XML 19 R9.htm IDEA: XBRL DOCUMENT v3.21.2
Note 4 - Accounting for Stock-based Compensation
3 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]

Note 4:   Accounting for Stock-Based Compensation

 

The Company records compensation expense associated with restricted stock in accordance with ASC Topic 718 (“Share Based Payment”) (ASU 2016-09). The compensation expense related to all of the Company’s stock-based compensation arrangements is recorded as a component of general and administrative expenses. The Company had 972,175 restricted common shares issued under the 2006 Employee Equity Compensation Restricted Stock Plan (“2006 Employee Plan”), 218,180 restricted common shares issued under the 2016 Employee Equity Compensation Restricted Stock Plan (“2016 Employee Plan” and collectively referred to with the 2006 Employee Plan as the “Employee Plans”), 272,000 restricted common shares issued under the 2006 Outside Director Equity Compensation Restricted Stock Plan (“2006 Director Plan”), and 173,880 restricted common shares issued under the 2015 Outside Director Equity Compensation Restricted Stock Plan (“2015 Director Plan”, and collectively referred to with the 2006 Director Plan as the “Director Plans”) at June 30, 2021, all shares of which were issued subject to a restriction or forfeiture period that lapses ratably on the first, second, and third anniversaries of the date of grant, and the fair value of which is being amortized over the one to three-year restriction period.

 

The Company issued 1,380 shares of restricted stock during the quarter ended June 30, 2021 and no shares were issued during the quarter ended June 30, 2020. For the quarters ended June 30, 2021 and 2020, the Company recognized $718,000 and $740,000, respectively, of compensation expense related to the Employee and Director Plans. At both June 30, 2021 and 2020, there was $1.9 million of unrecognized compensation cost related to the non-vested restricted stock awards, respectively, which is expected to be recognized over the next one to three years. On June 30, 2021 and 2020, there were 160,638 and 182,695 non-vested restricted shares, respectively.