XML 52 R41.htm IDEA: XBRL DOCUMENT v3.5.0.2
6. Stock Based Plans (Details) - Phantom Stock Plan - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Description On April 1, 2006, the Company adopted the Omega Flex, Inc. 2006 Phantom Stock Plan (the “Plan”). The Plan authorizes the grant of up to 1 million units of phantom stock to employees, officers or directors of the Company and of any of its subsidiaries. The phantom stock units ('Units') each represent a contractual right to payment of compensation in the future based on the market value of the Company’s common stock. The Units are not shares of the Company’s common stock    
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized 1,000,000    
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award The phantom stock units ('Units') each represent a contractual right to payment of compensation in the future based on the market value of the Company's common stock. The Units are not shares of the Company's common stock, and a recipient of the Units does not receive any of the following: (a) ownership interest in the Company, (b) shareholder voting rights, and (c) other incidents of ownership to the Company's common stock. The Units are granted to participants upon the recommendation of the Company's CEO, and the approval of the Compensation Committee. Each of the Units that are granted to a participant will be initially valued by the Compensation Committee, and at a minimum, the Unit's value will be equal to the closing price of the Company's common stock on the grant date. The Units follow a vesting schedule, with a maximum vesting of 3 years after the grant date. Upon vesting, the Units represent a contractual right of payment for the value of the Unit. The Units will be paid on their maturity date, one year after all of the Units granted in a particular award have fully vested, unless an acceptable event occurs under the terms of the Plan prior to one year, which would allow for earlier payment. The amount to be paid to the participant on the maturity date is dependent on the type of Unit granted to the participant.    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights The Units follow a vesting schedule, with a maximum vesting of three years after the grant date. Upon vesting, the Units represent a contractual right of payment for the value of the Unit.    
Unvested units outstanding 20,921   20,335
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures 10,460    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 30.57    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid $ 311,000    
Fair Value, Option, Methodology and Assumptions The Company uses the Black-Scholes option pricing model as its method for determining fair value of the Units. The Company uses the straight-line method of attributing the value of the stock-based compensation expense relating to the Units. The compensation expense (including adjustment of the liability to its fair value) from the Units is recognized over the vesting period of each grant or award.    
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent $ 1,003,000   $ 905,000
Deferred Compensation Share-based Arrangements, Liability, Current 348,000   310,000
Deferred Compensation Share-based Arrangements, Liability, Classified, Noncurrent 655,000   $ 595,000
Allocated Share-based Compensation Expense 409,000 $ 104,000  
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized $ 532,000    
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition 1 year 3 months 18 days