XML 36 R22.htm IDEA: XBRL DOCUMENT
v3.19.1

Note 13 - Share-based Compensation | 12 Months Ended
--- | ---
Dec. 31, 2018
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- and/or market-based payout conditions. The following table summarizes share-based compensation expense recorded (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Cost of sales |  | $ | 12 |  |  | $ | 292 |  |  | $ | 422 |
Selling, general, and administrative expense |  |  | 269 |  |  |  | 908 |  |  |  | 1,387 |
Loss from operations of discontinued operations |  |  | - |  |  |  | - |  |  |  | (8 | )
Total |  | $ | 281 |  |  | $ | 1,200 |  |  | $ | 1,801 |
There were 537,978 shares of common stock available for future issuance under the Company’s stock compensation plan as of December 31, 2018. Stock Options 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, December 31, 2018 |  |  | 24,000 |  |  |  | 24.15 |  |  |  |  |  |  |  |  |
Exercisable, December 31, 2018 |  |  | 24,000 |  |  |  | 24.15 |  |  |  | 1.24 |  |  | $ | - |
There were no options granted or exercised during the years ended December 31, 2018, 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 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 December 31, 2018 |  |  | 39,992 |  |  |  | 19.97 |
| ( 1 ) | The number of shares disclosed in this table are at the target level of 100%.
The unvested balance of PSAs as of December 31, 2018 is comprised of 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 December 31, 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 December 31, 2018 was $0. The weighted-average grant date fair value of PSAs granted during the year ended December 31, 2018 was $19.97, as shown in the table above. 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, 2018 or 2017 and no PSAs granted during the years ended December 31, 2017 or 2016. The total fair value of RSUs and PSAs vested during the years ended December 31, 2018, 2017, and 2016 was $1.6 million, $0.1 million, and $0.1 million, respectively. Stock Awards For the years ended December 31, 2018, 2017, and 2016, stock awards of 11,172 shares, 14,944 shares, and 27,640 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 date of $21.48 in 2018, $14.72 in 2017, and $9.95 in 2016.

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