18 years.