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Note 5 - Stock-based Compensation

3 Months Ended

Mar. 31, 2024

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,
		2024				2023
Stock options		$	156			$	138
Restricted stock grants			5				1
Total		$	161			$	139

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, 2024, there was $699 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.3 years.

The following table summarizes stock option activity for the three-month period ended March 31, 2024:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Outstanding at January 1, 2024			1,250,595			$	7.10
Granted			3,460				6.84
Exercised			(103,839	)			6.60
Forfeited or expired			(86,356	)		$	8.96
Outstanding at March 31, 2024			1,063,860			$	7.00				4.22			$	2,258
Vested and expected to vest at March 31, 2024			964,552			$	7.07				4.06			$	1,987
Exercisable at March 31, 2024			604,537			$	7.50				2.92			$	1,018

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended March 31, 2024 and March 31, 2023 was $685 and $0, respectively.

Restricted stock awards vest in equal annual installments over three (3) years. Unrecognized compensation cost related to unvested restricted shares at March 31, 2024 and March 31, 2023, respectively, was $31 and $2.