Stock Based Compensation

3 Months Ended

Mar. 31, 2016

Stock Based Compensation [Abstract]

Stock Based Compensation

Note 6— Stock Based Compensation

The Company applies the fair value recognition provisions of ASC Topic 718 Stock-Based Compensation.  The Company recorded stock based compensation of $66,000 and $245,000 for the three months ended March 31, 2016 and 2015, respectively.  The amount recorded for the three months ended March 31, 2016 and 2015 was recorded net of benefits of $26,000 and $28,000, respectively, as a result of forfeitures of unvested stock awards prior to the completion of the requisite service period.  At March 31, 2016, the aggregate unrecognized compensation expense related to non-vested equity awards was $571,000 (net of estimated forfeitures), which is expected to be recognized as compensation expense in fiscal years 2016 through 2018.

For the three month period ended March 31, 2016, the Company recognized compensation expense related to performance awards based on its estimate of the probability of achievement in accordance with ASC Topic 718.