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Stock-based Compensation | 9 Months Ended
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Aug. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION On June 15, 2005, the shareholders approved an amended and Restated Stock Option Plan amending the 2003 Stock Option Plan (the “2005 Plan”). The 2005 Plan authorizes the issuance of up to one million shares of common stock (subject to customary adjustments set forth in the plan) pursuant to equity awards, which may take the form of incentive stock options, nonqualified stock options restricted shares, stock appreciation rights and/or performance shares. The 2005 Plan expired in April, 2015, but awards made under the 2005 Plan prior to its expiration will remain in effect until such awards have been satisfied or terminated in accordance with the terms and provisions of the 2005 Plan. On August 13, 2015, the shareholders approved the 2015 CCA Industries, Inc. Incentive Plan (the "2015 Plan"). The 2015 Plan authorized the issuance of up to 700,000 shares of common stock (subject to customary adjustments set forth in the plan) pursuant to equity awards, which may take the form of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, performance shares and cash awards. On June 7, 2017, the shareholders approved the 2015 CCA Industries, Inc. Incentive Plan as Amended. The sole purpose of the amendment was to increase the shares available for issuance under the 2015 Plan from 700,000 to 1,400,000. T he Company adheres to the provisions of ASC Topic 718, Stock Compensation, which requires an entity to recognize the grant-date fair value of stock options and other equity-based compensation issued to employees in the financial statements. The Company recorded a charge against earnings in the amount of $108,295 and $48,392, respectively, for the three months ended August 31, 2018 and August 31, 2017 and $194,458 and $126,863, respectively, for the nine months ended August 31, 2018 and August 31, 2017 for all outstanding stock options granted. On June 20, 2018, the Company granted incentive stock options for an aggregate of 270,000 shares to fourteen employees of the Company at $2.85 per share, which was the closing price of the Company's stock on that day. The options vest in equal 20% increments beginning one year after the date of grant, and for each of the four subsequent anniversaries of such date. The options expire on June 19, 2028. The Company had estimated the fair value of the options granted to be $398,169 as of the grant date. On June 20, 2018, the Company granted non-qualified stock options for an aggregate of 150,000 shares to two directors of the Company at $2.85 per share, which was the closing price of the Company's stock on that day. The options vest one year after the date of grant. The options expire on June 19, 2023. The Company had estimated the fair value of the options granted to be $153,945 as of the grant date. On January 4, 2018, the Company granted incentive stock options for 7,500 shares to an employee of the Company at $3.15 per share, which was the closing price of the Company's stock on that day. The options vest in equal 20% increments beginning one year after the date of grant, and for each of the four subsequent anniversaries of such date. The options expire on January 3, 2028. The Company had estimated the fair value of the options granted to be $11,692 as of the grant date. The fair value of the stock options granted was estimated on the date of the grant using a Black-Scholes valuation model and the assumptions in the following table:
| Assumptions:
Option Grant Date | Risk-free Interest Rate | Dividend Yield | Stock Volatility | Option Term (years)
June 20, 2018 | 2.80 | % | — | % | 37.14 | % | 10
June 20, 2018 | 2.36 | % | — | % | 37.14 | % | 5
January 4, 2018 | 1.82 | % | — | % | 37.63 | % | 10
As of August 31, 2018, there were 396,800 stock options outstanding that were exercisable. The total compensation cost of non-vested stock option awards that has not yet been recognized was $912,691 as of August 31, 2018. The weighted average period over which the unrecognized compensation is expected to be recognized is 43 months.
| Number of Options | Weighted-Average Exercise Price | Weighted-Average Remaining Term (years) | Aggregate Intrinsic Value
Outstanding at November 30, 2016 | 564,000 |  | $ | 3.25 |  | 5.8 | — |
Granted | 307,500 |  | $ | 3.30 |  |  |
Exercised | — |  |  |  |
Canceled or Forfeited | — |  |  |  |
Outstanding at November 30, 2017 | 871,500 |  | $ | 3.27 |  | 6.0 | — |
Granted | 7,500 |  | $ | 3.15 |  |  |
Exercised | — |  |  |  |
Canceled or Forfeited | 82,500 |  | $ | 3.35 |  |  |
Outstanding at February 28, 2018 | 796,500 |  | $ | 3.26 |  | 6.0 | — |
Granted | — |  |  |  |
Exercised | — |  |  |  |
Canceled or Forfeited | — |  |  |  |
Outstanding at May 31, 2018 | 796,500 |  | $ | 3.26 |  | 5.8 | — |
Granted | 420,000 |  | $ | 2.85 |  |  |
Exercised | — |  |  |  |
Canceled or Forfeited | 20,000 |  | $ | 3.30 |  |  |
Outstanding at August 31, 2018 | 1,196,500 |  | $ | 3.09 |  | 7.3 | — |

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- 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://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 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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