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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Options Outstanding

Activity in the various Plans during the three months ended March 31, 2020:

 

Options   Number of
Shares
    Weighted
Average
Exercise Price
 
Outstanding at December 31, 2019     589,125     $ 3.74  
Granted            
Exercised            
Forfeited     (5,000 )     (9.40 )
Outstanding at March 31, 2020     584,125     $ 3.69  
Exercisable at March 31, 2020     539,125     $ 3.75  

Shares Authorized Under Stock Option Plans by Exercise Price Range

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable options under the Company’s option plans as of March 31, 2020:

 

      Outstanding options   Exercisable options  
Exercise price
range
    Number of
options
    Weighted average
remaining
contractual life
  Number of
options
    Weighted average
remaining
contractual life
 
                         
$ 0.01 to $3.49       470,313     8.1 years     425,313       8.0 years  
$ 3.50 to $4.99       64,000     4.1 years     64,000       4.1 years  
$ 5.00 to $6.49           — years           — years  
$ 6.50 to $7.99       7,562     1.6 years     7,562       1.6 years  
$ 8.00 to $9.99       2,500     1.2 years     2,500       1.2 years  
$ 10.00 to $19.99       39,750     0.8 years     39,750       0.8 years  
                                 
          584,125     7.1 years     539,125       6.9 years  

Summary of Restricted Stock Activity

A summary of all restricted stock activity under the equity compensation plans for the three months ended March 31, 2020 is as follows:

 

    Number of
Restricted
shares
    Weighted
average
grant date
fair
value
 
Nonvested balance, January 1, 2020     514,875     $ 2.97  
Granted     530,050       1.08  
Vested     (274,925 )     (2.74 )
Forfeited     (22,500 )     (1.92 )
Nonvested balance, March 31, 2020     747,500     $ 1.75  

Schedule of Non-vested Balance of Restricted Stock

The nonvested balance of restricted stock vests as follows:

 

Years ended   Number of
shares
 
       
2020 (April 1, 2020 through December 31, 2020)     13,125  
2021     488,750  
2022     245,625