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EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) (Tables) | 12 Months Ended
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Dec. 31, 2019
EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) |
Schedule of Related Exercise Prices |
​ | ​ | ​ | ​ | ​ | ​
Grant date |  | # of options |  | Exercise price
April 20, 2017 |  | 7,500 | ​ | $ | 11.70
Schedule of Stock Options Activity |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average
​ |  | Options |  | Exercise Price |  | Options |  | Exercise Price |  | Options |  | Exercise Price
Outstanding at beginning of the year |  | 2,751,000 | ​ | $ | 6.28 |  | 3,193,000 | ​ | $ | 6.07 |  | 3,362,350 | ​ | $ | 5.90
Issued |  | — | ​ |  | — |  | — | ​ |  | — |  | 7,500 | ​ |  | 11.70
Forfeited or rescinded |  | (2,500) | ​ |  | 11.70 |  | (249,000) | ​ |  | 6.09 |  | (11,450) | ​ |  | 10.12
Exercised |  | — | ​ |  | — |  | (193,000) | ​ |  | 2.96 |  | (165,400) | ​ |  | 2.63
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at end of year |  | 2,748,500 | ​ | $ | 6.28 |  | 2,751,000 | ​ | $ | 6.28 |  | 3,193,000 | ​ | $ | 6.07
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at end of year |  | 2,506,700 | ​ | $ | 5.78 |  | 2,323,900 | ​ | $ | 5.42 |  | 2,091,900 | ​ | $ | 4.85
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average fair value of options granted during the year | ​ | ​ | ​ | $ | — | ​ | ​ | ​ | $ | — | ​ | ​ | ​ | $ | 9.14
Schedule of Black-Scholes weighted-average assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Risk free interest rate |  | Expected life (years) |  | Dividend yield |  | Volatility |
April 20, 2017 |  | 1.78 | % | 6.5 |  | — |  | 94 | %
Schedule of Stock Options Outstanding | The following table summarizes information related to the Company’s stock options outstanding at December 31, 2019:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding | ​ | ​
​ |  | ​ |  | Weighted- |  | ​
​ | ​ | ​ | ​ | Average | ​ | ​
​ | ​ | ​ | ​ | Remaining | ​ | ​
​ | ​ | Number | ​ | Contractual Life | ​ | Number
Exercise price | ​ | Outstanding | ​ | (in years) | ​ | Exercisable
2.00 | ​ | 395,000 |  | 2.17 |  | 395,000
4.50 | ​ | 1,340,000 |  | 3.24 |  | 1,340,000
5.50 | ​ | 5,000 |  | 3.45 |  | 5,000
7.50 | ​ | 4,000 |  | 3.73 |  | 4,000
10.00 | ​ | 90,000 |  | 4.21 |  | 90,000
14.54 | ​ | 10,000 |  | 4.99 |  | 10,000
8.00 | ​ | 277,500 |  | 5.17 |  | 277,500
8.25 | ​ | 50,000 |  | 6.19 |  | 40,000
6.42 | ​ | 15,000 |  | 6.59 |  | 9,000
11.75 | ​ | 557,000 |  | 7.20 |  | 334,200
11.70 | ​ | 5,000 |  | 7.55 |  | 2,000
​ | ​ | 2,748,500 | ​ | 4.20 |  | 2,506,700
Schedule of Restricted Stock Shares Activity |
​ | ​ | ​
​ | ​ | # of shares of
Grant date |  | restricted stock
December 19, 2017 | ​ | 330,900
April 4, 2018 |  | 2,000
September 27, 2018 |  | 2,500
December 26, 2018 |  | 615,380
April 9, 2019 | ​ | 10,400
May 30, 2019 | ​ | 5,000
July 9, 2019 | ​ | 5,000
September 13, 2019 | ​ | 10,000
December 21, 2019 | ​ | 627,205
Schedule of Restricted Stock Grants |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 |  | 2017
​ |  | ​ |  | Weighted- |  | ​ |  | ​ | ​ |  | ​ |  | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Grant | ​ | ​ | ​ | Weighted- |  | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | Date Fair | ​ | ​ | ​ | Average Grant |  | ​ | ​ | Average Grant
​ | ​ | Restricted stock | ​ | Value | ​ | Restricted stock | ​ | Date Fair Value | ​ | Restricted stock | ​ | Date Fair Value
Outstanding at beginning of the year |  | 878,360 |  | $ | 7.33 |  | 330,900 |  | $ | 13.44 | ​ | — | ​ | $ | —
Granted |  | 657,605 |  |  | 2.63 |  | 619,880 |  |  | 4.78 | ​ | 330,900 | ​ | ​ | 13.44
Forfeited or rescinded |  | (6,940) |  |  | 4.23 |  | (7,800) |  |  | 13.44 | ​ | — | ​ | ​ | —
Vested |  | (187,136) |  |  | 7.79 |  | (64,620) |  |  | 13.44 | ​ | — | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at end of year |  | 1,341,889 |  | $ | 4.99 |  | 878,360 |  | $ | 7.33 | ​ | 330,900 | ​ | $ | 13.44
Schedule of contributions expense | ​
​ | ​ | ​
​ |  | 2019
Employer safe harbor match |  | 59,716

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