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

-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

options granted or exercised during the years ended

December

31,

2018,

2017,

2016.

Restricted Stock Units and Performance

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

(

)

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

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

RSUs granted during the years ended

December

31,

2018

2017

and

PSAs granted during the years ended

December

31,

2017

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

2018,

$14.72

2017,

and

$9.95

2016.