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Stock Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2022
Stock Compensation Plans [Abstract]  
Stock Option Activity
Stock option activity under the Plan during the year ended December 31, 2022, was as follows:

 
Stock Options
 
   
Number
of shares
   
Weighted
average
exercise price
 
Balance at December 31, 2021
   
659,205
   
$
8.16
 
Granted
   
45,113
     
9.76
 
Exercised
   
(19,450
)
   
3.34
 
Cancelled/Forfeited
   
     
 
                 
Balance at December 31, 2022
   
684,868
   
$
8.41
 
Information on Stock Options
The following table presents information on stock options for the year ended December 31, 2022:

 
Number of
Shares
   
Weighted
Average
Exercise Price
   
Aggregate
Intrinsic
Value
   
Weighted
Average
Remaining
Contractual
Term
 
Options exercised
   
19,450
   
$
3.34
   
$
125
     

 
                                 
Stock options outstanding and expected to vest:
   
684,868
   
$
8.41
   
$
431
     
5.28
 
                                 
Stock options vested and currently exercisable:
   
513,099
   
$
8.01
   
$
431
     
4.52
 
Weighted Average Assumptions Used in Valuing Stock Options
The following table shows our weighted average assumptions used in valuing stock options granted for the years ended December 31:

 
2022
   
2021
 
Risk-Free Interest Rate
   
2.54
%
   
0.00
%
                 
Expected Dividend Yield
   
0.00
%
   
0.00
%
                 
Expected Life in Years
   
5.00
     
 
                 
Expected Price Volatility
   
19.70
%
   
0.00
%
Information about Non-vested Restricted Stock Awards Outstanding
The following table presents information about non-vested restricted stock awards outstanding for the year ended December 31, 2022:

 
Restricted Stock Awards
 
   
Number of
shares
   
Weighted
average
grant date
fair value
 
Balance at December 31, 2021
   
175,767
   
$
9.50
 
Granted
   
104,352
     
9.31
 
Vested
   
(31,652
)
   
10.17
 
Cancelled/Forfeited
   
   
 
                 
Balance at December 31, 2022
   
248,467
   
$
9.33