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SHARE BASED AND OTHER COMPENSATION
 9 Months Ended
Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
SHARE BASED AND OTHER COMPENSATION

NOTE 16 - SHARE BASED AND OTHER COMPENSATION

For the three and nine months ended September 30, 2020 and 2019, the Company's share-based compensation consisted of the following (dollars in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

 

Stock

Options

 

 

Restricted

Stock

 

 

Total

 

 

Stock

Options

 

 

Restricted

Stock

 

 

Total

 

Share based compensation expensed

 

$

3

 

 

$

1,339

 

 

$

1,342

 

 

$

290

 

 

$

6,043

 

 

$

6,333

 

Unrecognized share-based compensation costs

 

$

26

 

 

$

181

 

 

$

207

 

 

$

130

 

 

$

1,444

 

 

$

1,574

 

Weighted average amortization period remaining (in years)

 

1.3

 

 

 

0.49

 

 

 

 

 

 

1.64

 

 

1.27

 

 

 

 

 

 

Restricted Stock

A summary of restricted stock grant activity pursuant to the 2012 Plan and the 2016 Plan for the nine months ended September 30, 2020, is presented below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant

Date Price

 

Outstanding at January 1, 2020

 

 

1,402,175

 

 

$

1.26

 

Granted

 

 

4,431,817

 

 

$

0.22

 

Vested and issued

 

 

(4,682,652

)

 

$

0.32

 

Forfeited or canceled (1)

 

 

(918,358

)

 

$

0.87

 

Outstanding at September 30, 2020

 

 

232,982

 

 

$

1.94

 

(1)

Forfeitures are accounted for as and when incurred.

Under the Plan, each outstanding share of restricted stock that has been vested and issued will be canceled for no consideration. See Note 2 - Chapter 11 Filing, Liquidity and Going Concern for a description of the terms of the Chapter 11 Cases.

Stock Options

A summary of stock option activity pursuant to the 2016 Plan for the nine months ended September 30, 2020, is presented below:

 

 

 

Number

of Options

 

 

Weighted

Average

Exercise

Price

 

 

Number

of Options

Vested/

Exercisable

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

Outstanding at January 1, 2020

 

 

3,588,350

 

 

$

4.05

 

 

 

3,487,792

 

 

 

7.2

 

Forfeited or canceled (1)

 

 

(485,850

)

 

$

4.80

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2020

 

 

3,102,500

 

 

$

3.93

 

 

 

3,075,834

 

 

 

6.1

 

 

(1)

Forfeitures are accounted for as and when incurred.

The Company expects that the outstanding stock options will be cancelled for no consideration in the Chapter 11 Cases.