Share-based compensation

3 Months Ended

Mar. 31, 2018

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

Share-based compensation

4. SHARE-BASED COMPENSATION:

Share-based compensation expense under all of the Company’s share-based plans was $202 thousand and $510 thousand for the three-month periods ended March 31, 2018 and 2017, respectively.

Cash received from the employee stock purchase plan (“ESPP”) and through stock option exercises was $982 thousand and $1.7 million during the three-month periods ended March 31, 2018 and 2017, respectively. As of March 31, 2018, unrecognized compensation expense, net of estimated forfeitures, related to the unvested portion of all share-based compensation arrangements was approximately $188 thousand and is expected to be recognized over a weighted-average period of 1.41 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.