Securities Authorized for Issuance under Equity Compensation Plans

9 Months Ended

Sep. 30, 2015

Securities Authorized for Issuance Under Equity Compensation Plans [Abstract]

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

10.  SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

During the three months ended September 30, 2015, no stock options were exercised.

During the nine months ended September 30, 2015, stock options to purchase an aggregate of 10,000 shares were exercised.  Following the withholding of an aggregate of 2,156 shares in connection with the net exercise feature of the stock options, the Company delivered an aggregate of 7,844 shares to the option holder who exercised his options.  

Stock compensation expense during the three months ended September 30, 2015 and 2014 attributable to stock awards was approximately $162,000 and $0, respectively. Stock compensation expense during the nine months ended September 30, 2015 and 2014 attributable to stock awards was approximately $162,000 and $356,000, respectively. There was no stock compensation expense attributable to stock options during the three and nine months ended September 30, 2015 and 2014.

At September 30, 2015, there was no unrecognized compensation expense related to stock options.  

The following table provides information at September 30, 2015 regarding outstanding stock options under the Company’s stock option plans. As used in the table below, “2002 NQ” refers to the Company’s 2002 Non-Qualified Stock Option Plan and “2008 NQ” refers to the Company’s 2008 Non-Qualified Stock Option Plan.

Plan	Date Granted	Shares Underlying Options Outstanding		Shares Underlying Exercisable Options		Exercise Price		Expiration Date	Weighted Average Remaining Term
2002NQ	4/03/06		30,000		30,000	$	1.08	4/02/16		0.5
2002NQ	12/17/07		40,000		40,000	$	1.32	12/16/17		2.2
2008NQ	1/11/09		40,000		40,000	$	0.69	1/10/19		3.3
2008NQ	4/26/10		20,000		20,000	$	2.07	4/25/20		4.6
			130,000		130,000	$	1.19			2.5