Note 13 - Stock-based Compensation

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

(

13

) Stock-Based Compensation

In

August 2018,

the Company granted an award of

5,650

restricted shares of the Company’s common stock to T. Heath Fountain, the Company’s Chief Executive Officer (“CEO”), with a market price of

$17.73

per share. The restricted shares vest in equal installments on each of

July 30, 2019,

July 2020

and

July 2021,

subject to continued service by Mr. Fountain through each applicable vesting date, or earlier upon the occurrence of a change in control. With the restricted stock, there will be

no

cash consideration to the Company for the shares. The CEO will have the right to vote all shares subject to such grant and receive all dividends with respect to such shares, whether or

not

the shares have vested.

Compensation expense for restricted stock is based on the market price of the Company stock at the time of the grant and amortized on a straight-line basis over the vesting period. The balance of unearned compensation related to these restricted shares as of

March 31, 2019

is

$77,782

which is expected to be recognized over a weighted-average of

2.33

years. Total compensation expense recognized for the restricted shares granted for the

three

months ended

March 31, 2019

was

$8,334.