XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.22.2

Note 3 - Stock-based Compensation | 6 Months Ended
--- | ---
Jun. 30, 2022
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 June 30, 2022 and 2021. There was no stock option activity during the three or six months ended June 30, 2022. The following table presents the activity during the six months ended June 30, 2022, related to awards of restricted stock:
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | average |
|  |  |  |  |  | Grant Date Fair |
|  | Units |  |  | Value Per Unit |
Nonvested at January 1, 2022 |  |  | 76,933 |  |  | $ | 23.01 |
Granted |  |  | 25,414 |  |  |  | 24.80 |
Vested |  |  | (25,263 | ) |  |  | 20.95 |
Forfeited |  |  | (13,438 | ) |  |  | - |
Nonvested at June 30, 2022 |  |  | 63,646 |  |  | $ | 24.34 |
Expected to vest as of June 30, 2022 |  |  | 52,068 |  |  | $ | 24.19 |
The Company recognizes restricted stock forfeitures in the period they occur. Share-based compensation (recovery) expense of ($162,000) and $97,000 was recognized for the three-month periods ended June 30, 2022, and 2021, respectively. Share-based compensation (recovery) expense of ($44,000) and $97,000 was recognized for the six-month periods ended June 30, 2022, and 2021, respectively. Expense recovery is the result of a decrease in the market valuation of the plans. Vesting of shares under the plan is contingent on a combination of service period and a market condition tied to the total shareholder return on the Company’s stock. A change in market conditions leads to adjustments to the probability of the market condition achievement, which results in changes in the liability and the 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 $340,000 and $594,000 on June 30, 2022, and 2021, 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 June 30, 2022 totals $543,000, of which $147,000 is estimated for the rest of 2022, $250,000 for 2023, $129,000 for 2024, and $17,000 for 2025.

X
- 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 https://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 https://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 https://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 https://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration