Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of basic and diluted per share results

	Year Ended December 31,
	2022		2021
Net income	$	6,110	$	14,144
Weighted average shares outstanding for computation of basic per share results		10,189		7,908
Incremental shares from assumed exercise of stock options and warrants and the grant of restricted stock units		159		173
Adjusted weighted average shares for computation of diluted per share results		10,348		8,081

Schedule of unrecognized compensation expense related to nonvested stock options

2023	$	231
2024	$	111
2025	$	15

Schedule of option holders

Number of option holders at December 31, 2022 14

Summary of the activity under the INDUS Stock Option Plan

		Weighted Avg.
	Options	Exercise Price
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
Exercised	(5,600)	$	26.31
Forfeited	(3,635)	$	27.50
Outstanding at December 31, 2022	211,702	$	36.89

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, 2022	Exercise Price		(in years)	Value
$23.00 - $28.00	74,663	$	26.29	3.3	$	2,777
$28.00 - $32.00	14,073	$	29.84	2.5		474
$32.00 - $47.00	122,966	$	44.13	7.1		2,381
	211,702	$	36.89	5.4	$	5,632
Vested options	109,492	$	28.88	3.8	$	3,789

Summary of company's common dividends

For the year ended December 31, 2022, the Company’s common dividends were as follows:

Quarter Ended	Record Date	Payment Date	Common dividend per share
March 31, 2022	March 31, 2022	April 15, 2022	$0.16
June 30, 2022	June 30, 2022	July 15, 2022	$0.16
September 30, 2022	September 30, 2022	October 14, 2022	$0.16
December 31, 2022	December 30, 2022	January 17, 2023	$0.18

For the year ended December 31, 2021, the Company’s common dividends were 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)

Schedule of unrecognized compensation expense related to nonvested stock options

2023	$	830
2024	$	359
2025	$	54

Schedule of compensation expense and related tax benefits for stock options

	Year Ended December 31,
	2022		2021
Compensation expense	$	1,492	$	1,110

Time Based Restricted Stock Units

Summary of activity for restricted stock units

	Time-based vesting
	December 31, 2022			December 31, 2021
	Number of		Grant Date Fair	Number of		Grant Date Fair
	Units		Value Weighted Avg.	Units		Value Weighted Avg.
Outstanding at December 31, 2021	12,829	$	64.43	—	$	—
Granted	13,514	$	68.68	13,191	$	64.62
Adjustment for dividends	193	$	—	47	$	—
Vested and distributed	(3,391)	$	63.97	—	$	—
Forfeited	(813)	$	63.15	(409)	$	63.15
Outstanding at December 31, 2022	22,332	$	66.56	12,829	$	64.43

Performance Shares

Summary of activity for restricted stock units

	Performance-based vesting
	December 31, 2022			December 31, 2021
	Number of		Grant Date Fair	Number of		Grant Date Fair
	Units		Value Weighted Avg.	Units		Value Weighted Avg.
Outstanding at December 31, 2021	8,136	$	78.97	—	$	—
Granted	7,999	$	100.19	8,508	$	79.33
Adjustment for dividends	138	$	—	37	$	—
Forfeited	(1,219)	$	79.33	(409)	$	79.33
Outstanding at December 31, 2022	15,054	$	89.50	8,136	$	78.97