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Note 3 - Stock-based Compensation | 3 Months Ended
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Mar. 31, 2020
Notes to Financial Statements |
Compensation and Employee Benefit Plans [Text Block] | NOTE 3 - STOCK-BASED COMPENSATION The Company had no nonvested stock options outstanding as of March 31, 2020 and 2019. Stock option activity during the three months ended March 31, 2020 is as follows:
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | average |
|  |  |  |  |  | Exercise Price |
|  | Shares |  |  | Per Share |
Outstanding, January 1, 2020 |  |  | 14,500 |  |  | $ | 8.78 |
Exercised |  |  | (1,000 | ) |  |  | 8.78 |
Outstanding, March 31, 2020 |  |  | 13,500 |  |  | $ | 8.78 |
Exercisable, March 31, 2020 |  |  | 13,500 |  |  | $ | 8.78 |
The following table presents the activity during the three months ended March 31, 2020 related to awards of restricted stock:
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | average |
|  |  |  |  |  | Grant Date Fair |
|  | Units |  |  | Value Per Unit |
Nonvested at January 1, 2020 |  |  | 61,040 |  |  | $ | 21.73 |
Granted |  |  | 23,648 |  |  |  | 26.09 |
Nonvested at March 31, 2020 |  |  | 84,688 |  |  | $ | 22.94 |
Expected to vest as of March 31, 2020 |  |  | 1,000 |  |  | $ | 22.65 |
The Company recognizes restricted stock forfeitures in the period they occur. Share-based compensation expense of ( $408,000 ) and $90,000 was recognized for the three -month periods ended March 31, 2020 and 2019, respectively. The expense recorded as of March 31, 2020 is the result of the decrease in the market valuations of the plans. Vesting of shares under the plan is contingent on a combination of service period and a performance condition tied to the total shareholder return on the Company’s stock. Due to the change in market conditions during the quarter ended March 31, 2020, there was a significant decrease in the probability of the achievement of the performance condition which resulted in a decrease in the liability related to the Plan and a reversal of compensation expense. 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 $287,000 and $236,000 at March 31, 2020 and 2019, respectively. When the shares vest, the amount distributed in shares is transferred to common stock and the remainder is distributed in cash. Total unrecognized stock compensation cost related to nonvested share-based compensation on restricted stock as of March 31, 2020 totals $219,000, of which $94,000 is estimated for the rest of 2020, $88,000 for 2021, $34,000 for 2022, and $4,000 for 2023.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + 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 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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