XML 49 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stock-Based Compensation | 12 Months Ended
--- | ---
Dec. 31, 2013
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | E. Stock-Based Compensation The Company measures the cost of employee services in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the requisite service period, typically the vesting period. On August 4, 2011, the Company's stockholders approved the 2011 Incentive Plan. 500,000 shares of common stock are authorized for issuance under the 2011 Incentive Plan. The Company believes that such awards better align the interests of its employees with those of its shareholders. Option awards are generally granted with an exercise price equal to 10% above the market price of the Company's stock at the date of grant; those option awards generally have 5-year contractual terms and generally vest over three years. Restricted stock awards are granted at a value equal to the market price of the Company's common stock on the date of grant. The following table summarizes the inputs to the option valuation model for the options granted during the years ended December 31, 2013 and 2012:
|  | 2013 |  |  | 2012 |
Expected volatility |  |  | 66 | % |  |  | 79 | %
Dividend rate |  |  | 0 | % |  |  | 0 | %
Expected term (in years) |  |  | 3.45 |  |  |  | 3.45 |
Risk-free rate |  |  | 0.38 | % |  |  | 0.38 | %
Forfeiture rate |  |  | 5 | % |  |  | 0 | %
The Company bases expected volatility on the weighted average historical stock volatility. There is no dividend rate. The expected term utilizes historical data to estimate the period of time that the options are expected to remain unexercised. The Company bases risk-free rates on the U.S. Treasury zero-coupon rates with a remaining term equal to the expected term of the option. The Company also estimates forfeitures at the time of grant and revises, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Based upon past history of actual performance, a five percent and zero percent forfeiture rate has been assumed for options granted during 2013 and 2012, respectively. The following table summarizes information about stock options outstanding and exercisable at December 31, 2013 as well as activity during the year then ended:
|  | Number of Stock Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2012 |  |  | 130,000 |  |  |  | 18.65 |  |  |  | 2.6 |  |  |  | — |
Granted during 2013 |  |  | 62,401 |  |  |  | 7.26 |  |  |  | 4.3 |  |  |  | — |
Exercised during 2013 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited during 2013 |  |  | (14,540 | ) |  |  | 10.40 |  |  |  | 3.8 |  |  |  | — |
Expired during 2013 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at December 31, 2013 |  |  | 177,861 |  |  | $ | 15.33 |  |  |  | 3.1 |  |  | $ | — |
Exercisable at December 31, 2013 |  |  | 66,000 |  |  | $ | 20.23 |  |  |  | 2.5 |  |  | $ | — |
The weighted-average grant-date fair value of options granted during the years 2013 and 2012 was $2.33 and $2.44, respectively. The following table summarizes information about the Company's nonvested stock awards as of December 31, 2013, as well as activity during the year then ended:
|  | Number of Stock Awards |  |  | Weighted Average Grant Date Fair Value |
Nonvested at December 31, 2012 |  |  | 11,549 |  |  |  | 12.72 |
Granted during 2013 |  |  | 27,864 |  |  |  | 5.29 |
Vested during 2013 |  |  | (25,950 | ) |  |  | 7.56 |
Forfeited during 2013 |  |  | (1,475 | ) |  |  | 11.56 |
Nonvested at December 31, 2013 |  |  | 11,988 |  |  | $ | 6.74 |
As of December 31, 2013, there was approximately $273,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the 2011 Incentive Plan and 2001 Equity Incentive Plan. That cost is to be recognized over a weighted average period of 1.5 years. The total fair value of shares vested during the year ended December 31, 2013, was approximately $132,000. The 2011 Incentive Plan had 349,565 shares remaining available for future issuance at December 31, 2013.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration