XML 53 R26.htm IDEA: XBRL DOCUMENT

Stock Plans (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Weighted-Average Fair-Value and Vesting of Restricted Stock Grants



	March 31, 2020				March 31, 2019
			Weighted-				Weighted-
			average				average
	Shares		grant date		Shares		grant date
	granted		fair value		granted		fair value

Director plan	6,000	(3)	$	56.63	5,600	(2)	$	54.69
Omnibus plan	11,761	(3)		55.06	7,251	(2)		54.69
Omnibus plan	50	(1)		57.62	50	(1)		58.08
Total	17,811		$	55.59	12,901		$	54.70

(1) Vest after 1 year (2) Vest after 3 years – 33% each year (3) Vest fully after 3 years

Schedule of Non-Vested Restricted Stock Units Activity



	2012 Stock incentive plans
	Director	Omnibus	Total		Weighted- average grant date fair value
Non-vested balance at December 31, 2019	11,200	15,961	27,161	$	49.48
Granted	6,000	11,811	17,811		55.59
Vested	(4,664)	(7,597)	(12,261)		46.94
Non-vested balance at March 31, 2020	12,536	20,175	32,711	$	53.76

Schedule of SSARs Activity



	Awards		Weighted-average grant date fair value	Weighted-average remaining contractual term (years)
Outstanding December 31, 2019	97,264	$	9.47	7.5
Granted	-		-
Exercised	-		-
Forfeited	-		-
Outstanding March 31, 2020	97,264	$	9.47	7.2

Of the SSARs outstanding at March 31, 2020, 76,897 vested and were exercisable. SSARs vest over a three-year period – 33% per year.

Schedule of Compensation Cost for Share-Based Payment Arrangements, Allocation of Share-Based Compensation Costs by Plan



	Three months ended March 31,
(dollars in thousands)	2020			2019
Stock-based compensation expense:
Director stock incentive plan	$	78	$	59
Omnibus stock incentive plan		170		148
Employee stock purchase plan		27		107
Total stock-based compensation expense	$	275	$	314

In addition, during the three months ended March 31, 2020, the Company reversed accruals of ($32 thousand) in stock-based compensation expense for restricted stock and SSARs awarded under the Omnibus Plan. During the three months ended March 31, 2019, the Company reversed accruals of ($35 thousand) in stock-based compensation expense.

Schedule of Unrecognized Compensation Cost, Non-Vested Awards


	As of
(dollars in thousands)	March 31, 2020
Unrecognized stock-based compensation expense:
Director plan	$	626
Omnibus plan		1,262
Total unrecognized stock-based compensation expense	$	1,888

The unrecognized stock-based compensation expense as of March 31, 2020 will be recognized ratably over the periods ended January 2023 and January 2023 for the Director Plan and the Omnibus Plan, respectively.