Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

The following tables summarize stock option activity during the three month period ended March 31, 2014:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2014		279,000		$	3.31
Granted		—			—
Exercised		(140,000	)		1.13
Forfeited		(20,000	)		6.10

Outstanding and exercisable at March 31, 2014		119,000		$	5.41		3.5 years	$	37,500

Exercisable at March 31, 2014		117,000		$	5.44		3.4 years	$	37,000

Options vested and expected (as of March 31, 2014) to vest in the future		119,000		$	5.41		3.5 years	$	37,500

Summary of Share Based Compensation Option Unvested

A summary of the status of the Company’s unvested options as of March 31, 2014 and changes during the three month period ended March 31, 2014 is presented below:


	Shares			Weighted Average Grant Date Fair Values
Unvested options at January 1, 2014		10,000		$	2.77
Granted		—			—
Vested		(8,000	)		2.82
Forfeited		—			—

Unvested options at March 31, 2014		2,000		$	2.58

Summary of Restricted Share Activity

A summary of the status of the Company’s restricted share activity follows:


	Shares			Weighted Average Grant Date Fair Values
Unvested restricted shares outstanding at January 1, 2014		318,660		$	3.27
Granted		164,500			3.66
Vested		(103,503	)		(3.44	)
Forfeited		—			—

Unvested restricted shares at March 31, 2014		379,657		$	3.40