Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Equity

14. Equity

Stock Issued to Employees and Directors

The Company issued shares of common stock to employees and Directors as restricted stock units issued under the Company’s 2004 and 2019 Incentive Plan vested. Upon issuance entries were recorded to increase common stock and decrease paid in capital for the amounts shown below. The following is a summary of stock issuances that occurred during the period:

Date of Issue	Employees or Director	Shares Issued		Value of Shares Issued
January 1, 2022	Employee		3,300	$	6.36
March 6, 2022	Directors		8,160		8.06
March 6, 2022	Employees		23,866		8.06
March 8, 2022	Directors		12,000		7.82
March 8, 2022	Employee		29,262		7.82
March 13, 2022	Directors		10,200		7.71
March 13, 2022	Employees		17,893		7.71
			104,681	$	7.83

Stock Repurchases

The Company purchases shares of Common Stock from certain employees at the closing share price on the date of purchase. The stock is purchased from the employees to satisfy employees’ withholding tax obligations related to stock issuances described above. The below table summarizes shares repurchased from employees during the current year through March 31, 2022:

Date of Purchase	Shares Purchased		Closing Price on Date of Purchase
March 6, 2022		6,035	$	8.06
March 8, 2022		7,395	$	7.82
March 13, 2022		3,924	$	7.71
		17,354

Restricted Stock Awards

The following table contains information regarding restricted stock units:

	March 31, 2022
Outstanding on January 1, 2022		286,227
Units granted during the period		-
Vested and issued		(87,327	)
Vested-issued and repurchased for income tax withholding		(17,354	)
Forfeited		(3,041	)
Outstanding on March 31, 2022		178,505

The value of the restricted stock is being charged to compensation expense over the vesting period. Compensation expense includes expense related to restricted stock units of $228 and $290, for the three months ended March 31, 2022 and 2021, respectively.  Additional compensation expense related to restricted stock units will be $504, $364, and $94 for the remainder of 2022, 2023, and 2024, respectively.

Stock Options

On September 1, 2019, 50,000 stock options were granted at $5.62 per share and vest ratably on each of the first three anniversary dates. Compensation expense related to stock options were $4 for the three months ended March 31, 2022 compared to $10 for the comparable period. Additional compensation expense will be $6 the remainder of 2022.