Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.7.0.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [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, 2017:

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Term     Value  
                         
Outstanding at beginning of year     1,243,000     $ 5.08                  
Granted     349,000       6.0                  
Exercised     (258,000 )     4.70                  
Forfeited or expired     (31,000 )     8.26                  
                                 
Outstanding at end of period     1,303,000     $ 5.33        7 years     $ 1,095,000  
                                 
Exercisable at end of period     581,000     $ 5.09        4 years     $ 654,000  

Schedule of Fair Value Stock Option Assumption

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,  
    2016     2017  
             
Expected volatility     45.5 %     42.4 %
Expected life of options (in years)     4       4  
Risk free interest rate     1.2 %     1.7 %
Dividend yield     0 %     0 %
Weighted average fair value of options granted during the period   $ 1.60     $ 2.11  

Schedule of Non-vested Share Activity

A summary of all non-vested restricted stock for six-month period ended June 30, 2017 is as follows:

 

          Weighted-  
    Number of     Average  
    Non-vested     Grant Date  
    Shares     Fair Value  
             
Restricted stock, non-vested, beginning of year     392,000     $ 5.45  
Granted     145,000       6.00  
Vested     (44,000 )     5.76  
Forfeited     (7,000 )     5.69  
                 
Restricted stock, non-vested, end of period     486,000     $ 5.58  

Schedule of Non-vested Performance-based Units Activity

A summary of all non-vested performance shares for the six-month period ended June 30, 2017 is as follows:

 

          Weighted-  
    Number of     Average  
    Non-vested     Grant Date  
    Shares     Fair Value  
             
Performance shares, non-vested, beginning of year     261,000     $ 4.07  
Granted     -       -  
Vested     (100,000 )     4.07  
Forfeited     (44,000 )     4.07  
                 
Performance shares, non-vested, end of period     117,000     $ 4.07