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. |