Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of basic and diluted per share results

					Month Ended
	Year Ended December 31,				December 31,
	2021		2020		2020
Net income (loss)	$	14,144	$	(10,481)	$	1,981
Weighted average shares outstanding for computation of basic per share results		7,908,000		5,309,000		5,663,000
Incremental shares from assumed exercise of stock options and warrants and the grant of restricted stock units (a)		173,000		—		181,000
Adjusted weighted average shares for computation of diluted per share results		8,081,000		5,309,000		5,844,000

(a) Incremental shares from the assumed exercise of INDUS stock options and the Warrant and the grant of restricted stock units are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options and the Warrant for 2020 would have been 68,000.

Schedule of options granted by INDUS under the Stock Option Plan to non-employee directors

		Fair Value per
	Number of	Option at
	Shares	Grant Date
Non-employee directors	111,258	$	11.00 - 14.17

Schedule of options granted under RSU

	Time-Based Vesting			Performance-Based Vesting
		Fair Value per			Fair Value per
	Number of	Unit at		Number of	Unit at
	Units	Grant Date		Shares	Grant Date
Employees	8,508	$	63.15	8,508	$	79.33
Non-employee directors	4,682	$	67.28	-
	13,190			8,508

Schedule of assumptions used in determining fair values of options

Expected volatility	29.7 - 30.3	%
Risk free interest rates	0.5 - 0.9	%
Expected option term (in years)	8.5
Annual dividend yield	1.3	%

The forfeiture rate used was 2% based on the historical activity of the grantees.

Schedule of option holders

Number of option holders at December 31, 2021 14

Schedule of unrecognized compensation expense related to nonvested stock options

2022	$	372
2023	$	231
2024	$	111
2025	$	15

Summary of the activity under the INDUS Stock Option Plan

		Weighted Avg.
	Options	Exercise Price
Outstanding at December 31, 2019	189,822	$	28.23
Granted	111,258	$	45.72
Exercised	(54,930)	$	28.58
Outstanding at December 31, 2020	246,150	$	36.06
Adjustment for stock dividend	5,413	$	34.29
Exercised	(29,559)	$	26.34
Forfeited	(1,067)	$	37.49
Outstanding at December 31, 2021	220,937	$	36.47

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Outstanding Options	December 31, 2021	Exercise Price		(in years)	Value
$23.00 - $28.00	81,987	$	26.23	4.2	$	4,496
$28.00 - $32.00	14,073	$	29.84	3.5		721
$32.00 - $47.00	124,877	$	43.93	8.0		4,636
	220,937	$	36.47	6.3	$	9,853
Vested options	111,258	$	28.13	4.4	$	5,889

Summary of company's common dividends

For the year ended December 31, 2021, the Company’s common dividends are as follows:

Quarter Ended	Record Date	Payment Date	Common dividend per share
June 30, 2021	June 16, 2021	June 30, 2021	$0.15
September 30, 2021	September 16, 2021	September 30, 2021	$0.15
December 31, 2021	December 30, 2021	January 14, 2022	$0.16

Restricted Stock Units (RSUs) [Member]

Schedule of unrecognized compensation expense related to nonvested stock options

2022	$	503
2023	$	270
2024	$	22

Schedule of compensation expense and related tax benefits for stock options

					Month Ended
	Year Ended December 31,				December 31,
	2021		2020		2020
Compensation expense	$	1,110	$	532	$	41