Share-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Share Based Payments [Text Block]

Note 7 – Share-Based Compensation

The Company recognized the following share-based compensation expense in SG&A in its Condensed Consolidated Statements of Income for the three months ended March 31, 2019 and 2018:

	Three Months Ended
	March 31,
	2019		2018
Stock options	$	260	$	252
Nonvested restricted stock awards and restricted stock units		698		775
Employee stock purchase plan		23		22
Director stock ownership plan		31		34
Total share-based compensation expense	$	1,012	$	1,083

During the first quarter of 2019, the Company granted 232 nonvested restricted shares under its long-term incentive plan. The Company had no grants of stock options or restricted stock units during the first quarter of 2019. Nonvested restricted shares granted are generally subject only to time vesting, generally over a three-year period. The fair value of the nonvested restricted shares granted in the first quarter of 2019 are based on the trading price of the Company’s common stock on the date of grant. The Company adjusts the grant date fair value of these awards for expected forfeitures based on historical experience.

As of March 31, 2019, unrecognized compensation expense related to stock options granted was $1.0 million, to be recognized over a weighted average remaining period of 1.6 years, unrecognized compensation expense related to the nonvested restricted shares was $1.7 million, to be recognized over a weighted average remaining period of 1.6 years, and unrecognized compensation expense related to nonvested restricted stock units was $0.2 million, to be recognized over a weighted average remaining period of 1.7 years.