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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2019
STOCK-BASED COMPENSATION PLANS |
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. 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. Shares available for granting options at each of the years ended December 31, 2019, 2018 and 2017 were 800,000. A summary of the activity of stock options for the years ended December 31, 2019, 2018 and 2017, is presented below (shares in thousands):
|  | 2019 |  | 2018 |  | 2017
|  |  |  | Weighted |  |  |  | Weighted |  |  |  | Weighted
|  | Shares |  | Average |  | Shares |  | Average |  | Shares |  | Average
|  | Under |  | Exercise |  | Under |  | Exercise |  | Under |  | Exercise
|  | Option |  | Price |  | Option |  | Price |  | Option |  | Price
Outstanding at Beginning of Period |  | — |  | $ | — |  | 11 |  | $ | 5.49 |  | 37 |  | $ | 5.49
Granted |  | — |  |  | — |  | — |  |  | — |  | — |  |  | —
Exercised |  | — |  |  | — |  | (10) |  |  | 5.49 |  | (26) |  |  | 5.49
Forfeited and cancelled |  | — |  |  | — |  | (1) |  |  | 5 |  | — |  |  | —
Outstanding at End of Period |  | — |  | $ | — |  | — |  | $ | — |  | 11 |  | $ | 5.49
Options exercisable at year end |  | — |  | $ | — |  | — |  | $ | — |  | 11 |  | $ | 5.49

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- Definition The entire disclosure for share-based payment arrangement. + 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 + Details
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