SHAREHOLDERS EQUITY (Tables)

12 Months Ended

Dec. 31, 2020

SHAREHOLDERS EQUITY

Schedule of summarizes activity for nonqualified stock options

				Weighted
		Weighted		Average
	Number	Average		Remaining	Aggregate
	of	Exercise		Contractual	Intrinsic
	Options	Price		Term	Value
Outstanding as of December 31, 2019	419,197	$	29.02
Granted	—		—
Exercised	—		—
Forfeited or expired	—		—
Outstanding as of December 31, 2020	419,197	$	29.02	2.5	(1)
Options fully vested / exercisable as of December 31, 2020	414,727	$	29.04	2.5	(1)

(a) Nonqualified stock options outstanding at the end of the period and those fully vested / exercisable had immaterial aggregate intrinsic values.

Schedule of summarizes the activity for the Time Vesting Units, the Financial Performance Units and the Market Performance Units

	Time	Financial	Market
	Vesting	Performance	Performance
	Units	Units	Units
Outstanding as of December 31, 2019	209,444	69,426	14,862
Granted	132,775	84,027	—
Vested	(54,753)	—	—
Forfeited	(2,414)	(1,023)	—
Outstanding as of December 31, 2020	285,052	152,430	14,862

Schedule of financial performance units activity

The following presents the Company’s existing Financial Performance Units as of December 31, 2020 (dollars in thousands):

Grant Period	Threshold accrual	Maximum issuable shares at current threshold	Unrecognized compensation expense		Weighted-Average (1)	Financial metric end date	Vesting requirement end date
Prior to May 1, 2019	50% on half; 100% on other half	10,035	$	79	1.0 years	December 31, 2019	December 31, 2021
May 1, 2019 through April 30, 2020	150%	86,148		527	3.1 years	December 31, 2021	December 31, 2023
May 1, 2020 through December 31, 2020, excluding November 18, 2020	150%	87,675		627	4.0 years	December 31, 2022	December 31, 2023
On November 18, 2020	126%	29,268	$	397	3.9 years	December 31, 2022	50% November 18, 2023 & 2025

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⁽¹⁾ Represents the expected unrecognized stock-based compensation expense recognition period.

The following presents the Company’s Financial Performance Units activity for the years noted December 31 (dollars in thousands):

	Units Granted		Compensation expense recognized
Grant Period	2020	2019	2020		2019
Prior to May 1, 2019	—	—	$	64	$	*
May 1, 2019 through April 30, 2020	1,866	62,569		312		110
May 1, 2020 through December 31, 2020, excluding November 18, 2020	58,993	—		156		—
On November 18, 2020	23,168	—	$	17	$	—

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*Not meaningful