STOCK COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 31, 2020

STOCK COMPENSATION PLAN

Schedule of status of the stock option plan

	2020
		Weighted
		Average
	Number of	Exercise
	Options	Price
Outstanding, beginning of year	231,000	$	18.00
Granted	—		—
Exercised	—		—
Cancelled/forfeited	—		—
Outstanding, end of year	231,000	$	18.00
Options vested and exercisable at year-end	231,000	$	18.00
Aggregate intrinsic value of options outstanding at December 31, 2020		$	4,220,370
Weighted average remaining contractual life (years)			3.38

Schedule of summary of stock options outstanding

	Options Outstanding
Range of Average	Number Outstanding at	Weighted Average		Weighted Average		Weighted average
Exercise Prices	December 31, 2020	Remaining Contractual Life		Exercise Price		intrinsic value
$10 – 20	231,000	3.38	$	18.00	$	18.27
$21 – 30	—	—	$	—	$	—
$10 – 30	231,000	3.38	$	18.00	$	18.27

Schedule of changes in the non-vested restricted stock awards

	Year Ended December 31, 2020			Year Ended December 31, 2019
		Weighted Average			Weighted Average
	Number of Shares	Grant Date Fair Value		Number of Shares	Grant Date Fair Value
Outstanding, beginning of period	104,838	$	29.86	53,957	$	21.46
Granted	62,092		44.80	106,423		35.36
Forfeited	(31,781)		38.24	(1,561)		32.71
Vested	(58,860)		31.83	(53,981)		32.22
Outstanding at end of period	76,289	$	37.01	104,838	$	29.86

Summary of changes in the non-vested Performance Restricted Share Units awards

The following table summarizes the changes in the Company’s non-vested PRSU awards for year ended December 31, 2020:

	For the year ended
	December 31, 2020
Weighted average service inception date fair value of award shares	$	4,064,295
Minimum aggregate share payout		12,000
Maximum aggregate share payout		90,000
Likely aggregate share payout		90,000
Compensation expense recognized	$	1,430,011