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Note 3 - Stock-based Compensation
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Compensation and Employee Benefit Plans [Text Block]
NOTE
3
- STOCK-BASED COMPENSATION
 
The Company had
no
unvested stock options outstanding as of
March 31, 2019
and
2018.
 
Stock option activity during the
three
months ended
March 31, 2019
is as follows:
 
           
Weighted-
  
           
average
  
           
Exercise Price
  
   
Shares
    
Per Share
  
                 
Outstanding, January 1, 2019
    
7,450
     $
17.55
  
                 
Outstanding, March 31, 2019
    
7,450
     $
17.55
  
                 
Exercisable, March 31, 2019
    
7,450
     $
17.55
  
 
 
The following table presents the activity during the
three
months ended
March 31, 2019
related to awards of restricted stock:
 
           
Weighted-
  
           
average
  
           
Grant Date Fair
  
   
Units
    
Value Per Unit
  
                 
Nonvested at January 1, 2019
    
21,072
     $
41.96
  
Granted
    
14,565
      
41.90
  
Vested
    
(4,970
 )    
32.40
  
Nonvested at March 31, 2019
    
30,667
     $
43.48
  
                 
Expected to vest at March 31, 2019
    
20,715
     $
41.22
  
 
The Company recognizes restricted stock forfeitures in the period they occur.
 
Share-based compensation expense of
$90,000
and
$55,000
was recognized for the
three
-month periods ended
March 31, 2019
and
2018,
respectively. Since the shares of restricted stock are historically paid out at the vesting date in a combination of shares and cash, the Company has recorded a liability related to this plan which totals
$236,000
and
$426,000
at
March 31, 2019
and
2018,
respectively.
 
The expected remaining compensation expense that will be recognized on restricted stock totals
$351,000,
of which
$113,000
will be recognized in
2019,
$110,000
will be recognized in
2020,
$110,000
will be recognized in
2021,
and
$18,000
will be recognized in
2022.