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Note 11 - Share-based Compensation
 3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

NOTE 11 — SHARE-BASED COMPENSATION 

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There was no stock option activity during the three months ended March 31, 2022 and no stock options were outstanding as of March 31, 2022. 

 

The following table summarizes the Company’s restricted stock unit and performance award activity during the three months ended March 31, 2022: 

 

      

Weighted Average

 
  

Number of

  

Grant-Date Fair Value

 
  

Shares

  

Per Share

 

Unvested as of December 31, 2021

  918,448  $2.73 

Granted

  187,005  $1.92 

Vested

  (480,595) $1.92 

Forfeited

  (1,667) $1.91 

Unvested as of March 31, 2022

  623,191  $3.10 

 

Under certain situations, shares are withheld from issuance to cover taxes for the vesting of restricted stock units and performance awards. For the three months ended March 31, 2022, 194,962 shares were withheld to cover $411 of tax obligations. 

 

The following table summarizes share-based compensation expense included in the Company’s condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021, as follows: 

 

  

Three Months Ended March 31,

 
  

2022

  

2021

 

Share-based compensation expense:

        

Cost of sales

 $24  $26 

Selling, general and administrative

  168   193 

Net effect of share-based compensation expense on net income

 $192  $219 

Reduction in earnings per share:

        

Basic earnings per share

 $0.01  $0.01 

Diluted earnings per share

 $0.01  $0.01