Note 8. Benefit Plans

Equity Incentive Plan

On May 1, 2012, the Company’s shareholders approved the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan authorizes the grant of up to 2,000,000 stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares, performance units and other awards for the purpose of providing the Company’s non-employee directors, consultants, officers and other employees incentives and rewards for superior performance. In 2014, a total of 148,500 restricted shares, with an estimated fair value of $559, were issued to officers under the 2012 Plan. In 2013, a total of 200,000 restricted shares, with an estimated fair value of $704, were issued to officers and directors under the 2012 Plan. The estimated fair value of the restricted shares issued under the 2012 Plan for 2014 and 2013 was based on the common stock price at date of grant.

A summary of the status of the Company’s stock options at December 31, 2014 and 2013 is as follows:

	2014				2013
Options	Shares		Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Options outstanding, beginning of year		—	$	—		77,000		$	1.59
Options exercised		—		—		(62,500	)		1.59
Options canceled or expired		—		—		(14,500	)		1.59
Options outstanding, end of year		—		—		—			—
Options available for future grant		1,651,500				1,800,000

401(k) Plan

The Company initiated an employees’ savings plan (the “Plan”) qualified under Section 401(k) of the Internal Revenue Code in May 1995. The Plan covers substantially all of the Company’s employees. Effective January 1, 2009, the Company modified the Plan such that the Plan would operate on a safe harbor basis. Under the Plan, employees may defer up to 50% of their compensation, not to exceed the annual deferral limit. The Company’s total matching contribution for 2014 and 2013 was $186 and $173, respectively, and consisted of a contribution equal to 50% of up to the first 4% of each participant’s contributions. In addition to the matching contribution, the Company also provided a 3% safe harbor non-elective contribution in 2014 and 2013 of $391 and $369, respectively. The employer match and safe harbor contribution were made in cash.

Agent Stock Purchase Plan

The Company initiated a nonqualified stock purchase plan (the “Agent Stock Purchase Plan”) in May 2012. The purpose of the Agent Stock Purchase Plan is to promote and advance the interests of the Company and its stockholders by providing independent agents who qualify as participants with an opportunity to purchase the common stock of the Company. Under the Agent Stock Purchase Plan, payment for shares of common stock of the Company is made by either deduction from an agent’s commission payment or a direct cash payment. Stock purchases are made at the end of each calendar quarter at the then current market value.