XML 28 R17.htm IDEA: XBRL DOCUMENT v3.21.2
STOCKHOLDERS’ EQUITY
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

10. STOCKHOLDERS’ EQUITY

 

Common Stock

 

The Company had 8,726,045 shares of common stock, $0.001 par value per share, outstanding as of June 30, 2021 and December 31, 2020.

 

Stock-Based Compensation

 

A summary of stock option activity under the 2011 Long-Term Incentive Plan as of June 30, 2021, and changes during the six months ended June 30, 2021, are presented below:

 

 

 

Stock Options

 

 

Weighted average

exercise price

 

 

Weighted average remaining contractual term

 

 

Aggregate intrinsic value

 

Outstanding as of January 1, 2021

 

 

440,400

 

 

$

6.58

 

 

 

5.80

 

 

$

155

 

Granted

 

 

236,667

 

 

 

3.31

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(3,400

)

 

 

12.00

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2021

 

 

673,667

 

 

$

5.41

 

 

 

6.90

 

 

$

542

 

Exercisable as of June 30, 2021

 

 

437,000

 

 

$

6.54

 

 

 

5.40

 

 

$

220

 

 

As of June 30, 2021, there were no shares available for future grants under the Company’s 2011 Long-Term Incentive Plan.

 

Stock-based compensation expense recorded for the three and six months ended June 30, 2021 was approximately $38 and $71, respectively. At June 30, 2021, the Company had total stock-based compensation expense remaining to be recognized in the consolidated statements of operations of approximately $191.

 

The Company’s 2011 Long-Term Incentive Plan expired during the three months ended June 30, 2021 and there was no plan in effect at June 30, 2021.

 

Cash Dividend Declared

 

On June 1, 2021, the board of directors of the Company declared a special cash dividend of $0.12 per common share, payable to shareholders of record as of June 22, 2021, to be paid on July 7, 2021. The Cash dividends paid in July of 2021 equal $0.12 per share on the $0.001 par value common stock resulting in an aggregate distribution of approximately $1.0 million representing a capital repayment paid from APIC.