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Note 5 - Stock-based Compensation
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Shareholders' Equity and Share-Based Payments [Text Block]

5.

STOCK-BASED COMPENSATION

 

We recorded non-cash stock compensation expense in each period as follows:

 

   

Three-month period ended

   

Six-month period ended

 
   

June 30,

   

June 30,

   

June 30,

   

June 30,

 
   

2023

   

2022

   

2023

   

2022

 

Stock options

  $ 153     $ 181     $ 291     $ 362  

Restricted stock

    1       3       2       11  

Total

  $ 154     $ 184     $ 293     $ 373  

 

We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of June 30, 2023, there was $438 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.1 years.

 

 

The following table summarizes stock option activity for the six-month period ended June 30, 2023:

 

   

Number of

Shares

   

Weighted

Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term (years)

   

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2023

    1,425,693     $ 6.72                  

Granted

    12,500     $ 4.07                  

Exercised

    (44,390 )   $ 4.29                  

Forfeited or expired

    (99,775 )   $ 4.84                  

Outstanding at June 30, 2023

    1,294,028     $ 6.93       3.66     $ 15,640  

Vested and expected to vest at June 30, 2023

    1,188,048     $ 7.01       3.52     $ 13,124  

Exercisable at June 30, 2023

    858,695     $ 7.44       2.45     $ 2,304  

 

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended June 30, 2023 and June 30, 2022 was $62 and $0, respectively. Cash received from stock option exercises under our stock-based compensation plans for the six-month periods ended June 30, 2023 and June 30, 2022 was $62 and $113, respectively.

 

Outstanding restricted shares vest in equal annual installments over three (3) years. Unrecognized compensation cost related to outstanding restricted shares at June 30, 2023 was $1.