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Note 6 - Stock-based Compensation

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

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

6.	*STOCK-BASED COMPENSATION*

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

		Three-month period ended								Six-month period ended
		June 30,				June 30,				June 30,				June 30,
		2022				2021				2022				2021
Stock options		$	181			$	174			$	362			$	337
Restricted stock grants			3				12				11				33
Total		$	184			$	186			$	373			$	370

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 June 30, 2022, there was $516 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.0 years.

The following table summarizes stock option activity for the six-month period ended June 30, 2022:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Outstanding at January 1, 2022			1,306,824			$	6.87
Granted			5,000				4.68
Exercised			(58,750	)			3.81
Forfeited or expired			(44,834	)			6.76
Outstanding at June 30, 2022			1,208,240			$	7.01				4.07			$	33
Vested and expected to vest at June 30, 2022			1,103,948			$	7.01				3.93			$	33
Exercisable at June 30, 2022			717,956			$	7.06				2.93			$	33

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended June 30, 2022 and June 30, 2021 was $0 and $283, respectively.

Outstanding restricted shares vest in equal annual installments over three (3) years. There were 5,000 unvested restricted shares outstanding as of June 30, 2022. Unrecognized compensation cost related to these restricted shares was $6 at June 30, 2022, which is expected to be recognized over a weighted average period of 1.3 years.