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Note 13 - Share-based Compensation | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
13 . | SHARE-BASED COMPENSATION:
The Company has one active stock incentive plan for employees and directors, the 2007 Stock Incentive Plan, which provides for awards of stock options to purchase shares of common stock, stock appreciation rights, restricted and unrestricted shares of common stock, RSUs and PSAs. In addition, the Company had one inactive stock option plan, the 1995 Stock Option Plan for Nonemployee Directors, under which remaining previously granted options expired unexercised during the year ended December 31, 2017. The plans provide that options become exercisable according to vesting schedules, which range from immediate to ratably over a 60 -month period. Options terminate ten years from the date of grant. The plans also provide for other equity instruments, such as RSUs and PSAs, which grant the right to receive a specified number of shares over a specified period of time. RSUs are service-based awards and vest according to vesting schedules, which range from immediate to ratably over a three -year period. PSAs are service-based awards that vest according to the terms of the grant and may have performance- or market-based payout conditions. The following table summarizes share-based compensation expense recorded (in thousands):
|  | Year Ended December 31 , |
|  | 201 7 |  |  | 201 6 |  |  | 201 5 |
Cost of sale s |  | $ | 292 |  |  | $ | 422 |  |  | $ | 412 |
Selling, general and administrative expens e |  |  | 908 |  |  |  | 1,387 |  |  |  | 1,331 |
Loss from operations of discontinued operation s |  |  | - |  |  |  | (8 | ) |  |  | 31 |
Tota l |  | $ | 1,200 |  |  | $ | 1,801 |  |  | $ | 1,774 |
As of December 31, 2017, the remaining nominal amount of unrecognized compensation expense related to the unvested portion of the Company’s RSUs is expected to be recognized over a weighted-average period of one month. There were no options granted during the years ended December 31, 2017, 2016 or 2015. There were 589,142 shares of common stock available for future issuance under the Company’s stock compensation plan as of December 31, 2017. Stock Options Awards A summary of option activity under the Company’s stock option plans is presented below:
|  | Options Outstandin g |  |  | Weighted- Average Exercise Pric e |  |  | Weighted- Average Remaining Contractual Lif e |  |  | Aggregate Intrinsic Valu e |
|  |  |  |  |  |  |  |  |  | (in years ) |  |  | (in thousands ) |
Balance, December 31, 201 6 |  |  | 26,000 |  |  | $ | 24.97 |  |  |  |  |  |  |  |  |
Options grante d |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Options exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Options cancele d |  |  | (2,000 | ) |  |  | 34.77 |  |  |  |  |  |  |  |  |
Balance, December 31, 201 7 |  |  | 24,000 |  |  |  | 24.15 |  |  |  |  |  |  |  |  |
Exercisable, December 31, 201 7 |  |  | 24,000 |  |  |  | 24.15 |  |  |  | 2.24 |  |  | $ | - |
The total intrinsic value, defined as the difference between the current market value and the grant price, of options exercised during t he year ended December 31, 2015 was approximately $0. No options were exercised in 2017 or 2016. Restricted Stock Units and Performance Share Awards The Company estimates the fair value of RSUs and PSAs using the value of the Company ’s stock on the date of grant, with the exception of market-based PSAs, for which a Monte Carlo simulation model is used. A summary of activity under the Company’s RSUs and PSAs is presented below:
|  | Number of RSUs and PSAs (1 ) |  |  | Weighted- Average Grant Date Fair Valu e |
Unvested RSUs and PSAs as of December 31, 201 6 |  |  | 221,791 |  |  | $ | 17.36 |
RSUs and PSAs grante d |  |  | - |  |  |  | - |
Unvested PSAs cancele d |  |  | (46,988 | ) |  |  | 43.68 |
RSUs vested |  |  | (5,220 | ) |  |  | 36.00 |
Unvested RSUs as of December 31, 201 7 |  |  | 169,583 |  |  |  | 9.50 |
| ( 1 ) | The number of shares disclosed in this table are at the target level of 100%.
The unvested balance of RSUs and PSAs as of December 31, 2016 included approximately 47,000 market-based PSAs at a target level of performance. Vesting of these PSAs was dependent upon the performance of the market price of the Company’s stock relative to a peer group of companies. In the year ended December 31, 2017, these PSAs were canceled because the market-based conditions were not achieved, and the actual number of common shares that were issued was determined by multiplying the PSAs by a payout percentage of 0%. The weighted -average grant date fair value of RSUs granted during the year ended December 31, 2016 was $9.50. There were no RSUs granted during the years ended December 31, 2017 or 2015 and no PSAs granted during the years ended December 31, 2017, 2016 or 2015. The total fair value of RSUs and PSAs vested during the years ended December 31, 2017, 2016 and 2015 was $0.1 million, $0.1 million and $1.6 million, respectively. Stock Awards For t he years ended December 31, 2017, 2016 and 2015, stock awards of 14,944 shares, 27,640 shares and 10,464 shares, respectively, were granted to non-employee directors, which vested immediately upon issuance. The Company recorded compensation expense based on the weighted-average fair market value per share of the awards on the grant dates of $14.72 in 2017, $9.95 in 2016 and $21.02 in 2015.

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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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