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Note 11 - Share-based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Text Block]

NOTE 11 — SHARE-BASED COMPENSATION

There was no stock option activity during the nine months ended September 30, 2021 and no stock options were outstanding as of September 30, 2021.

The following table summarizes the Company’s restricted stock unit and performance award activity during the nine months ended September 30, 2021:

				*Weighted Average*
	*Number of*			*Grant-Date Fair Value*
	*Shares*			*Per Share*
Unvested as of December 31, 2020		1,332,884		$	1.86
Granted		393,592		$	4.82
Vested		(691,994	)	$	1.93
Forfeited		(108,144	)	$	2.95
Unvested as of September 30, 2021		926,338		$	2.74

Under certain situations, shares are withheld from issuance to cover taxes for the vesting of restricted stock units and performance awards. For the nine months ended September 30, 2021, 233,153 of such shares were withheld to cover $1,503 of tax obligations.

The following table summarizes share-based compensation expense included in the Company’s condensed consolidated statements of operations for the nine months ended September 30, 2021 and 2020, as follows:

	*Nine Months Ended September 30,*
	*2021*		*2020*
Share-based compensation expense:
Cost of sales	$	103	$	74
Selling, general and administrative		754		689
Net effect of share-based compensation expense on net income	$	857	$	763
Reduction in earnings per share:
Basic earnings per share	$	0.05	$	0.05
Diluted earnings per share	$	0.04	$	0.04