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SHARE-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2021
SHARE-BASED COMPENSATION [Abstract] |
SHARE-BASED COMPENSATION | 10. SHARE-BASED COMPENSATION As of March 31, 2021, the Company had 8,000 share-based awards authorized by shareholders and available for grant from the 2015 Equity Incentive Plan (the “2015 Plan”). The following table summarizes information related to the Company’s common stock options as of March 31, 2021:
|  |  |  | Weighted
|  | Number |  | Average
|  | of Stock |  | Exercise
|  | Options |  | Price
Options outstanding at January 1, 2021 |  | 3,183,708 |  | $ | 1.71
Granted |  | 32,027 |  |  | 3.93
Exercised |  | (67,616) |  |  | 2.29
Canceled/Forfeited |  | (8,000) |  |  | 1.73
Expired |  | — |  |  | —
Options outstanding at March 31, 2021 |  | 3,140,119 |  | $ | 1.72
Options exercisable at March 31, 2021 |  | 2,432,757 |  | $ | 1.63
Share-based compensation expense totaled $124,000 and $83,000 for the three-months ended March 31, 2021 and 2020, respectively. The expense for 2021 includes estimates for certain performance-based shares in connection with the employment agreement of Daniel R. Lee, the Company’s President and Chief Executive Officer, as well as his awarded stock options conditioned upon stockholders increasing the number of shares available for issuance under the 2015 Plan. As of March 31, 2021, there was approximately $0.8 million of unrecognized compensation cost related to unvested stock options previously granted that is expected to be recognized over a weighted-average period of approximately 2.0 years.

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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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