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Note 5 - Stock-based Compensation

9 Months Ended

Sep. 30, 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								Nine-month period ended
		September 30,				September 30,				September 30,				September 30,
		2024				2023				2024				2023
Stock options		$	164			$	130			$	472			$	421
Restricted stock			6				1				18				3
Total		$	170			$	131			$	490			$	424

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 September 30, 2024, there was $394 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 0.8 years.

The following table summarizes stock option activity for the nine-month period ended September 30, 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			(291,841	)			7.11
Forfeited or expired			(97,360	)		$	8.61
Outstanding at September 30, 2024			864,854			$	6.93				4.08			$	1,891
Vested and expected to vest at September 30, 2024			772,369			$	7.01				3.93			$	1,630
Exercisable at September 30, 2024			433,028			$	7.58				2.67			$	696

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended September 30, 2024 and September 30, 2023 was $24 and $979, respectively. Cash received from stock option exercises under our stock-based compensation plans for the nine-month periods ended September 30, 2024 and September 30, 2023 was $1,960 and $1,041, respectively.

Restricted stock awards vest in equal annual installments over three (3) years. Unrecognized compensation cost related to unvested restricted shares at September 30, 2024 and September 30, 2023, respectively, was $19 and $0.