Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Stock-based Compensation

v3.20.2
Note 4 - Stock-based Compensation
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
4
.
Stock-Based Compensation
 
For the
three
-month periods ended
September 30, 2020
and
2019,
our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately
$63,000
and
$50,000,
respectively. For the
nine
-month periods ended
September 30, 2020
and
2019,
our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately
$136,000
and
$178,000,
respectively. We have
not
recorded any income tax benefit related to stock-based compensation in any of the
three
-month or
nine
-month periods ended
September 30, 2020
and
2019.
 
A summary of the status of our stock options as of
September 30, 2020,
and changes during the
nine
-month period then ended, is presented below.
 
   
Nine
Months Ended
September
30
, 20
20
 
   
Number of
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Remaining
Contractual
Life
(in years)
   
Aggregate
Intrinsic
Value
 
Outstanding at beginning of period
   
238,470
    $
17.38
     
7.2
    $
 
Granted
   
295,000
     
2.29
     
 
     
 
 
Exercised
   
     
     
 
     
 
 
Canceled and Forfeited
   
(3,000
)
   
1.06
     
 
     
 
 
Expired
   
(500
)
   
30.80
     
 
     
 
 
Outstanding at end of period
   
529,970
    $
9.06
     
8.1
    $
314,880
 
Exercisable at end of period
   
114,870
    $
25.20
     
5.3
    $
 
 
A summary of the status of our unvested restricted stock as of
September 30, 2020,
and changes during the
nine
-month period then ended, is presented below.
 
   
Nine
Months Ended
September
30
, 20
20
 
   
Number of
Shares
   
Weighted
Average
Grant-Date
Fair Value
 
Unvested at beginning of period
   
15,000
    $
2.75
 
Granted
   
60,000
     
2.90
 
Vested
   
(15,000
)
   
2.75
 
Forfeited
   
     
 
Unvested at end of period
   
60,000
    $
2.90
 
 
As of
September 30, 2020,
there was approximately
$332,000
of total unrecognized compensation expense related to unvested stock-based awards, which we expect to recognize over the remaining weighted average vesting term of
1.6
years.