Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Stock-based Compensation

v3.19.1
Note 5 - Stock-based Compensation
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
5
.
Stock-Based Compensation
 
For the
three
-month periods ended
March 
31,
2019
and
2018,
our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately
$62,000
and
$138,000,
respectively. We have
not
recorded any income tax benefit related to stock-based compensation in either of the
three
-month periods ended
March 
31,
2019
and
2018.
 
A summary of the status of our stock options as of
March 
31,
2019,
and changes during the
three
-month period then ended, is presented below.
 
   
T
hree Months Ended March 31, 201
9
 
   
Number of
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Remaining
Contractual
Life
   
Aggregate
Intrinsic
Value
 
Outstanding at beginning of period
   
157,908
    $
24.82
     
 
     
 
 
Granted
   
95,250
     
5.89
     
 
     
 
 
Exercised
   
     
     
 
     
 
 
Canceled and Forfeited
   
(5,300
)
   
8.93
     
 
     
 
 
Expired
   
(350
)
   
11.00
     
 
     
 
 
Outstanding at end of period (in years)
   
247,508
    $
17.90
     
7.7
    $
 
Exercisable at end of period (in years)
   
84,175
    $
34.35
     
4.8
    $
 
 
A summary of the status of our unvested restricted stock as of
March 
31,
2019,
and changes during the
three
-month period then ended, is presented below.
 
   
Three Months Ended
March 31, 201
9
 
   
Number of
Shares
   
Weighted
Average
Grant-Date
Fair Value
 
Unvested at beginning of period
   
5,000
    $
7.42
 
Granted
   
15,000
     
2.75
 
Vested
   
(5,000
)
   
7.42
 
Forfeited
   
     
 
Unvested at end of period
   
15,000
    $
2.75
 
 
As of
March 
31,
2019,
there was approximately
$166,000
of total unrecognized compensation expense related to unvested stock-based awards, which we expect to recognize over the remaining weighted average vesting term of
1.1
years.