Note 10 - Stock Compensation Plans

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

(10)     STOCK COMPENSATION PLANS

Restricted Stock Units (RSUs)

The table below shows the number of RSUs available for issuance at December 31, 2020:

Total authorized RSUs in Plan approved by shareholders	4,850,000
Stock issued out of the Plan from vested grants	(3,091,049	)
Non-vested grants	(324,250	)
RSUs available for future issuance	1,434,701

Non-vested grants at December 31, 2018	789,250
Granted – weighted average share price on grant date was $3.98	17,000
Vested – weighted average share price on vesting date was $2.95	(297,250	)
Forfeited	(20,500	)
Non-vested grants at December 31, 2019	488,500
Granted – weighted average share price on grant date was $.90	40,000
Vested – weighted average share price on vesting date was $.92	(193,250	)
Forfeited	(11,000	)
Non-vested grants at December 31, 2020	324,250

RSU Vesting Schedule

Vesting Year	RSUs Vesting
2021		305,250
2022		9,000
2023		10,000
		324,250

Vested shares had a value of $0.2 million for 2020, and $0.9 million for 2019, on their vesting dates.   Under our RSU plan, participants are allowed to relinquish shares to pay for their required statutory income taxes.

The outstanding RSUs have a value of $0.5 million based on the March 4, 2021 closing stock price of $1.63.

For the years ended December 31, 2020 and 2019 stock-based compensation was $1.2 million and $1.8 million, respectively. For 2021, based on existing RSUs outstanding, stock-based compensation expense is estimated to be $1.1 million, with nominal amounts of expense in 2022 and 2023.

Stock Options

We have no stock options outstanding.

Stock Bonus Plan

Our stock bonus plan was authorized in late 2009 with 250,000 shares. Currently, we have 86,383 shares available for future issuance.