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Stock-Based Compensation
9 Months Ended
Sep. 30, 2011
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] 
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
2.Stock-Based Compensation
 
 The 2003 Stock Incentive Plan was approved by stockholders on May 13, 2003, which authorized up to 183,600 shares of common stock to be used in the granting of incentive options to employees and directors. On April 24, 2007, the stockholders approved an additional 250,000 shares of common stock to be used in the granting of incentive options to employees and directors. This is the first and only stock incentive plan adopted by the company. Under the plan, the option price cannot be less than the fair market value of the stock on the date granted. An option’s maximum term is ten years from the date of grant. Employee options granted under the plan are subject to a five year vesting schedule. Director options immediately vest.
 
 Incremental stock-based compensation expense recognized for the nine month periods ending September 30, 2011 and 2010 was $11 thousand and $25 thousand, respectively.
 
 Stock option compensation expense is the estimated fair value of options granted amortized on a straight-line basis over the requisite service period for each separately vesting portion of the award. Fair value is estimated using the Black-Scholes option-pricing model. There were no options granted during the first nine months of 2011 and 2010.
 
 Stock option plan activity for the nine months ended September 30, 2011 is summarized below:
 
      Weighted   
      Average   
   Weighted Remaining   
   Average Contractual Aggregate
   Exercise Life Intrinsic
 Shares     Price     (in years)     Value
Options outstanding, January 1, 2011120 974 $     14.76     
Granted- -  - -     
Exercised- -  - -     
Canceled or expired- -  - -     
Options outstanding, September 30, 2011120 974  14.76 4 $     - -
Options exercisable, September 30, 2011116 896  14.73 4 $- -
          
         
The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on September 30, 2011. The aggregate intrinsic values change based on changes in the market value of the company’s stock.
 
As of September 30, 2011 there was $4 thousand of total unrecognized compensation expense related to nonvested stock options, which will be recognized over the remaining requisite service period.