STOCK OWNERSHIP PLANS

Total non-cash stock compensation expense is $1,857,000, $2,088,000 and $2,306,000, in 2018, 2017 and 2016, respectively.

At September 30, 2018, we have reserved 3,230,069 shares of Common Stock for issuance to employees under an incentive and nonstatutory stock option and restricted stock plan approved by stockholders of which 2,130,019 shares are available for granting of non-qualified stock options or issuance of restricted Common Stock.

Stock Options

Options are granted at a price equal to the fair market value on the date of the grant and are exercisable, upon vesting, over a ten-year period.

A summary of stock option activity is as follows:



(Thousands of Shares)	2018		2017		2016

Under option, beginning of year	1,271		1,698		1,871
Exercised	(131	)	(339	)	(74	)
Canceled	(40	)	(88	)	(99	)
Under option, end of year	1,100		1,271		1,698
Exercisable, end of year	1,100		1,271		1,692

Weighted average prices of stock options are as follows:



(Dollars)	2018	2017	2016

Exercised	1.42	1.53	1.17
Cancelled	2.49	14.02	8.78
Under option, end of year	1.88	1.86	2.42

A summary of stock options outstanding at September 30, 2018 is as follows:



(Dollars)	Options Outstanding			Options Exercisable
Range of Exercise Prices	Number Outstanding (Thousands)	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price	Number Exercisable (Thousands)	Weighted Average Exercise Price

1 - 2	461	3.6	1.14	461	1.14
2 - 3	639	1.6	2.42	639	2.42
	1,100	2.4	1.88	1,100	1.88

There is no unrecognized compensation expense for unvested stock options at September 30, 2018.

The aggregate intrinsic value of stock options outstanding at September 30, 2018 is $842,000.

Restricted Common Stock

A summary of restricted Common Stock activity follows:



(Thousands of Shares)	2018		2017		2016

Outstanding, beginning of year	2,478		2,462		1,546
Granted	587		837		1,018
Vested	(936	)	(751	)	(63	)
Forfeited	(70	)	(70	)	(39	)
Outstanding, end of year	2,059		2,478		2,462

Weighted average grant date fair values of restricted Common Stock are as follows:



(Dollars)	2018	2017	2016

Outstanding, beginning of year	2.69	2.74	3.62
Granted	2.33	3.34	1.49
Vested	3.31	3.59	3.39
Forfeited	2.85	2.98	3.31
Outstanding, end of year	2.31	2.69	2.74

Total unrecognized compensation expense for unvested restricted Common Stock at September 30, 2018 is $1,933,000, which will be recognized over a weighted average period of 1.0 years.

In December 2018, we issued shares of 363,000 restricted Common Stock to employees. The grant date fair value was $2.18 per share. All restrictions with respect to these shares lapse in December 2021.

Stock Purchase Plans

We have 270,000 shares of Common Stock available for issuance pursuant to our Employee Stock Purchase Plan. We also have 8,700 shares of Common Stock available for issuance under our Supplemental Employee Stock Purchase Plan. There has been no activity under these plans in 2018, 2017 or 2016.