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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock Options: A summary of option activity under our 1998 Stock Option Plan as of December 31, 2017, and changes during the nine months ended September 30, 2018 is presented below.
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2017 | 327,270 |  | $ | 20.21 |  | 4.28 |  | $ | 2,255
Exercised | (38,250) |  | 17.79 |  | — |  | 216
Canceled/Forfeited | (5,334) |  | 24.02 |  | — |  | 3
Outstanding, September 30, 2018 | 283,686 |  | $ | 20.46 |  | 3.83 |  | $ | 970
Exercisable, September 30, 2018 | 262,821 |  | $ | 19.85 |  | 3.47 |  | $ | 970
The following table summarizes information about our stock options outstanding at September 30, 2018:
Range of Exercise Prices | Options Outstanding |  |  |  |  |  | Options Exercisable |  |
| Shares |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$0.01-15.70 | 64,852 |  | 0.77 |  | $ | 9.75 |  | 64,852 |  | $ | 9.75
$15.71-17.81 | 42,000 |  | 1.82 |  | 17.54 |  | 42,000 |  | 17.54
$17.82-20.48 | 50,500 |  | 2.59 |  | 19.43 |  | 50,500 |  | 19.43
$20.49-33.36 | 126,334 |  | 6.57 |  | 27.35 |  | 105,469 |  | 27.19
| 283,686 |  | 3.83 |  | $ | 20.46 |  | 262,821 |  | $ | 19.85
The summary of the status of our unvested stock options as of December 31, 2017 and changes during the nine months ended September 30, 2018 is presented below.
Unvested stock options: | Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested at December 31, 2017 | 48,581 |  | $ | 11.41
Vested | (26,549) |  | 10.97
Canceled/Forfeited | (1,167) |  | 11.93
Unvested at September 30, 2018 | 20,865 |  | $ | 11.93
As of September 30, 2018, there was $158,759 of unrecognized compensation cost related to unvested options. Such cost is expected to be recognized over a weighted-average period of two years. Total compensation expense for stock options was $127,055 and $286,500 for the nine months ended September 30, 2018 and 2017, respectively. Restricted Shares/Units: In accordance with the Company's employment agreement with Stephen Taylor, the Company's Chief Executive Officer, the Compensation Committee reviewed his performance in determining the issuance of restricted common stock. Based on this review which included consideration of the Company's 2017 performance, Mr. Taylor, was awarded 84,700 restricted shares/units on March 15, 2018, which vest over three years, in equal annual installments, beginning March 15, 2019. On March 15, 2018, the Compensation Committee awarded 20,000 restricted shares/units to each of G. Larry Lawrence, our CFO, and James Hazlett, our Vice President of Technical Services. The restricted shares to Messrs. Lawrence and Hazlett vest over three years, in equal annual installments, beginning March 15, 2019. We also awarded and issued 16,288 shares of restricted common stock to the independent members of our Board of Directors as partial payment for 2018 services as directors. The restricted stock issued to our directors vests over one year, in quarterly installments, beginning March 31, 2019. Total compensation expense related to restricted awards was $1,602,265 and $2,945,020 for the nine months ended September 30, 2018 and 2017, respectively. As of September 30, 2018, there was a total of $3,242,095 of unrecognized compensation expense related to these shares/units which is expected to be recognized over the next three years.

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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://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
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