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Stock Options and Other Equity-Based Incentive Instruments (Tables)
 6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement. On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was ratified by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. All grants of equity awards made during the six months ended June 30, 2019 were made from the 2019 Plan.
Stock option activity during the six months
ended June 30, 2019 is summarized in the following table:
 
Number
of Shares
   
Option Price
per Share
   
Weighted
Average
Exercise Price
 
Outstanding at December 31, 2018
   
343,000
     
$
12.63
 to $23.21
    $
16.67
 
Options granted
   
—  
      
— to —
     
—  
  
Options exercised
   
(157,000
 )    
$12.63 to $19.46
     
15.92
 
Options forfeited
   
—  
      
— to —
     
—  
  
                         
Outstanding at June 30, 2019
   
186,000
     
$14.54 to $23.21
    $
17.45
 
Summary of Options Outstanding
The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of June 30, 2019:
 
Currently
Exercisable
   
Currently Not
Exercisable
   
Total
Outstanding
 
Number of options
   
185,250
     
750
     
186,000
 
Weighted average exercise price
  $
17.43
    $
23.21
    $
17.45
 
Intrinsic value (in thousands)
  $
3,774
    $
11
    $
3,785
 
Weighted average remaining contractual term (yrs.)
   
3.1
     
5.3
     
3.1
 
Restricted Stock Unit (RSU) Activity
Restricted stock unit (RSU) activity is summarized in the following table for the dates indicated:
                 
 
Service
Condition
Vesting RSUs
   
Market Plus
Service
Condition
Vesting RSUs
 
Outstanding at December 31, 2018
   
66,947
     
45,536
 
RSUs granted
   
35,272
     
22,898
 
RSUs added through dividend and performance credits
   
519
      
7,414
  
RSUs released
   
(26,211
 )    
(22,237
 )
RSUs forfeited/expired
   
—  
      
—  
  
                 
Outstanding at June 30, 2019
   
76,527
     
53,611