Stock Based Compensation

3 Months Ended

Mar. 31, 2016

Stock Based Compensation [Abstract]

Stock Based Compensation

NOTE 16 – STOCK-BASED COMPENSATION

We grant stock-based compensation in the form of (1) unrestricted stock awards to our outside directors and (2) restricted stock units (“RSUs”) to key executive personnel. These awards are granted under the International Shipholding Corporation 2015 Stock Incentive Plan and are payable in shares of the Company’s common stock, $1.00 par value per share, up to a maximum of 400,000 shares authorized for issuance. In the first quarter of 2016, we granted 60,000 unrestricted shares to our outside directors. Our total expense related to stock based compensation was approximately $0.2 million and $2,000 for the three months ended March 31, 2016 and 2015, respectively, which is reflected in administrative and general expenses.