STOCK PLANS (Tables)

9 Months Ended

Sep. 30, 2019

The following table presents the activity related to stock options for the three months ended September 30, 2019.

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value			Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		405,137	$	8.72
Granted		—		—
Expired		—		—
Cancelled / Forfeited		—		—
Exercised		—		—
Options outstanding at End of Period		405,137	$	8.72		$	1,042,478		6.65
Exercisable (vested) at End of Period		224,595	$	6.95		$	945,508		5.21

The following table presents the activity related to stock options for the nine months ended September 30, 2019.

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value			Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		329,160		$	8.23
Granted		77,666		$	10.86
Expired		—		$	—
Cancelled / Forfeited		(1,689	)		12.41
Exercised		—			—
Options outstanding at End of Period		405,137		$	8.72		$	1,042,478		6.65
Exercisable (vested) at End of Period		224,595		$	6.95		$	945,508		5.21

Weighted Average Assumptions Used in Valuing Stock Options Granted

A summary of the weighted average assumptions used in valuing stock options during the three and nine months ended September 30, 2019 is presented below:

	Three Months Ended September 30, 2019*		Nine Months Ended September 30, 2019
Risk Free Interest Rate		—		2.47	%

Expected Dividend Yield		—		0.00	%

Expected Life in Years		—		5

Expected Price Volatility		—		11.86	%

* There were no stock options granted during the three months ended September 30, 2019.

Activity Related to Restricted Stock

The following table presents the activity related to non-vested restricted stock for the three months ended September 30, 2019.

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value			Weighted Average Remaining Contractual Term (in years)
Non-vested Restricted stock outstanding at Beginning of Period		124,762	$	10.18
Granted		2,000	$	11.31
Cancelled / Forfeited		—	$	—
Exercised / Released / Vested		—		—
Non-vested restriced stock outstanding at End of Period		126,762	$	10.20		$	1,400,720		2.77

The following table presents the activity related to non-vested restricted stock for the nine months ended September 30, 2019.

	Number of Shares			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value			Weighted Average Remaining Contractual Term (in years)
Non-vested Restricted stock outstanding at Beginning of Period		118,391		$	8.94
Granted		44,262		$	10.88
Cancelled / Forfeited		(1,969	)	$	11.10
Exercised / Released / Vested		(33,922	)		6.64
Non-vested restricted stock outstanding at End of Period		126,762		$	10.20		$	1,400,720		2.77

Weighted Average Assumptions Used in Valuing ESPP

A summary of the weighted average assumptions used in valuing ESPP issuances during the three and nine months ended September 30, 2019 is presented below.

	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Risk Free Interest Rate		2.67	%		2.67	%

Expected Dividend Yield		0.00	%		0.00	%

Expected Life in Years		1.00			1.00

Expected Price Volatility		8.47	%		8.47	%