Share-Based Compensation

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

9. Share-Based Compensation

The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) Topic 718, “Compensation – Stock Compensation,” which requires the Company to recognize compensation expense for share-based awards, measured at the fair value of the awards at the grant date. The Company recognized $0.7 million and $0.6 million of share-based compensation related expense during the three-months ended March 31, 2021 and 2020, respectively.

The Company granted zero restricted stock units during the three-months ended March 31, 2021 and 2020, respectively..

There were 2,000 and zero options exercised during the three-months ended March 31, 2021 and 2020, respectively.  The Company received approximately $13,000 in cash from a non-employee director exercising options during the three-months ended March 31, 2021. The intrinsic value of options exercised during the three-months March 31, 2021 was approximately $3,000.