Stock Based Compensation

9 Months Ended

Sep. 30, 2017

Stock Based Compensation [Abstract]

Stock Based Compensation

Note 6 — Stock Based Compensation

The Company applies the fair value recognition provisions of ASC Topic 718. The Company recorded stock based compensation of $63,000 and $301,000 for the three and nine months ended September 30, 2017, respectively.  The Company recorded stock based compensation of $190,000 and $398,000 for the three and nine months ended September 30, 2016, respectively.  The amount recorded for the three and nine months ended September 30, 2017 was recorded net of benefits of $1,000 and $11,000, respectively, as a result of forfeitures of unvested stock awards prior to completion of the requisite service period and/or failure to achieve performance criteria.  The amount recorded for the three and nine months ended September 30, 2016 was recorded net of benefits of $0 and $48,000, respectively, as a result of forfeitures of unvested stock awards prior to completion of the requisite service period and /or failure to achieve performance criteria.  At September 30, 2017, the aggregate unrecognized compensation expense related to non-vested equity awards was $0.3 million (net of estimated forfeitures), which is expected to be recognized as compensation expense in fiscal years 2017 through 2019.

For the three and nine month periods ended September 30, 2017, the Company recognized compensation expense related to performance awards based on its estimate of the probability of achievement in accordance with ASC Topic 718.