Stock-based compensation expense

3 Months Ended

Mar. 31, 2017

Stock incentive plan

Stock-based compensation expense and assumptions

5. Stock-based compensation expense

Stock-based compensation expense is measured at the grant date based on fair value, and recognized as an expense over the requisite service period, net of an estimated forfeiture rate.

The following summarizes stock-based compensation expense recognized by income statement classification:

	Three Months Ended
	March 31,
	2017		2016
Processing and service costs	$	42,435	$	48,806
Selling, general and administrative expenses		283,437		555,162
Total stock-based compensation expense	$	325,872	$	603,968

The following summarizes stock-based compensation expense recognized by type:

	Three Months Ended
	March 31,
	2017		2016
Stock options	$	227,506	$	281,396
Restricted stock awards		98,366		322,572
Total stock-based compensation expense	$	325,872	$	603,968