STOCK-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2019

4.STOCK-BASED COMPENSATION PLANS

In accordance with the Company’s stock-based compensation plans, the Company may grant incentive stock options as well as non-qualified and other stock-related incentives to officers, employees and non-employee directors of the Company. At the Annual Meeting of Shareholders of the Company held on May 26, 2017, the Company’s shareholders voted to approve the Miller Industries, Inc. 2016 Stock Incentive Plan, pursuant to which 800,000 shares of common stock are available for issuance pursuant to awards granted under the plan. No awards may be granted under the Company’s 2016 Stock Incentive Plan on or after August 1, 2026. Shares available for granting options at each of the years ended December 31, 2019, 2018 and 2017 were 800,000.

A summary of the activity of stock options for the years ended December 31, 2019, 2018 and 2017, is presented below (shares in thousands):


	2019			2018			2017
		Weighted			Weighted			Weighted
	Shares	Average		Shares	Average		Shares	Average
	Under	Exercise		Under	Exercise		Under	Exercise
	Option	Price		Option	Price		Option	Price
Outstanding at Beginning of Period	—	$	—	11	$	5.49	37	$	5.49
Granted	—		—	—		—	—		—
Exercised	—		—	(10)		5.49	(26)		5.49
Forfeited and cancelled	—		—	(1)		5	—		—
Outstanding at End of Period	—	$	—	—	$	—	11	$	5.49
Options exercisable at year end	—	$	—	—	$	—	11	$	5.49