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Note 5 - Stock-based Compensation

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Shareholders' Equity and Share-based Payments [Text Block]

5.	*STOCK-BASED COMPENSATION*

We recorded non-cash stock compensation expense in each period as follows:

		Three-month period ended
		March 31,				March 31,
		2021				2020
Stock options		$	163			$	192
Restricted stock grants			21				38
Total		$	184			$	230

We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of March 31, 2021, there was $407 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 0.9 years.

The following table summarizes stock option activity for the three-month period ended March 31, 2021:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)			Aggregate Intrinsic Value
Outstanding at January 1, 2021			1,217,163			$	6.50
Granted			-				-
Exercised			(76,599	)			4.00
Forfeited or expired			(11,997	)			7.00
Outstanding at March 31, 2021			1,128,567			$	6.66			3.98			$	2,101
Vested and expected to vest at March 31, 2021			1,029,341			$	6.56			3.83			$	2,019
Exercisable at March 31, 2021			658,855			$	6.04			2.85			$	1,659

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended March 31, 2021 and March 31, 2020 was $31 and $29, respectively.

In October 2020, 5,000 shares of restricted stock were awarded to an employee at a weighted-average grant date fair value of $6.08 per share. In April 2019, 20,000 shares of restricted stock were awarded to certain of our employees at a weighted-average grant date fair value of $11.12 per share. In January 2018, 17,500 shares of restricted stock were awarded to certain of our employees at a weighted-average grant date fair value of $7.16 per share. All outstanding restricted shares vest in equal annual installments over three (3) years. Unrecognized compensation cost related to these restricted shares was $50 at March 31, 2021, which is expected to be recognized over a weighted average period of 1.8 years.