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Note 11 - Share-based Compensation
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2022 and no stock options were outstanding as of June 30, 2022. 

 

The following table summarizes the Company’s restricted stock unit and performance award activity during the six months ended June 30, 2022: 

 

      

Weighted Average

 
  

Number of

  

Grant-Date Fair Value

 
  

Shares

  

Per Share

 

Unvested as of December 31, 2021

  918,448  $2.72 

Granted

  734,077  $1.75 

Vested

  (808,734) $2.23 

Forfeited

  (13,901) $2.82 

Unvested as of June 30, 2022

  829,890  $2.38 

 

Under certain situations, shares are withheld from issuance to cover taxes for the vesting of restricted stock units and performance awards. For the six months ended June 30, 2022, 277,908 shares were withheld to cover $544 of tax obligations. 

 

The following table summarizes share-based compensation expense included in the Company’s condensed consolidated statements of operations for the six months ended June 30, 2022 and 2021, as follows: 

 

  

Six Months Ended June 30,

 
  

2022

  

2021

 

Share-based compensation expense:

        

Cost of sales

 $83  $76 

Selling, general and administrative

  497   588 

Net effect of share-based compensation expense on net income

 $580  $664 

Reduction in earnings per share:

        

Basic earnings per share

 $0.03  $0.04 

Diluted earnings per share

 $0.03  $0.04