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STOCK-BASED COMPENSATION PLANS
 12 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
STOCK-BASED COMPENSATION PLANS
4. STOCK-BASED COMPENSATION PLANS
 
In accordance with the Company’s stock-based compensation plans, the Company may grant incentive stock options as well as non-qualified and other stock-related incentives to officers, employees and non-employee directors of the Company. Options vest ratably over a two to four-year period beginning on the grant date and expire ten years from the date of grant. Shares available for granting options at December 31, 2014, 2013 and 2012 were 600,000.
 
A summary of the activity of stock options for the years ended December 31, 2014, 2013 and 2012, is presented below (shares in thousands):
2014
2013
2012
Shares
Under
Option
Weighted
Average
Exercise
Price
Shares
Under
Option
Weighted
Average
Exercise
Price
Shares
Under
Option
Weighted
Average
Exercise
Price
Outstanding at Beginning of Period
104
$
5.60
206
$
5.83
360
$
5.71
Granted
--
--
--
--
--
--
Exercised
(32
 )
5.86
(102
)
6.07
(154
)
5.54
Forfeited and cancelled
--
--
--
--
--
--
Outstanding at End of Period
72
$
5.49
104
$
5.60
206
$
5.83
Options exercisable at year end
72
$
5.49
104
$
5.60
206
$
5.83
 
A summary of options outstanding under the Company’s stock-based compensation plans at December 31, 2014 is presented below (in thousands):
Exercise Price
Shares
Under
Option
Weighted
Average
Exercise Price
of
Options
Outstanding
Weighted
Average
Remaining Life
Options
Exercisable
Weighted
Average
Exercise Price
of
Shares
Exercisable
 Aggregate
Intrinsic
Value
$
5.49
72
$
5.49
3.85
72
$
5.49
$
1,102