Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity

The following table summarizes the activity relating to the Company’s stock options for the six-month period ended June 30, 2019:

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Term     Value  
                         
Outstanding at beginning of year     1,220,000     $ 5.37                  
Granted     869,000       6.20                  
Exercised     (50,000 )     3.54                  
Forfeited or expired     (1,000 )     3.29                  
                                 
Outstanding at end of period     2,038,000     $ 5.77       8 years     $ 610,000  
                                 
Exercisable at end of period     1,254,000     $ 5.68       7 years     $ 8,000  
Schedule of Fair Value Stock Option Assumptions

The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions:

 

    June 30,  
    2018     2019  
             
Expected volatility     43.0 %     24.2 %
Expected life of options (in years)     4       3  
Risk free interest rate     2.73 %     1.41 %
Dividend yield     0 %     0 %
Weighted average fair value of options granted during the period   $ 2.37     $ 2.72  
Schedule of Non-vested Restricted Stock Activity

A summary of all non-vested restricted stock for the six-month period ended June 30, 2019 is as follows:

 

          Weighted-  
    Number of     Average  
    Non-vested     Grant Date  
    Shares     Fair Value  
             
Restricted stock, non-vested, beginning of year     568,000     $ 6.65  
Granted     245,000       5.74  
Vested     (199,000 )     6.62  
Forfeited     -       -  
                 
Restricted stock, non-vested, end of period     614,000     $ 6.30