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Note 12 - Share-based Compensation
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

NOTE 12 — SHARE-BASED COMPENSATION 

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There was no stock option activity during the nine months ended September 30, 2023 and no stock options were outstanding as of September 30, 2023. 

 

The following table summarizes the Company’s restricted stock unit and performance award activity during the nine months ended September 30, 2023: 

 

 

      

Weighted Average

 
  

Number of

  

Grant-Date Fair Value

 
  

Shares

  

Per Share

 

Unvested as of December 31, 2022

  822,737  $2.37 

Granted

  342,104  $4.10 

Vested

  (324,926) $2.13 

Forfeited

  (48,063) $3.13 

Unvested as of September 30, 2023

  791,852  $3.53 

 

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, 2023, 92,984 shares were withheld to cover $117 of tax obligations. For the nine months ended September 30, 2022, 280,175 shares were withheld to cover $546 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, 2023 and 2022, as follows: 

 

  

Nine Months Ended September 30,

 
  

2023

  

2022

 

Share-based compensation expense:

        

Cost of sales

 $94  $106 

Selling, general and administrative

  555   1,079 

Net effect of share-based compensation expense on net income

 $649  $1,185 

Reduction in earnings per share:

        

Basic earnings per share

 $0.03  $0.06 

Diluted earnings per share

 $0.03  $0.06