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Note 8 - Stock-based Compensation | 3 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
| 8. | Stock-Based Compensation
For the three months ended March 31, 2018 and 2017, the Company’s net income, as reported, includes $3.4 million and $3.1 million, respectively, of stock-based compensation costs and $0.7 million and $1.0 million of income tax benefits, respectively, related to the stock-based compensation plans in each of the periods. During the three months ended March 31, 2018 and 2017, the Company granted 274,990 and 276,900 restricted stock units, respectively. There were no stock options granted or exercised during the three months ended March 31, 2018 and 2017. The Company has not granted stock options since 2009. At March 31, 2018, the Company had 1,200 stock options, all 100% vested, outstanding, at an average exercise price of $13.91 per share. The Company uses the fair value of the common stock on the date of award to measure compensation cost for restricted stock unit awards. Compensation cost is recognized over the vesting period of the award using the straight-line method. The following table summarizes the Company’s restricted stock unit (“RSU”) awards at or for the three months ended March 31, 2018:
|  |  |  | Weighted-Average
|  |  |  | Grant-Date
|  | Shares |  | Fair Value
Non-vested at December 31, 2017 |  |  | 497,322 |  |  | $ | 22.46 |
Granted |  |  | 274,990 |  |  |  | 28.21 |
Vested |  |  | (238,249 | ) |  |  | 23.64 |
Forfeited |  |  | (6,005 | ) |  |  | 25.24 |
Non-vested at March 31, 2018 |  |  | 528,058 |  |  | $ | 24.89 |
Vested but unissued at March 31, 2018 |  |  | 233,449 |  |  | $ | 25.15 |
As of March 31, 2018, there was $11.9 million of total unrecognized compensation cost related to RSU awards granted. That cost is expected to be recognized over a weighted-average period of 3.3 years. The total fair value of awards vested for the three months ended March 31, 2018 and 2017 was $6.7 and $7.0 million, respectively. The vested but unissued RSU awards consist of awards made to employees and directors who are eligible for retirement. According to the terms of these awards, which provide for vesting upon retirement, these employees and directors have no risk of forfeiture. These shares will be issued at the original contractual vesting and settlement dates. Phantom Stock Plan: The Company maintains a non-qualified phantom stock plan as a supplement to its profit sharing plan for officers who have achieved the designated level and completed one year of service. The Company adjusts its liability under this plan to the fair value of the shares at the end of each period. The following table summarizes the Phantom Stock Plan at or for the three months ended March 31, 2018:
Phantom Stock Plan |  | Shares |  | Fair Value
Outstanding at December 31, 2017 |  |  | 89,180 |  |  | $ | 27.50 |
Granted |  |  | 8,200 |  |  |  | 27.90 |
Forfeited |  |  | - |  |  |  | - |
Distributions |  |  | (24 | ) |  |  | 27.57 |
Outstanding at March 31, 2018 |  |  | 97,356 |  |  | $ | 26.96 |
Vested at March 31, 2018 |  |  | 96,509 |  |  | $ | 26.96 |
The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $37,000 and $0.2 million for the three months ended March 31, 2018 and 2017, respectively. The total fair value of the distributions from the Phantom Stock Plan was $1,000 and $6,000 for the three months ended March 31, 2018 and 2017, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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