Share-Based Compensation

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

5. SHARE-BASED COMPENSATION:

Share-based compensation expense under all of the Company’s share-based plans was $160 thousand and $670 thousand for the three- and six-month periods ended June 30, 2017, respectively. Share-based compensation expense under all of the Company’s share-based plans was $302 thousand and $779 thousand for the three- and six-month periods ended June 30, 2016, respectively.

Cash received from the employee stock purchase plan (“ESPP”) and through stock option exercises was $2.1 million and $3.8 million during the three- and six-month periods ended June 30, 2017, respectively. Cash received from ESPP and stock option exercises was $708 thousand and $2.0 million during the three- and six-month periods ended June 30, 2016, respectively.

As of June 30, 2017, unrecognized compensation expense, net of estimated forfeitures, related to the unvested portion of all share-based compensation arrangements was approximately $675 thousand and is expected to be recognized over a weighted-average period of 1.2 years.

The Company intends to use previously purchased treasury shares for shares issued for options, restricted share awards and ESPP purchases. Shares may also be issued from authorized but unissued share reserves.