Stock Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock inventive plan changes

	Number of Class A Shares			Weighted Average Exercise Price		Number of Class C Shares		Weighted Average Exercise Price
Outstanding at January 1, 2021		1,072,863		$	4.22		662,666	$	4.61
Adjustment for effect of stock dividends		47,594					33,136
Granted		—					—
Exercised		(97,313	)				—
Cancelled		—					—
Outstanding at June 30, 2021		1,023,144		$	4.29		695,802	$	4.61
As of June 30, 2021:
Options exercisable		1,023,144		$	4.29		695,802	$	4.61
As of June 30, 2021:
Available options for future grant		358,462					279,825
Weighted average contractual term of options
outstanding at June 30, 2021		5.18 years					6.32 years
Weighted average contractual term of options
exercisable at June 30, 2021		5.18 years					6.32 years
Aggregated intrinsic value of options
outstanding at June 30, 2021 (1)	$	4,135,399				$	2,585,420
Aggregated intrinsic value of options
exercisable at June 30, 2021 (1)	$	4,135,399				$	2,585,420

(1) The Company used a stock price of $8.33 as of June 30, 2021 to derive intrinsic value.

A summary of the status of the Company’s stock compensation plans as of June 30, 2020, and the changes during the six months ended June 30, 2020, are presented below:

	Number of Class A Shares			Weighted Average Exercise Price		Number of Class C Shares		Weighted Average Exercise Price
Outstanding at January 1, 2020		1,086,053		$	4.41		594,132	$	5.36
Adjustment for effect of stock dividends		29,099					22,544
Granted		77,000					180,000
Exercised		(78,803	)				—
Cancelled		—					—
Outstanding at June 30, 2020		1,113,349		$	4.27		796,676	$	4.87
As of June 30, 2020:
Options exercisable		1,013,955		$	4.27		561,440	$	5.11
As of June 30, 2020:
Available options for future grant		325,372					266,500
Weighted average contractual term of options
outstanding at June 30, 2020		5.97 years					6.18 years
Weighted average contractual term of options
exercisable at June 30, 2020		5.61 years					5.32 years
Aggregated intrinsic value of options
outstanding at June 30, 2020 (1)	$	2,568,502				$	1,360,855
Aggregated intrinsic value of options
exercisable at June 30, 2020 (1)	$	2,338,090				$	823,712

(1) The Company used a stock price of $6.58 as of June 30, 2020 to derive intrinsic value.