Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Stock-Based Compensation Expense by Type

The stock-based compensation expense by type is as follows:

	Three Months Ended March 31,
	2020		2019
Service-based awards	$	422	$	580
Performance-based awards - short-term incentive plan		0		189
Performance-based awards - long-term incentive plan		78		57
Employee stock purchase plan		62		55
Stock options		0		1
Total	$	562	$	882

Stock-Based Compensation

Total stock-based compensation is reflected in the condensed consolidated statements of operations as follows:

	Three Months Ended March 31,
	2020		2019
Cost of revenues	$	72	$	103
Research and development		137		172
Sales and marketing		150		180
General and administrative		203		427
Total	$	562	$	882

The following table presents a summary of the remaining unrecognized share-based compensation expense related to outstanding share-based awards as of March 31, 2020:

Award Type	Remaining Unrecognized Compensation Expense		Weighted Average Life (Years)
Service-based awards	$	2,532		1.5
Performance-based awards	$	1,051		2.5
Stock options	$	1		0.6

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the three months ended March 31, 2020 is as follows:

	Options Outstanding			Weighted Average Exercise Price
Outstanding at December 31, 2019		150,246		$	7.11
Options exercised		(60,455	)		7.17
Options cancelled/expired		(800	)		7.22
Outstanding at March 31, 2020		88,991		$	7.06
Exercisable at March 31, 2020		86,795		$	7.09

Information about Stock Options Outstanding Under all Stock Plans

The following table summarizes information about stock options outstanding under all stock option plans:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Contractual Life (Years)		Weighted- Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$ 5.00 - $ 5.06		8,500		3.49	$	5.05		7,270	$	5.05
$ 6.98		2,000		4.87		6.98		1,034		6.98
$ 7.16		42,541		0.23		7.16		42,541		7.16
$ 7.22		23,950		0.04		7.22		23,950		7.22
$ 7.31 - $ 8.21		12,000		0.03		7.84		12,000		7.84
$ 5.00 - $ 8.21		88,991		0.60	$	7.06		86,795	$	7.09

Weighted Average Contractual Life and Intrinsic Value of the Options Outstanding and Options Exercisable

The weighted average contractual life and intrinsic value of options outstanding and options exercisable at March 31, 2020, was the following:

	Weighted Average Contractual Life (years)		Intrinsic Value
Options Outstanding		0.60	$	12
Options Exercisable		0.51	$	11

Summary of Performance Share Activity

The following table summarizes the performance award activity:

At Target	Awards		Weighted Average Fair Value
Unvested Performance Awards - December 31, 2019		171,437	$	5.27
Awards granted		145,289		8.70
Unvested Performance Awards - March 31, 2020		316,726	$	6.84

Calculation of Fair Value of Each Employee Stock Purchase Grant Using Black-Scholes Option-Pricing Model

The Company calculated the fair value of each employee stock purchase grant on the date of grant using the Black-Scholes option-pricing model using the following assumptions:

	Employee Stock Purchase Plan
	2020			2019
Dividend yield		2.6	%		4.1	%
Risk-free interest rate		2.5	%		2.5	%
Expected volatility		38	%		34	%
Expected life (in years)		0.5			0.5

Restricted Stock [Member]

Summary of Service-based Restricted Stock Activity

The following table summarizes service-based restricted stock activity for the three months ended March 31, 2020: 

	Shares			Weighted Average Fair Value
Unvested Restricted Stock Awards - December 31, 2019		477,187		$	6.11
Shares awarded		153,694			8.70
Shares vested		(233,573	)		6.21
Unvested Restricted Stock Awards - March 31, 2020		397,308		$	7.06

Restricted Stock Units [Member]

Summary of Service-based Restricted Stock Activity

The following table summarizes the restricted stock unit activity during the three months ended March 31, 2020:

	Shares			Weighted Average Fair Value
Unvested Restricted Stock Units - December 31, 2019		8,117		$	5.83
Units awarded		4,100			8.70
Units vested/Shares awarded		(5,482	)		5.80
Unvested Restricted Stock Units - March 31, 2020		6,735		$	7.60