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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | 4. Stock-Based Compensation During the nine-month period ended September 30, 2021, 1,000 stock options were granted at a price of $26.35 per share, and 1,000 stock options were granted at a price of $25.38 per share. As of September 30, 2021, there was $53,000 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 $160,000 and $153,000 during the nine-month periods ended September 30, 2021 and 2020, respectively. A summary of the Company’s stock option activity for the nine-month period ended September 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 6.0Yrs. $ 743Granted 2,000 25.87 9.4 Exercised (9,620) 18.85 2.4 Forfeited (8,250) 33.72 7.3 Outstanding at September 30, 2021 200,100 $ 25.73 5.4 Yrs. $ 612Exercisable at September 30, 2021 164,350 $ 25.48 4.6 Yrs. $ 612 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 $25.50 per share as of September 30, 2021 and $26.17 per share as of December 31, 2020. A summary of the Company’s restricted stock activity for the nine-month periods ended September 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 ValueNon-vested, January 1, 39,135 $ 30.72 36,195 $ 31.65Granted — — — —Vested — — — —Forfeited (3,900) 30.86 — —Non-vested, September 30, 35,235 $ 30.71 36,195 $ 31.65 The expected future compensation expense relating to the 35,235 shares of non-vested restricted stock outstanding as of September 30, 2021 is $830,000. This cost will be recognized over the remaining vesting period of 4.25 years. Compensation costs related to restricted stock amounted to $251,000 and $250,000 during the nine-month periods ended September 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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