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Note 5 - Stock-based Compensation
9 Months Ended
Sep. 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

   

Nine-month period ended

 
   

September 30,

2023

   

September 30,

2022

   

September 30,

2023

   

September 30,

2022

 

Stock options

  $ 130     $ 176     $ 421     $ 538  

Restricted stock

    1       3       3       14  

Total

  $ 131     $ 179     $ 424     $ 552  

 

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 September 30, 2023, there was $314 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 0.9 years.

 

The following table summarizes stock option activity for the nine-month period ended September 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

    (204,891 )   $ 5.71                  

Forfeited or expired

    (144,690 )   $ 5.01                  

Outstanding at September 30, 2023

    1,088,612     $ 7.11       3.54     $ 2,898  

Vested and expected to vest at September 30, 2023

    1,009,489     $ 7.20       3.37     $ 2,598  

Exercisable at September 30, 2023

    703,529     $ 7.79       2.36     $ 1,402  

 

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended September 30, 2023 and September 30, 2022 was $979 and $3, respectively. Cash received from stock option exercises under our stock-based compensation plans for the nine-month periods ended September 30, 2023 and September 30, 2022 was $1,041 and $116, respectively.

 

Outstanding restricted shares vest in equal annual installments over three (3) years. Unrecognized compensation cost related to outstanding restricted shares at September 30, 2023 was $0.