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Note 6 - Stock-based Compensation | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Stock-Based Compensation We recognize compensation expense for stock-based payment awards made to our employees and directors, including stock options and restricted shares under our 2007 Long Term Incentive Plan, as amended (the “2007 Incentive Plan”), and our Directors’ Restricted Stock Plan (as defined below). The following table presents our stock-based compensation expense and related income tax benefits for the years ended December 31, 2016, 2015 and 2014 (in thousands):
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Stock-based compensation expense, gross |  | $ | 5,099 |  |  | $ | 4,019 |  |  | $ | 5,012 |
Income tax benefit at our statutory rate associated with stock-based compensation |  |  | (1,989 | ) |  |  | (1,567 | ) |  |  | (1,955 | )
Stock-based compensation expense, net |  | $ | 3,110 |  |  | $ | 2,452 |  |  | $ | 3,057 |
2007 Long Term Incentive Plan The 2007 Incentive Plan provides for the grant of incentive stock options, nonqualified stock options, restricted stock awards, stock appreciation rights, and performance awards to acquire shares of our common stock or Class A common stock, or the receipt of other awards based on our performance, to our employees and non-employee directors. We recognize the fair value of stock options granted on the date of grant as compensation expense, and such expense is amortized over the vesting period of the stock option. The 2007 Incentive Plan allows us to grant share-based awards for up to 6.0 million shares of stock, with not more than 1.0 million out of that 6.0 million being Class A common stock and the remaining shares being common stock. As of December 31, 2016, 3.9 million shares of our common stock and 0.3 million shares of our Class A common stock were available for issuance under the 2007 Incentive Plan. Shares of common stock and Class A common stock underlying outstanding options and performance awards are counted as issued under the 2007 Incentive Plan. Under the 2007 Incentive Plan, the options granted typically vest after a two to four -year period and expire three to eight years after vesting. However, options will vest immediately upon a “change in control” as such term is defined in the 2007 Incentive Plan. All options have been granted with purchase prices that equal the market value of the underlying stock at the close of business on the date of the grant. During the year ended December 31, 2016, we granted 218,452 shares of restricted common stock to certain employees, of which 72,816 shares vested on January 31, 2017; 72,816 shares will vest on January 31, 2018; and 72,820 shares will vest on January 31, 2019. Also during the year ended December 31, 2016, we granted 166,677 shares of restricted Class A common stock to one employee, of which 55,559 shares vested on January 31, 2017, with the remainder to vest in equal amounts on each of January 31, 2018 and 2019. During the year ended December 31, 2016, we also granted 19,048 shares of restricted common stock to certain non-employee directors, which shares vested on January 31, 2017. Also the year ended December 31, 2016, we granted 51,935 shares of restricted Class A common stock to certain non-employee directors, which shares vested on January 31, 2017. During the year ended December 31, 2015, we granted 150,308 shares of restricted common stock to our employees, of which 50,102 shares vested on January 31, 2016; 50,100 shares vested on January 31, 2017; and 50,106 shares will vest on January 31, 2018. Also during the year ended December 31, 2015, we granted 229,322 shares of restricted Class A common stock to our employees, of which 76,442 shares vested on each of January 31, 2016 and 2017; and 76,438 shares will vest on January 31, 2018. Also during the year ended December 31, 2015, we granted 58,191 shares of restricted Class A common stock to our non-employee directors, all of which vested on January 31, 2016. During the year ended December 31, 2014, we granted 312,961 shares of restricted common stock to our employees, of which 68,991 shares vested on the date of grant; 127,316 shares vested on January 17, 2015; and 58,327 shares vested on each of January 17, 2016 and 2017. Also during the year ended December 31, 2014, we granted 194,413 shares of restricted Class A common stock to an employee, of which 31,821 shares vested on the date of grant; 75,412 shares vested on January 17, 2015; and 43,590 shares vested on each of January 17, 2016 and 2017. Also during the year ended December 31, 2014, we granted 41,881 shares of restricted Class A common stock to our non-employee directors, all of which vested on January 1, 2015. A summary of restricted common stock activity for the years ended December 31, 2016, 2015 and 2014 under our 2007 Incentive Plan is as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |  |  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |
|  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 337,506 |  |  | $ | 9.57 |  |  |  | 385,056 |  |  | $ | 9.09 |  |  |  | 274,838 |  |  | $ | 4.43 |
Granted |  |  | 237,500 |  |  |  | 12.88 |  |  |  | 150,308 |  |  |  | 10.27 |  |  |  | 312,961 |  |  |  | 11.78 |
Vested |  |  | (178,973 | ) |  |  | 8.46 |  |  |  | (197,858 | ) |  |  | 9.16 |  |  |  | (202,743 | ) |  |  | 6.93 |
Outstanding - end of period |  |  | 396,033 |  |  | $ | 12.06 |  |  |  | 337,506 |  |  | $ | 9.57 |  |  |  | 385,056 |  |  | $ | 9.09 |
A summary of restricted Class A common stock activity for the years ended December 31, 2016, 2015 and 2014 under our 2007 Incentive Plan is as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |  |  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |  |  | Number |  |  | Grant Date |
|  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |  |  | of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - Class A common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 374,693 |  |  | $ | 9.46 |  |  |  | 204,473 |  |  | $ | 9.81 |  |  |  | - |  |  | $ | - |
Granted |  |  | 218,612 |  |  |  | 11.25 |  |  |  | 287,513 |  |  |  | 9.37 |  |  |  | 236,294 |  |  |  | 9.80 |
Vested |  |  | (178,223 | ) |  |  | 10.04 |  |  |  | (117,293 | ) |  |  | 9.85 |  |  |  | (31,821 | ) |  |  | 9.75 |
Outstanding - end of period |  |  | 415,082 |  |  | $ | 10.15 |  |  |  | 374,693 |  |  | $ | 9.46 |  |  |  | 204,473 |  |  | $ | 9.81 |
At December 31, 2016, 2015 and 2014, we had 274,746 stock options outstanding. At December 31, 2016, 2015 and 2014, the number of stock options that were exercisable were 274,746, 206,604 and 137,376, respectively. The exercise price of all outstanding stock options is $1.99 per share. The aggregate intrinsic value of our outstanding stock options was $2.2 million based on the closing market price of our common stock on December 31, 2016. Directors’ Restricted Stock Plan On May 14, 2003, our stockholders approved a restricted stock equity incentive plan for our Board of Directors (the “Directors’ Restricted Stock Plan”). We have reserved 1.0 million shares of our common stock for issuance under this plan and, as of December 31, 2016, there were 770,000 shares available for future award. Under the Directors’ Restricted Stock Plan, each director can be awarded up to 10,000 shares of restricted stock each calendar year. During the years ended December 31, 2016, 2015 and 2014, we did not grant any restricted stock awards under the Directors’ Restricted Stock Plan. As of December 31, 2016, we had $2.3 million of total unrecognized compensation expense related to all non-vested share based compensation arrangements. The expense is expected to be recognized over a period of 1.4 years.

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