XML 51 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1
STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Changes in stock options outstanding
A summary of changes in stock options outstanding during the year ended December 31, 2021, is as follows:
 2021
 Number of
Options
(in thousands)		Weighted
average
exercise
price		Weighted
average
remaining
contractual
life
(in years)		Aggregate
intrinsic
value (in
thousands)
Outstanding at beginning of year306 $16.07   
Granted10 25.66   
Exercised(58)14.51   
Expired(14)11.40   
Forfeit— — 
Outstanding at end of year244 $17.10 5.01$5,174 
Options exercisable at year end236 $16.86 4.86$5,054 
Assumptions used to calculate compensation expense and fair value of stock options granted The following assumptions were used to calculate the compensation expense and the calculated fair value of stock options granted each year: 
 2021 2020 
Dividend yield:2.4%3.0%
Risk-free interest rate:0.7%0.3%
Expected market price volatility:56.7%52.5%
Average expected life of stock options:4.5 years 4.5 years 
Share-based compensation expense
The Company recorded the following amounts related to the expense of the fair values of options during the years ended December 31, 2021 and 2020 (in thousands):
 2021 2020
Selling, general and administrative expenses and income from operations before income taxes$50 $124 
Benefit for income taxes(12)(9)
Effect on net income$38 $115 
Unrecognized compensation cost
As of December 31, 2021, the Company had less than $0.1 million of total unrecognized compensation expense related to stock options currently outstanding, to be recognized in future years, ending December 31, as follows (in thousands):
 Total gross unrecognized
compensation expense		Total tax benefit associated
with unrecognized
compensation expense		Total net
unrecognized
compensation expense
2022$26 $6 $20 
202310 2 8 
 $36 $8 $28