Annual report pursuant to Section 13 and 15(d)

Note 4 - Stock-based Compensation

v3.21.1
Note 4 - Stock-based Compensation
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
4.
Stock-Based Compensation
 
For the years ended
December 31, 2020
and
2019,
our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately
$231,000
and
$232,000,
respectively. We have
not
recorded any income tax benefit related to stock-based compensation for the years ended
December 31, 2020
and
2019.
 
A summary of the status of our stock options as of
December 31, 2020,
and changes during the year then ended, is presented below: 
 
   
Year Ended December 31, 2020
  
   
Number of
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Life (years)
    
Aggregate
Intrinsic
Value
  
Outstanding, January 1, 2020
    
238,470
     $
17.38
      
 
      
 
  
Granted
    
315,000
      
2.29
      
 
      
 
  
Canceled and forfeited
    
(3,000
)
    
1.06
      
 
      
 
  
Expired
    
(500
)
    
30.80
      
 
      
 
  
Outstanding, December 31, 2020
    
549,970
     $
8.81
      
8.0
     $
209,280
  
Exercisable, December 31, 2020
    
119,870
     $
24.54
      
5.1
     $
—
  
 
The weighted average grant-date fair value of options granted in
2020
and
2019
was
$1.36
and
$1.65,
respectively.
No
stock options were exercised during
2020
or
2019.
The aggregate fair value of stock options vested during
2020
and
2019
was
$0
in both years.
 
A summary of the status of our unvested restricted stock as of
December 31, 2020,
and changes during the year then ended, is presented below:
 
   
Year Ended
December 31, 2020
  
   
Number of
Shares
    
Weighted
Average
Grant-Date
Fair Value
  
Unvested, January 1, 2019
    
15,000
     $
2.75
  
Granted
    
60,000
      
2.90
  
Vested
    
(15,000
)
    
2.75
  
Unvested, December 31, 2019
    
60,000
     $
2.90
  
 
During
2020
and
2019,
15,000
and
5,000
shares, respectively, of restricted stock vested with aggregate vesting date fair values of
$17,000
and
$14,000,
respectively. During
2020
and
2019,
15,000
and
5,000
shares of restricted stock held by non-employee directors with aggregate fair values of
$17,000
and
$14,000,
respectively, vested as scheduled according to the terms of the restricted stock agreements.
 
As of
December 31, 2020,
there was approximately
$292,000
of total unrecognized compensation cost related to stock option and restricted stock awards, which we expect to recognize over remaining weighted average vesting terms of
1.5
years. See Note
1
(e).