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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2021
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | 4. Stock-Based Compensation During the six-month period ended June 30, 2021, 1,000 stock options were granted at a price of $26.35 per share. As of June 30, 2021, there was $107,000 of total unrecognized compensation cost related to non-vested options granted in 2020 under the 2014 Equity Incentive Plan, which will be fully amortized by December 31, 2021. Compensation costs related to stock options amounted to $107,000 and $102,000 during the six-month periods ended June 30, 2021 and 2020, respectively. A summary of the Company’s stock option activity for the six-month period ended June 30, 2021 is as follows:
|  |  | Weighted |  |  |  |  |
|  |  | Average Exercise |  | Weighted Average |  | Aggregate
|  |  | Price |  | Remaining |  | Intrinsic Value
| Options |  | Per Share |  | Contractual Term |  | ($000)
Outstanding at January 1, 2021 | 215,970 |  | $ | 25.73 |  | 6.0 | Yrs. |  | $ | 743
Granted | 1,000 |  |  | 26.35 |  | 10.0 |  |  |  |
Exercised | (8,970) |  |  | 18.91 |  | 2.4 |  |  |  |
Forfeited | (2,250) |  |  | 33.72 |  | 7.7 |  |  |  |
Outstanding at June 30, 2021 | 205,750 |  | $ | 25.94 |  | 5.7 | Yrs. |  | $ | 662
Exercisable at June 30, 2021 | 171,000 |  | $ | 25.75 |  | 4.9 | Yrs. |  | $ | 662
Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option. The market price was $26.00 per share as of June 30, 2021 and $26.17 per share as of December 31, 2020. A summary of the Company’s restricted stock activity for the six-month periods ended June 30, 2021 and 2020 is as follows:
| 2021 |  | 2020
|  |  | Weighted-Average |  |  |  |  | Weighted-Average
| Number of |  | Grant Date |  | Number of |  | Grant Date
| Restricted Stock |  | Fair Value |  | Restricted Stock |  | Fair Value
Non-vested, January 1, | 39,135 |  | $ | 30.72 |  | 36,195 |  | $ | 36.23
Granted | — |  |  | — |  | — |  |  | —
Vested | — |  |  | — |  | — |  |  | —
Forfeited | (3,900) |  |  | 30.86 |  | — |  |  | —
Non-vested, June 30, | 35,235 |  | $ | 30.71 |  | 36,195 |  | $ | 36.23
The expected future compensation expense relating to the 35,235 shares of non-vested restricted stock outstanding as of June 30, 2021 is $914,000. This cost will be recognized over the remaining vesting period of 4.5 years. Compensation costs related to restricted stock amounted to $167,000 and $167,000 during the six-month periods ended June 30, 2021 and 2020, respectively.

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- Definition The entire disclosure for share-based payment arrangement. + 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 + Details
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