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STOCK-BASED COMPENSATION | 9 Months Ended
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Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock Incentive Plans We have one long-term equity incentive plan which we refer to as the 2006 Equity Incentive Plan, which we first amended and restated as of April 20, 2015 and again on March 9, 2017 (the "Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the Restated Plan 14,000,000 shares of common stock. We can issue options, stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan. Options Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options generally vest over 3 to 5 years and expire 5 to 10 years from the date of grant. As of September 30, 2019, we had outstanding options to acquire 481,451 shares of our common stock, of which options to acquire 137,623 shares were exercisable. The following summarizes all of our option transactions for the nine months ended September 30, 2019:
Outstanding Options Under the 2006 Plan |  | Shares |  | Weighted Average Exercise price Per Common Share |  | Weighted Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value
Balance,December 31, 2018 |  | 513,282 |  |  | $ | 7.44 |  |  |  |  |
Granted |  | 89,200 |  |  | 10.93 |  |  |  |  |
Exercised |  | (10,000 | ) |  | 4.97 |  |  |  |  |
Canceled, forfeited or expired |  | (111,031 | ) |  | 0.79 |  |  |  |  |
Balance, September 30, 2019 |  | 481,451 |  |  | 8.22 |  |  | 7.56 |  | $ | 2,956,444 |
Exercisable at September 30, 2019 |  | 137,623 |  |  | 6.97 |  |  | 6.65 |  | 1,017,406 |
Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on September 30, 2019 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on September 30, 2019. Options exercised amounted to 10,000 shares during the nine months ended September 30, 2019. As of September 30, 2019, total unrecognized stock-based compensation expense related to non-vested employee awards was $846,700 which is expected to be recognized over a weighted average period of approximately 1.96 years. Restricted Stock Awards The Restated Plan permits the award of restricted stock awards (“RSA’s”). As of September 30, 2019, we have issued a total of 6,089,276 RSA’s of which 387,184 were unvested at September 30, 2019. The following summarizes all unvested RSA’s activities during the nine months ended September 30, 2019:
| RSA's |  | Weighted-Average Remaining Contractual Term (Years) |  | Weighted-Average Fair Value
RSA's unvested at December 31, 2018 | 277,504 |  |  |  |  | $ | 9.77 |
Changes during the period |  |  |  |  |
Granted | 631,656 |  |  |  |  | $ | 11.76 |
Vested | (520,476 | ) |  |  |  | $ | 9.64 |
Forfeited or Cancelled | (1,500 | ) |  |  |  | $ | 12.76 |
RSA's unvested at September 30, 2019 | 387,184 |  |  | 1.38 |  | $ | 11.59 |
We determine the fair value of all RSA’s based on the closing price of our common stock on award date. Other stock bonus awards The Restated Plan also permits the award of stock bonuses not subject to any future service period. These awards are valued and expensed based on the closing price of our common stock on the date of award. During the nine months ended September 30, 2019 awards totaling 26,600 shares were granted. Plan summary In summary, of the 14,000,000 shares of common stock reserved for issuance under the Restated Plan, at September 30, 2019, we had issued 14,806,694 total shares between options, RSA’s and other stock awards. With options canceled and RSA’s forfeited amounting to 3,281,040 and 61,703 shares, respectively, there remain 2,536,049 shares available under the Restated Plan for future issuance.

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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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