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Restricted Stock, Stock Options and Other Stock Plans | 12 Months Ended
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Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Restricted Stock, Stock Options and Other Stock Plans | 14. RESTRICTED STOCK, STOCK OPTIONS AND OTHER STOCK PLANS On December 14, 2004, the Company adopted the 2004 Long-Term Compensation Plan (the “Plan”). The Plan provides for the issuance of stock options, stock appreciation rights, or SARs, restricted stock, deferred stock, dividend equivalents, bonus stock and awards in lieu of cash compensation, other stock-based awards and performance awards. Any shares issued under the Plan typically vest over service periods that range from one to five years. Stock options issued under the plan expire 10 years from the date they are granted. The Plan authorized 1.0 million shares of our Class A Common Stock with an automatic annual increase on January 1 of each successive year of the lesser of (i) 3% of the Class A common stock outstanding or (ii) 107 shares. As of December 31, 2018 and 2017, there were 0.06 million and 0.4 million shares, respectively, available for issuance under the Plan (as amended). The fair value of each option award is calculated on the date of grant using the Black-Scholes option pricing model and certain subjective assumptions. Expected volatilities are calculated based on our historical trading activities. We estimate forfeitures using a weighted average historical forfeiture rate. We recognize forfeitures as they occur. The risk-free rate for the periods is based on the U.S. Treasury rates in effect at the time of grant. The expected term of options is based on the simplified method which assumes that the option will be exercised midway between the vesting date and the contractual term of the option. The Company is able to use the simplified method as the options qualify as “plain vanilla” options as defined by ASC 718, Stock Compensation . The following table summarizes the assumptions used to calculate the fair value of options during 2018 and 2017.
|  | 2018 |  |  | 2017 |
Weighted average fair value of options granted |  | $ | 1.80 |  |  | $ | 1.20 |
Dividend yields |  |  | — |  |  |  | — |
Expected volatility |  | 72.21%-83.47% |  |  | 70.60%-79.40% |
Weighted average expected volatility |  | 81.76% |  |  | 72.73% |
Risk free interest rates |  | 2.74% |  |  | 2.15% |
Weighted average expected term (in years) |  |  | 6 |  |  |  | 6 |
The following table summarizes information about stock option activity:
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2017 |  |  | 112 |  |  | $ | 8.16 |  |  |  |  |  |  |  |  |
Granted |  |  | 345 |  |  |  | 1.89 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | (21 | ) |  |  | 7.06 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | 436 |  |  | $ | 3.25 |  |  |  | 8.50 |  |  |  | — |
Granted |  |  | 84 |  |  |  | 2.90 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | (102 | ) |  |  | 2.28 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2018 |  |  | 418 |  |  | $ | 3.42 |  |  |  | 7.67 |  |  | $ | 9 |
Exercisable at December 31, 2018 |  |  | 179 |  |  | $ | 5.10 |  |  |  | 6.18 |  |  | $ | 2 |
As of December 31, 2018 and 2017, the weighted-average remaining contractual term of unexercised stock options was 7.7 years and 8.5 years, respectively. A summary of the Company’s restricted share activity is presented below:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Restricted nonvested at January 1, 2017 |  |  | 20 |  |  | $ | 1.89 |
Granted |  |  | 245 |  |  |  | 2.13 |
Vested |  |  | (22 | ) |  |  | 1.88 |
Forfeited or Expired |  |  | — |  |  |  | — |
Outstanding at December 31, 2017 |  |  | 243 |  |  | $ | 2.16 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (68 | ) |  |  | 2.13 |
Forfeited or Expired |  |  | (37 | ) |  |  | 2.11 |
Nonvested at December 31, 2018 |  |  | 138 |  |  | $ | 2.18 |
As of December 31, 2018 and 2017, there was $0.3 million and $0.6 million, respectively, of unrecognized compensation cost related to stock options and restricted stock issuances granted under the Plan. The Company intends to issue new shares of its common stock upon vesting of restricted stock grants or the exercise of stock options. In November 2014, our board of directors approved a share repurchase program authorizing the Company to repurchase up to 429 thousand shares of our Class A common stock in one or more open market or privately negotiated transactions depending on market price and other factors. At December 31, 2018 and 2017, 404 thousand shares of our Class A common stock remain available for repurchase pursuant to our share repurchase agreement.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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