The Company has a 2006 Equity Incentive Plan and an Amended and Restated 2015 Equity Incentive Plan. The 2015 plan, which was approved by the shareholders on April 24, 2015, replaced the 2006 plan. New grants may not be made under the 2006 plan; however certain option grants under the 2006 plan remain exercisable as of March 31, 2021.

Under the 2015 Plan, the Company may grant stock options, stock awards, stock appreciation rights, restricted stock units (“RSUs”), performance restricted stock units (“PRSUs”) and other equity-based awards. Under all awards, the terms are fixed on the grant date. The 2015 plan was amended and restated in 2020 to reflect certain corporate governance changes and amended in 2021 to increase the number of shares of common stock that could be awarded under the 2015 plan by 500 shares, subject to shareholder approval, which was obtained on May 4, 2021.

For the three months ended March 31, 2021, the Company granted a total of 73 RSUs at a weighted average closing price on the date of grant of $20.80. The RSUs vest in equal, annual installments over a three year period beginning on the first anniversary of the date of grant at which time common stock is issued with respect to vested units.

The Company has also granted stock options under the plans. For the three months ended March 31, 2021, and 2020, the Company did not grant any options. Options granted under the plans generally vest in equal, annual installments over a three year period beginning on the first anniversary of the date of grant and have a maximum term of 10 years. During the three months ended March 31, 2021, 7 options were forfeited in order to cover the exercise price of the options.

Stock award activity as of and during the three months ended March 31, 2021 was as follows:


	Outstanding Awards
	Stock Options	RSUs	Total		Stock Option Weighted-Average ‎Exercise Price (a)		Aggregate ‎ Intrinsic Value

Outstanding at December 31, 2020	690	217	907	$	6.51
Awards granted	-	73	73		-
Awards exercised or released	(31)	(53)	(84)		5.26
Outstanding at March 31, 2021	659	237	896	$	6.57	$	19,045

Exercisable at March 31, 2021	659		659	$	6.57	$	12,572

Available for future grant at December 31, 2020	73

Available for future grant at March 31, 2021 (b)	20

(a) The weighted average exercise price calculation does not include outstanding RSUs
(b) Does not include an additional 500 shares approved by shareholders on May 4, 2021

The number of shares available for future grants at March 31, 2021 does not include a total of up to 297 shares subject to options outstanding under the 2006 Equity Incentive Plan, which will become available for grant under the 2015 Equity Incentive Plan as outstanding options under the 2006 Equity Incentive Plan expire, terminate, are cancelled or forfeited or are withheld in a net exercise of such options.

The Company recorded $453 of non-cash stock compensation expense for the three months ended March 31, 2021 compared to $376 for the same periods in 2020. As of March 31, 2021, there was $3,012 of total unrecognized compensation costs related to non-vested stock option and RSU awards that are expected to be recognized over a weighted-average period of 2.33 years. The total intrinsic value of options exercised during the three months ended March 31, 2021 was $486.

The Company also has an Employee Stock Purchase Plan (the “Purchase Plan”). The Purchase Plan, as amended, through March 31, 2021, provides that a maximum of 300 shares may be sold under the Purchase Plan. There were 2 and 5 shares purchased under the plan for the three months ended March 31, 2021 and 2020, respectively.