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Stock Options | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK OPTIONS | STOCK OPTIONS Incentive Stock Option Plan On May 7, 2015, the stockholders of the Company approved the 2015 Incentive Stock Option Plan (“2015 ISO Plan”) and the Company reserved 400,000 shares of common stock for options to be issued under the 2015 ISO Plan. Each option becomes vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year. We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Following is a summary of activity in the Incentive Stock Option Plans for the periods indicated:
| 2017 | 2016 | 2015
| Shares |  | Exercise Price* | Shares |  | Exercise Price* | Shares |  | Exercise Price*
Options outstanding at beginning of year | 220,820 |  |  | $ | 37.39 |  | 254,195 |  |  | $ | 34.64 |  | 301,800 |  |  | $ | 30.73 |
Granted | 10,750 |  |  | 83.99 |  | 21,000 |  |  | 54.87 |  | 29,500 |  |  | 53.95 |
Exercised | (54,945 | ) |  | 24.83 |  | (43,775 | ) |  | 26.59 |  | (75,355 | ) |  | 26.11 |
Canceled | (3,750 | ) |  | 54.57 |  | (10,600 | ) |  | 50.68 |  | (1,750 | ) |  | 53.61 |
Options outstanding at end of year | 172,875 |  |  | 43.91 |  | 220,820 |  |  | 37.39 |  | 254,195 |  |  | 34.64 |
Options exercisable at end of year | 111,875 |  |  | $ | 36.44 |  | 136,220 |  |  | $ | 29.66 |  | 143,345 |  |  | $ | 25.69 |
Options available for grant at end of year | 344,950 |  |  |  |  | 353,450 |  |  |  |  | 370,750 |  |  |  |
*Weighted Averages Options outstanding and exercisable at December 31, 2017 were as follows:
Qualified Stock Options | Options Outstanding |  | Options Exercisable
| Shares | Remaining Contractual Life (yrs)* | Exercise Price* |  | Shares |  | Exercise Price*
Range of Exercise Price |  |  |  |  |  |  |  |  |  |  |  |  |
$11.45 - $22.55 | 12,575 |  |  | 0.79 |  | $ | 17.78 |  |  | 12,575 |  |  | $ | 17.78 |
$24.69 - $42.70 | 80,650 |  |  | 4.38 |  | $ | 34.57 |  |  | 73,850 |  |  | $ | 33.82 |
$49.44 - $83.99 | 79,650 |  |  | 7.50 |  | $ | 57.48 |  |  | 25,450 |  |  | $ | 53.27 |
Total | 172,875 |  |  |  |  |  |  |  | 111,875 |  |  |  |
*Weighted Averages The weighted-average grant-date fair values of options granted during 2017, 2016, and 2015 were $36.00, $27.48 and $27.63, respectively. Stock option expense was $597,000, $787,000 and $735,000 for years ending 2017, 2016, and 2015, respectively. As of December 31, 2017, there was $998,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of five years. Equity Incentive Plan Under the Company's 2009 Equity Incentive Plan the Company reserved 400,000 shares of common stock for options to purchase shares of common stock may be granted to non-employee directors. Options become vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year.
| 2017 | 2016 | 2015
Options available for grant at end of year | 176,294 | 207,608 | 232,522
We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Non-Qualified Options Following is a summary of activity in the Non-Qualified Stock Option Plans for the periods indicated:
| 2017 | 2016 | 2015
| Shares |  | Exercise Price* | Shares |  | Exercise Price* | Shares |  | Exercise Price*
Options outstanding at beginning of year | 112,400 |  |  | $ | 34.48 |  | 127,300 |  |  | $ | 32.05 |  | 132,100 |  |  | $ | 31.30 |
Granted | — |  |  | — |  | — |  |  | — |  | — |  |  | — |
Exercised | (45,400 | ) |  | 22.73 |  | (14,900 | ) |  | 13.73 |  | (4,800 | ) |  | 11.45 |
Canceled | — |  |  | — |  | — |  |  | — |  | — |  |  | — |
Options outstanding at end of year | 67,000 |  |  | 42.43 |  | 112,400 |  |  | 34.48 |  | 127,300 |  |  | 32.05 |
Options exercisable at end of year | 50,400 |  |  | $ | 39.86 |  | 85,000 |  |  | $ | 29.61 |  | 83,100 |  |  | $ | 24.54 |
*Weighted Averages Options outstanding and exercisable as of December 31, 2017 were as follows:
Non-Qualified Stock Options | Options Outstanding |  | Options Exercisable
| Shares | Remaining Contractual Life (yrs)* | Exercise Price* |  | Shares |  | Exercise Price*
Range of Exercise Price |  |  |  |  |  |  |  |  |  |  |  |  |
$11.45 - $22.55 | 8,000 |  |  | 1.36 |  | $ | 11.45 |  |  | 8,000 |  |  | $ | 11.45 |
$24.69 - $42.70 | 30,000 |  |  | 5.02 |  | 39.99 |  |  | 25,000 |  |  | 39.45 |
$49.44 - $83.99 | 29,000 |  |  | 6.37 |  | $ | 53.51 |  |  | 17,400 |  |  | $ | 53.51 |
Total | 67,000 |  |  |  |  |  |  |  | 50,400 |  |  |  |
*Weighted Averages There were no options granted in 2015, 2016 or 2017. Stock option expense was $22,000, $27,000 and $35,000 for years ending 2017, 2016, and 2015, respectively. As of December 31, 2017, there was $30,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of five years. During 2017, 2016, and 2015, 45,400, 14,900, and 4,800 non-qualified options were exercised, respectively, $1,032,000, $205,000, and $55,000 of cash receipts were received, respectively, and tax deductions of zero, $657,000, and $187,000 were realized, respectively, for the tax deductions from option exercises. Restricted Stock Awards Following is a summary of activity in the Restricted Stock Awards for the periods indicated:
| 2017 | 2016 | 2015
| Shares |  | Exercise Price* | Shares |  | Exercise Price* | Shares |  | Exercise Price*
Options outstanding at beginning of year | 45,621 |  |  | $ | 54.58 |  | 32,616 |  |  | $ | 53.31 |  | 12,043 |  |  | $ | 44.10 |
Granted | 33,620 |  |  | 84.34 |  | 27,440 |  |  | 55.17 |  | 26,004 |  |  | 54.14 |
Exercised | (16,189 | ) |  | 56.03 |  | (11,909 | ) |  | 52.67 |  | (5,431 | ) |  | 36.85 |
Canceled | — |  |  | — |  | (2,526 | ) |  | 53.57 |  | — |  |  | — |
Options outstanding at end of year | 63,052 |  |  | 70.08 |  | 45,621 |  |  | 54.58 |  | 32,616 |  |  | 53.31 |
*Weighted Averages Restricted stock awards vest 25% after one year following the award date and for an additional 25% of total awarded shares each succeeding year until fully vested. The weighted-average remaining contractual life in years for 2017, 2016, and 2015 was 2.69, 2.89 and 3.11, respectively. Stock option expense was $1,250,000, $600,000 and $287,000 for years ending 2017, 2016, and 2015, respectively. As of December 31, 2017, there was $3,544,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of four years.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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