STOCK PLANS (Tables)

3 Months Ended

Mar. 31, 2022

STOCK PLANS [Abstract]

Stock Option Activity

The following table presents the activity related to stock options for the three months ended March 31, 2022:

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		627,814		$	8.58
Granted		42,965			10.25
Expired		—			—
Cancelled / Forfeited		—			—
Exercised		(18,524	)		3.51
Options outstanding at End of Period		652,255			8.83	$	939,896		6.03
Exercisable (vested) at End of Period		488,666		$	8.41	$	916,565		5.27

Weighted Average Assumptions Used in Valuing Stock Options

A summary of the weighted average assumptions used in valuing stock options during the three months ended March 31, 2022 is presented below:

	Three Months Ended March 31, 2022
Risk Free Interest Rate		2.54	%
Expected Dividend Yield		0.00	%
Expected Life in Years		5
Expected Price Volatility		19.70	%

Activity Related to Restricted Stock

The following table presents the activity related to non-vested restricted stock for the three months ended March 31, 2022:

	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		167,397		$	9.97
Granted		70,973			10.33
Cancelled/Forfeited		—			—
Exercised/Released/Vested		(30,145	)		10.68	$
Non-vested restricted stock outstanding at End of Period		208,225		$	9.99	$	2,123,895		3.11

Weighted Average Assumptions Used in Valuing ESPP

A summary of the weighted average assumptions used in valuing ESPP issuances during the three months ended March 31, 2022 is presented below:

	Three Months Ended March 31, 2022
Risk Free Interest Rate		0.21	%
Expected Dividend Yield		0.00	%
Expected Life in Years		1.00
Expected Price Volatility		25.73	%