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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2017
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, 2017, 2016 and 2015 were 800,000, 0 and 0, respectively. Equity incentive awards were previously granted under the Company’s 2005 Equity Incentive Plan; however this plan expired on April 27, 2015. At the Annual Meeting of Shareholders of the Company held on May 26, 2017, the Company’s shareholders voted to approve the Miller Industries, Inc. 2016 Stock Incentive Plan, pursuant to which 800,000 shares of common stock are available for issuance pursuant to awards granted under the plan. No awards may be granted under the Company’s 2016 Stock Incentive Plan on or after August 1, 2026. A summary of the activity of stock options for the years ended December 31, 2017, 2016 and 2015, is presented below (shares in thousands):
|  | 2017 |  |  | 2016 |  |  | 2015 |
|  | 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 |  |  | 37 |  |  | $ | 5.49 |  |  |  | 38 |  |  | $ | 5.49 |  |  |  | 72 |  |  | $ | 5.49 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | (26 | ) |  |  | 5.49 |  |  |  | (1 | ) |  |  | 5.49 |  |  |  | (34 | ) |  |  | 5.49 |
Forfeited and cancelled |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at End of Period |  |  | 11 |  |  | $ | 5.49 |  |  |  | 37 |  |  | $ | 5.49 |  |  |  | 38 |  |  | $ | 5.49 |
Options exercisable at year end |  |  | 11 |  |  | $ | 5.49 |  |  |  | 37 |  |  | $ | 5.49 |  |  |  | 38 |  |  | $ | 5.49 |
A summary of options outstanding under the Company’s stock-based compensation plans at December 31, 2017 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 |  |  |  | 11.0 |  |  | $ | 5.49 |  |  |  | 0.86 |  |  |  | 11.0 |  |  | $ | 5.49 |  |  | $ | 223 |

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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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