Note 6 - Stock-based Compensation |
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Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6 . Stock-Based Compensation We recognize compensation expense for share-based payment awards made to our employees, consultants and directors. Our active stock-based compensation plans include our 2017 Equity and Incentive Compensation Plan (the “2017 EICP”); our 2007 Long-Term Incentive Plan, as amended (the “2007 Incentive Plan”); and our Directors’ Restricted Stock Plan. The following table presents our stock-based compensation expense and related income tax benefits for the years ended December 31, 2017, 2016 and 2015 (in thousands):
Currently, the 2017 EICP provides for, and, while awards were available for grant thereunder the 2007 Incentive Plan provided for, the grant of incentive stock options, nonqualified stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, and performance awards to acquire shares of our Class A common stock or common stock, or other awards based on our performance. Under the Directors’ Restricted Stock Plan, each director can be awarded up to 10,000 shares of restricted common stock or Class A common stock each calendar year. During the years ended December 31, 2017, 2016 and 2015, we did not grant any awards under the Directors’ Restricted Stock Plan. All shares of common stock and Class A common stock underlying outstanding options, restricted stock units and performance awards are counted as issued under the 2017 EICP, the 2007 Incentive Plan and the Directors’ Restricted Stock Plan for purposes of determining the number of shares available for future issuance. During 2017, we granted:
During 2016, we granted, under the 2007 Incentive Plan:
During 2015, we granted, under the 2007 Incentive Plan:
As of December 31, 2017, we had 4.8 million shares of our common stock and 1.9 million shares of our Class A common stock available for issuance under the 2017 EICP.As of December 31, 2017 and 2016, we had outstanding options to acquire 274,746 shares of our common stock, all of which were vested and exercisable under the 2007 Incentive Plan. All outstanding options were granted with exercise prices equal the market value of the underlying stock at the close of business on the date of the grant. The exercise price of all our outstanding stock options is $1.99 per share. The aggregate intrinsic value of outstanding stock options was $4.1 million based on the closing market price of our common stock on December 31, 2017. There are no shares available for future awards under this plan. As of December 31, 2017, under the Directors Restricted Stock Plan there were 770,000 shares available for future award. As of December 31, 2017, we had $3.4 million of total unrecognized compensation expense related to all non-vested share based compensation arrangements. This expense is expected to be recognized over a period of 1.4 years.A summary of activity for the years ended December 31, 2017, 2016 and 2015 under our stock based compensation plans is as follows:
Subsequent Event. On February 14, 2018, we granted the following restricted stock awards, with a total grant date fair value of approximately $7.6 million, under the 2017 EICP:
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