XML 22 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Note 4 - Stock-based Compensation
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
4.
Stock-Based Compensation
 
The Company's
2006
Incentive Plan (“the Plan”) provides for cash-based awards or the grant or issuance of stock-based awards. As of
June 30, 2020,
231
thousand shares remained available for future grant under the Plan.
 
Share-based compensation is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). The compensation cost charged against income is included in cost of revenues and operating expenses as follows (in thousands):
 
    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2020   2019   2020   2019
Share-based compensation related to:                                
Stock option grants   $
126
     $
119
     $
250
     $
221
  
Restricted Stock Unit awards    
34
      
42
      
73
      
98
  
Total share-based compensation   $
160
     $
161
     $
323
     $
319
  
 
There was
no
income tax benefit recognized in the condensed consolidated statements of income for share-based compensation arrangements for the
three
-month and
six
-month periods ended
June 30, 2020
and
2019.
 
A summary of the Company's stock option activity for the
six
months ended
June 30, 2020
is as follows (in thousands except per share amounts):
 
    Number of
Shares		   Weighted Average
Exercise Price
Per Share		  
Weighted Average
Remaining
Contractual Life
(in years)
   Aggregate
Intrinsic
Value
(1)
Outstanding, December 31, 2019    
584
     $
14.94
      
7.9
     $
-
  
Granted    
-
      
 
      
 
      
 
  
Exercised    
-
      
 
      
 
      
 
  
Forfeited    
(3
 )   $
4.37
      
 
      
 
  
Outstanding, June 30, 2020    
581
     $
14.93
      
7.4
     $
-
  
                                 
Exercisable, June 30, 2020    
386
     $
15.62
      
6.9
     $
-
  
 
(
1
)
 Stock options had
no
aggregate intrinsic value as of
December 31, 2019
and
June 30, 2020.
Intrinsic value is calculated based on the amount by which the closing market value of the Company's stock exceeded the exercise price of the underlying options, multiplied by the number of shares.
 
A summary of the Company's stock unit award (“SUA”) activity for the
six
months ended
June 30, 2020
is as follows (in thousands except per share amounts):
 
    Number of Shares   Weighted Average Price per Share
(2)
   Weighted Average Fair Value
(2)
             
Outstanding & Unvested, December 31, 2019    
24
     $
12.84
     $
311
  
Granted    
-
      
 
      
 
  
Converted to common stock    
(10
 )   $
20.24
      
 
  
Cancelled    
(1
 )   $
20.24
      
 
  
Forfeited    
-
      
 
      
 
  
Outstanding & Unvested, June 30, 2020    
13
     $
11.87
     $
156
  
 
(
2
)
 Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants related to each grant of stock unit awards. The weighted average fair value is the weighted average share price times the number of shares.
 
As of
June 30, 2020,
820
thousand shares of common stock were reserved for issuance under the Plan. As of
June 30, 2020,
the unamortized fair value of awards relating to outstanding SUAs and options was
$800
thousand, which is expected to be amortized over a weighted average period of
2.4
years.