Share-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

(10) Share-Based Compensation 

We follow FASB ASC Topic 718, Compensation – Stock Compensation, in which compensation expense is recognized only for share-based payments expected to vest. We recognized compensation expense related to stock options of $52 and $57 for each of the three-month periods ended March 31, 2020 and 2019, respectively.

As of March 31, 2020, there was approximately $256 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under our stock option plans. That cost is expected to be recognized over a remaining weighted-average period of 1.7 years.

Stock Options and Stock Grants

No stock options were exercised during the three months ended March 31, 2020, or March 31, 2019.  During the three months ended March 31, 2020, there were no stock options granted, compared to 8,000 stock options granted during the same period in 2019. During the three months ended March 31, 2020, 241,000 stock options expired, and 140,000 stock options were forfeited compared to 4,000 stock options expired, and 11,000 stock options were forfeited during the same period in 2019. We had 3,332,000 stock options outstanding at a weighted average exercise price of $0.63 on March 31, 2020, compared to 3,408,000 stock options outstanding at a weighted average exercise price of $0.67 on March 31, 2019. 

No stock options were granted during the three-month period ended March 31, 2020.  The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for stock options granted during the three-months ended March 31, 2019:

Weighted-average risk-free interest rates:	2.5%
Dividend yield:	—
Weighted-average expected life of the option:	7 years
Weighted-average expected stock price volatility:	94%
Weighted-average fair value of the options granted:	$0.75