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STOCK-BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2021
Retirement Benefits [Abstract] |
STOCK-BASED COMPENSATION | 14. STOCK-BASED COMPENSATION The options outstanding as of June 30, 2021, have been classified by exercise price, as follows:
Outstanding |  | Exercisable |
|  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Average |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Remaining |  |  | Average |  |  |  |  |  | Average |
Exercise |  | Number |  |  | Contractual |  |  | Exercise |  |  | Number |  |  | Exercise |
Price |  | Outstanding |  |  | Life (Years) |  |  | Price |  |  | Exercisable |  |  | Price |
$480 - $560 |  |  | 894 |  |  |  | 4.45 |  |  | $ | 537.34 |  |  |  | 734 |  |  | $ | 532.43 |
$1,208 - $1,352 |  |  | 25 |  |  |  | 2.75 |  |  | $ | 1,336.00 |  |  |  | 25 |  |  | $ | 1,336.00 |
$480 - $1,352 |  |  | 919 |  |  |  | 4.40 |  |  | $ | 559.07 |  |  |  | 759 |  |  | $ | 558.88 |
Issuances outside of Plans
$1.79 |  |  | 850,000 |  |  |  | 9.22 |  |  | $ | 1.79 |  |  |  | 0 |  |  | $ | 0.00 |
Total Options
$480 - $1,856 |  |  | 850,919 |  |  |  | 9.22 |  |  | $ | 2.39 |  |  |  | 759 |  |  | $ | 558.88 |
The total stock-based compensation expense related to stock options and stock awards issued the Company’s employees, consultants and directors, included in reported net income (loss) for the three and six months ended June 30, 2021 and 2020, was comprised as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
General and administrative |  | $ | 565,000 |  |  | $ | 20,000 |  |  | $ | 584,000 |  |  | $ | 143,000 |
Total stock-based compensation |  | $ | 565,000 |  |  | $ | 20,000 |  |  | $ | 584,000 |  |  | $ | 143,000 |
A summary of option activity under the Company’s stock option plans as of June 30, 2021, and changes during the six months ended are as follows:
|  |  |  |  |  | Outstanding Options |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  | Average |  |  |  |  |
|  |  | Shares |  |  |  |  |  |  |  | Average |  |  |  | Remaining |  |  |  | Aggregate |
|  |  | Available |  |  |  | Number |  |  |  | Exercise |  |  |  | Contractual |  |  |  | Intrinsic |
|  |  | for Grant |  |  |  | of Shares |  |  |  | Price |  |  |  | Life (years) |  |  |  | Value |
January 1, 2021 |  |  | 6,693 |  |  |  | 925 |  |  | $ | 564.43 |  |  |  | 4.87 |  |  | $ | 0 |
Restricted stock awards |  |  | 0 |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeited |  |  | 6 |  |  |  | (6 | ) |  | $ | 1,352.00 |  |  |  |  |  |  |  |  |
June 30, 2021 |  |  | 6,699 |  |  |  | 919 |  |  | $ | 559.07 |  |  |  | 4.40 |  |  | $ | 0 |
1 Includes options that were issued pursuant to the Company’s 2002 Plan and are not available for future issuance. As of June 30, 2021, there was $83,000 of unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the Plans. That cost is expected to be recognized over a weighted average period of 0.72 years. GWW Stock-Based Compensation On May 25, 2021, GWW issued to Jonathan Read, its Chief Executive Officer, and Timothy Long, its Chief Operating Officer, options to purchase an aggregate total of 100,000 shares of GWW Class A common stock, at an exercise price per share of $14.64. The options vest over a four-year period. Additionally, Mr. Read and Mr. Long were also granted a restricted stock award to acquire an aggregate of 50,000 shares of GWW Class A common stock, vesting annually over a three-year term. As of the date of grant, the authorized share capital of GWW is 1,000,000 shares of Class A common stock, of which 700,000 shares were issued and outstanding, 500,000 shares of Class B common stock of which 500,000 shares were issued and outstanding and 100,000 shares of preferred stock of which no shares of which were outstanding. The stock-based compensation expense related to the options included in reported net income (loss) for the three and six months ended June 30, 2021 was $545,000, based on the estimated fair value of the options on the date of issuance. The estimated fair value of the options was based on observable market prices of the Company’s common stock and extrapolated to GWW based upon its relative fair value within the Company as determined by equal weighting of revenues, operating income, and net tangible assets between the Company’s subsidiaries. As of June 30, 2021, there was $514,000 of unrecognized compensation cost related to non-vested stock-based compensation arrangements with Mr. Read and Mr. Long. That cost is expected to be recognized over a weighted average period of 2.9 years.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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