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Stock Options and Restricted Stock Units | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Stock Options and Restricted Stock Units | NOTE 13 — STOCK OPTIONS AND RESTRICTED STOCK UNITS In January 2014, we granted 112,000 Restricted Stock Units (“RSUs”) to management and key employees, subject to the 2006 Plan. Under the terms of the RSU Award Agreements from January 2014, 25% of these RSUs vested immediately, with the remaining 75% to vest ratably over the next three years, pending each recipient’s continued employment by DGSE. On September 24, 2014, the Board awarded the three independent directors a total of 42,600 RSUs as compensation for their Board service. 100% of these RSUs vested on the day prior to DGSE’s 2015 Annual Meeting of Stockholders. On December 10, 2014, the Board awarded DGSE’s former Chief Executive Officer, James D. Clem, 75,000 RSUs as part of his compensation package. 100% of these RSUs vested immediately, and pursuant to this vesting, 75,000 shares of Common Stock were issued to Mr. Clem on December 18, 2014. On February 18, 2015, the Company issued 15,000 shares of Common Stock to management and key employees pursuant to the RSU Award Agreements. On December 7, 2016, our shareholders approved the adoption of the 2016 Equity Incentive Plan (the “2016 Plan”), which reserved 1,100,000 shares for issuance pursuant to awards issued thereunder. As of December 31, 2019, no awards had been made under the 2016 Plan. The following table summarizes the activity in common shares subject to options and warrants:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | average exercise |  |  |  |  |  | average exercise |
|  | Shares |  |  | price |  |  | Shares |  |  | price |
Outstanding at beginning or year |  |  | 15,000 |  |  | $ | 2.17 |  |  |  | 1,015,000 |  |  | $ | 0.67 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | (1,000,000 | ) |  |  | 0.65 |
Outstanding at end of year |  |  | 15,000 |  |  | $ | 2.17 |  |  |  | 15,000 |  |  | $ | 2.17 |
Options exercisable at end of year |  |  | 15,000 |  |  | $ | 2.17 |  |  |  | 15,000 |  |  | $ | 2.17 |
The 15,000 options exercisable at the end of the year are potential dilutive shares. Information about stock options outstanding at December 31, 2019 is summarized as follows:
|  | Options Outstanding and Exercisable |
|  |  |  |  | Weighted average |  |  |  |  |  |  |
|  |  |  |  | remaining |  |  | Weighted average |  |  | Aggregate |
|  | Number |  |  | contractual life |  |  | exercise |  |  | intrinsic |
Exercise price |  |  | outstanding |  |  |  | (Years) |  |  |  | price |  |  |  | value |
$ 2.13 |  |  | 10,000 |  |  |  | NA | (1) |  | $ | 2.13 |  |  | $ | - |
$ 2.25 |  |  | 5,000 |  |  |  | NA | (1) |  | $ | 2.25 |  |  | $ | - |
|  |  | 15,000 |  |  |  |  |  |  |  |  |  |  | $ | - |
(1) | Options currently issued pursuant to the Company’s 2004 Employee Stock Option Plans have no expiration date.
The aggregate intrinsic values in the above table were based on the closing price of our Common Stock of $1.35 as of December 31, 2019. A summary of the status of our non-vested RSU grants issued under our 2006 Plan is presented below:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | average exercise |  |  |  |  |  | average exercise |
|  | Shares |  |  | price |  |  | Shares |  |  | price |
Nionvested at beginning or year |  |  | 250 |  |  | $ | 0.56 |  |  |  | 500 |  |  | $ | 0.56 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | (250 | ) |  |  | 0.56 |
Outstanding at end of year |  |  | 250 |  |  | $ | 0.56 |  |  |  | 250 |  |  | $ | 0.56 |
As a result of the expiration of the 2006 Plan, as of December 31, 2019, no further shares could be issued under the 2006 Plan. As of January 1, 2020, the remaining 250 RSU grants have vested. A total of 1,100,000 shares remain available for future grants pursuant to the 2016 Plan. During 2019 and 2018, the Company did not recognize any stock-based compensation expense attributable to employees and directors.

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