XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Note 8 - Share-based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2018
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
8 . | 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, restricted stock units (“RSUs”) and performance share awards (“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 Company recognizes the compensation cost of employee and director services received in exchange for awards of equity instruments based on the grant date estimated fair value of the awards. Share-based compensation cost is recognized over the period during which the employee or director is required to provide service in exchange for the award and, as forfeitures occur, the associated compensation cost recognized to date is reversed. For awards with performance-based payout conditions, the Company recognizes compensation cost based on the probability of achieving the performance conditions, with changes in expectations recognized as an adjustment to earnings in the period of change. Any recognized compensation cost is reversed if the conditions are ultimately not met. The following table summarizes share-based compensation expense recorded (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Cost of sales |  | $ | - |  |  | $ | 70 |  |  | $ | 12 |  |  | $ | 221 |
Selling, general and administrative expense |  |  | - |  |  |  | 167 |  |  |  | 269 |  |  |  | 742 |
Total |  | $ | - |  |  | $ | 237 |  |  | $ | 281 |  |  | $ | 963 |
Stock Option Awards A summary of option activity under the Company’s stock option plans is presented below:
|  | Options Outstanding |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life |  |  | Aggregate Intrinsic Value |
|  |  |  |  |  |  |  |  |  | (in years) |  |  | (In thousands) |
Balance, December 31, 2017 |  |  | 24,000 |  |  | $ | 24.15 |  |  |  |  |  |  |  |  |
Options granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Options exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Options canceled |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Balance, September 30, 2018 |  |  | 24,000 |  |  |  | 24.15 |  |  |  |  |  |  |  |  |
Exercisable, September 30, 2018 |  |  | 24,000 |  |  |  | 24.15 |  |  |  | 1.50 |  |  | $ | - |
Restricted Stock Units and Performance Share Awards RSUs and PSAs are measured at the estimated fair value on the date of grant. 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- and/or market-based payout conditions. 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 Value |
Unvested RSUs as of December 31, 2017 |  |  | 169,583 |  |  | $ | 9.50 |
PSAs granted |  |  | 43,077 |  |  |  | 19.97 |
Unvested PSAs canceled |  |  | (3,085 | ) |  |  | 19.97 |
RSUs vested |  |  | (169,583 | ) |  |  | 9.50 |
Unvested PSAs as of September 30, 2018 |  |  | 39,992 |  |  |  | 19.97 |
| ( 1 ) | The number of performance share awards disclosed in this table are at the target level of 100%.
The unvested balance of PSAs as of September 30, 2018 includes approximately 40,000 performance-based PSAs at a target level of performance. The vesting of these awards is subject to the achievement of specified performance-based conditions, and the actual number of common shares that will ultimately be issued will be determined by multiplying this number of PSAs by a payout percentage ranging from 0% to 200%. As of September 30, 2018, the Company has determined that the likelihood of achieving the specified performance-based conditions in the PSAs is remote; therefore, the unrecognized compensation expense with respect to these performance-based PSAs as of September 30, 2018 was $0. Stock Awards For the nine months ended September 30, 2018 and 2017, stock awards of 11,172 and 14,944 shares, respectively, were granted to non-employee directors, which vested immediately upon issuance. The Company recorded compensation expense based on the fair market value per share of the awards on the grant date of $21.48 and $14.72 in 2018 and 2017, respectively.

X
- 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
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration