Annual report pursuant to Section 13 and 15(d)

Note 6 - Stock-based Compensation

v3.20.1
Note 6 - Stock-based Compensation
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
6
.
Stock-Based Compensation
 
For the years ended
December 31, 2019
and
2018,
our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately
$232,000
and
$307,000,
respectively. We have
not
recorded any income tax benefit related to stock-based compensation for the years ended
December 31, 2019
and
2018.
 
A summary of the status of our stock options as of
December 31, 2019,
and changes during the year then ended, is presented below: 
 
   
Year Ended December 31, 201
9
  
   
Number of
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Life (in years)
    
Aggregate
Intrinsic
Value
  
Outstanding, January 1, 2019
    
157,915
     $
24.82
      
 
      
 
  
Granted
    
95,250
      
5.89
      
 
      
 
  
Canceled and forfeited
    
(5,304
)
    
8.94
      
 
      
 
  
Expired
    
(9,391
)
    
30.87
      
 
      
 
  
Outstanding, December 31, 2019
    
238,470
     $
17.38
      
7.2
     $
—
  
Exercisable, December 31, 2019
    
84,807
     $
31.77
      
5.0
     $
—
  
 
The weighted average grant-date fair value of options granted in
2019
and
2018
was
$1.65
and
$4.00,
respectively.
No
stock options were exercised during
2019
or
2018.
The aggregate fair value of stock options vested during
2019
and
2018
was
$0
in both years.
 
A summary of the status of our unvested restricted stock as of
December 31, 2019,
and changes during the year then ended, is presented below:
 
   
Year Ended
December 31, 201
9
  
   
Number of
Shares
    
Weighted
Average
Grant-Date
Fair Value
  
Unvested, January 1, 2019
    
5,000
     $
7.42
  
Granted
    
15,000
      
2.75
  
Vested
    
(5,000
)
    
7.42
  
Unvested, December 31, 2019
    
15,000
     $
2.75
  
 
During
2019
and
2018,
5,000
and
10,000
shares, respectively, of restricted stock vested with aggregate vesting date fair values of
$14,000
and
$59,000,
respectively.
 
In
March 2018,
5,000
shares of restricted stock held by a non-employee director with an aggregate fair value of
$36,000
vested upon his retirement from the Board. In
August 2018,
2,500
shares of restricted stock held by a non-employee director with an aggregate fair value of
$7,000
were forfeited as a result of his departure from the Board. During
2019
and
2018,
5,000
and
5,000
shares of restricted stock held by non-employee directors with aggregate fair values of
$14,000
and
$23,000,
respectively, vested as scheduled according to the terms of the restricted stock agreements.
 
As of
December 31, 2019,
there was approximately
$46,000
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
1.0
years. See Note
1
(e).