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Note 12 - Share-based Compensation
 9 Months Ended
Sep. 30, 2024
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, 2024 and September 30, 2023 and no stock options were outstanding as of September 30, 2024 or September 30, 2023.

 

The following table summarizes the Company’s restricted stock unit and performance award activity during the nine months ended September 30, 2024: 

 

 

      

Weighted Average

 
  

Number of

  

Grant-Date Fair Value

 
  

Shares

  

Per Share

 

Unvested as of December 31, 2023

  687,206  $3.03 

Granted

  456,370  $2.72 

Vested

  (240,397) $3.41 

Forfeited

  (46,418) $2.98 

Unvested as of September 30, 2024

  856,761  $2.76 

 

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, 2024 and 2023, 46,668 and 92,984 shares, respectively, were withheld to cover 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, 2024 and 2023, as follows: 

 

  

Nine Months Ended September 30,

 
  

2024

  

2023

 

Share-based compensation expense:

        

Cost of sales

 $86  $94 

Selling, general and administrative

  721   555 

Net effect of share-based compensation expense on net income

 $807  $649 

Reduction in earnings per share:

        

Basic earnings per share

 $0.04  $0.03 

Diluted earnings per share

 $0.04  $0.03