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Note 7 - Stock-based Compensation | 9 Months Ended
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Sep. 30, 2018
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 7. Stock-based Compensation We recognize compensation expense for share-based payment awards made to our employees, consultants and directors. Our current stock-based compensation plans include our 2017 Equity and Incentive Compensation Plan (the “2017 EICP”); our 2007 Long-Term Incentive Plan, as amended (the “2007 Incentive Plan”); and our Directors’ Restricted Stock Plan. The following table presents our stock-based compensation expense and related income tax benefit for the three and nine -month periods ended September 30, 2018 and 2017 (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Stock-based compensation expense, gross |  | $ | 1,645 |  |  | $ | 1,531 |  |  | $ | 5,544 |  |  | $ | 4,303 |
Forfeitures |  |  | - |  |  |  | - |  |  |  | (528 | ) |  |  | - |
Income tax benefit at our statutory rate associated with share-based compensation |  |  | (418 | ) |  |  | (597 | ) |  |  | (1,274 | ) |  |  | (1,678 | )
Stock-based compensation expense, net |  | $ | 1,227 |  |  | $ | 934 |  |  | $ | 3,742 |  |  | $ | 2,625 |
All shares of common stock and Class A common stock underlying outstanding options, restricted stock units and performance awards are counted as issued at target levels under the 2017 EICP, the 2007 Incentive Plan and the Directors’ Restricted Stock Plan for purposes of determining the number of shares available for future issuance. During the nine -months ended September 30, 2018, we granted under the 2017 EICP:
| ● | 110,040 shares of restricted Class A common stock with a grant date fair value per share of $12.65 to an employee, of which 36,680 shares will vest on each of February 28, 2019, 2020 and 2021;
| ● | 110,040 shares of restricted Class A common stock with a grant date fair value per share of $12.65 to an employee, subject to the achievement of certain performance measures, which will vest on February 28, 2021;
| ● | 318,196 shares of restricted common stock with a grant date fair value per share of $15.25 to certain employees; net of forfeitures, 131,106 shares will vest on February 28, 2019; 69,651 shares will vest on February 28, 2020; and 69,652 shares will vest on February 28, 2021; and
| ● | 73,640 shares of restricted common stock to our non-employee directors, all of which will vest on May 31, 2019.
During the nine -months ended September 30, 2017, we granted:
| ● | Under the 2007 Incentive Plan, 307,943 shares of restricted common stock to certain employees, of which 102,648 shares vested on January 31, 2018; net of forefeitures, 86,783 shares will vest on January 31, 2019; and 86,781 shares will vest on January 31, 2020;
| ● | Under the 2007 Incentive Plan, 198,220 shares of restricted Class A common stock to an employee, of which 66,073 shares vested on January 31, 2018; 66,073 shares will vest on January 31, 2019; and 66,074 shares will vest on January 31, 2020; and
| ● | Under the 2017 EICP, 76,856 shares of restricted Class A common stock to our non-employee directors, all of which vested on January 31, 2018.
A summary of restricted common stock and Class A common stock activity for the nine -month periods ended September 30, 2018 and 2017 is as follows:
|  | Nine Months Ended |
|  | September 30, 2018 |  |  | September 30, 2017 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | average |  |  |  |  |  |  | average |
|  |  |  |  |  | Grant Date |  |  |  |  |  |  | Grant Date |
|  | Number of |  |  | Fair Value |  |  | Number of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 503,685 |  |  | $ | 11.14 |  |  |  | 396,033 |  |  | $ | 12.06 |
Granted |  |  | 391,836 |  |  | $ | 14.63 |  |  |  | 307,943 |  |  | $ | 10.40 |
Vested |  |  | (225,570 | ) |  | $ | 11.21 |  |  |  | (200,291 | ) |  | $ | 11.82 |
Forfeited |  |  | (91,057 | ) |  | $ | 13.27 |  |  |  | - |  |  | $ | - |
Outstanding - end of period |  |  | 578,894 |  |  | $ | 13.14 |  |  |  | 503,685 |  |  | $ | 11.14 |
Restricted stock - class A common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 462,632 |  |  | $ | 10.63 |  |  |  | 415,082 |  |  | $ | 10.15 |
Granted (1) |  |  | 220,080 |  |  | $ | 12.65 |  |  |  | 275,076 |  |  | $ | 10.84 |
Vested |  |  | (274,926 | ) |  | $ | 10.48 |  |  |  | (227,526 | ) |  | $ | 10.00 |
Outstanding - end of period |  |  | 407,786 |  |  | $ | 11.82 |  |  |  | 462,632 |  |  | $ | 10.63 |
Restricted stock units - common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 209,500 |  |  | $ | 15.70 |  |  |  |  |  |  |  |  |
Vested |  |  | (209,500 | ) |  | $ | 15.70 |  |  |  |  |  |  |  |  |
Outstanding - end of period |  |  | - |  |  | $ | - |  |  |  |  |  |  |  |  |
( 1 ) For awards subject to future performance conditions, amounts assume target performance. At September 30, 2018 and December 31, 2017, we had outstanding options to acquire 274,746 shares of our common stock, all of which were vested and exercisable. The exercise price of all our outstanding stock options is $1.99 per share. As of September 30, 2018 and December 31, 2017, we did not have any outstanding stock options for our Class A common stock. The aggregate intrinsic value of our outstanding stock options was $4.3 million based on the closing market price of our common stock on September 30, 2018.

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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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