XML 42 R33.htm IDEA: XBRL DOCUMENT v3.23.1
STOCK BASED COMPENSATION PLANS (Details Narrative) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended
Mar. 08, 2023
Mar. 31, 2023
Feb. 28, 2023
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Unvested units outstanding   5,840   5,840   6,653
Share based compensation paid in period     $ 673      
Share based compensation vested shares     5,120      
Nonvested forfeited units   597   597    
Compensation expense       $ 22    
Share based compensation liability   $ 1,080   1,080   $ 1,343
Share based compensation liability, current   721   721   665
Share based compensation liability, non-current   359   359   $ 678
Unrecognized compensation costs   $ 583   $ 583    
Compensation expense, weighted average recognize period       1 year 10 months 24 days    
Phantom Stock Plan [Member]            
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Share based compensation, 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 one million units of phantom stock to employees, officers, or directors of the Company. 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.    
Share based compensation vesting rights       The Units are granted to participants upon the recommendation of the Company’s President, 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 at an amount equal to the closing price of the Company’s common stock on the grant date but are recorded at fair value using the Black-Sholes method as described below. The Units follow a vesting schedule, with a maximum vesting of three years after the grant date. Grants made on or after January 1, 2023, will fully vest three-years from the grant date. Upon vesting, the Units represent a contractual right of payment for the value of the Unit and therefore are stated as liabilities in accordance with FASB ASC Topic 718    
Compensation expense       $ 409 $ 280  
Full Value Units [Member]            
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Share based compensation grants in period 2,536          
Share based compensation weighted average grant date fair value $ 108.47