12.	Stock-Based Compensation

As of

March 31, 2019,

we had

two

stock-based compensation plans, the Second Amended and Restated Employee Stock Purchase Plan (the “ESPP”) and the Second Amended and Restated

2014

Equity Incentive Plan (the

“2014

Plan”). On

May 9, 2019,

our shareholders approved the Fourth Amended and Restated

2014

Equity Incentive Plan (the "Fourth Amended

2014

Plan"). Among other things, the Fourth Amended

2014

Plan (i) increased the number of shares of Common Stock available for issuance under the Fourth Amended

2014

Plan by

2,000,000

shares and (ii) extended the term of the Fourth Amended

2014

Plan by approximately

two

years. As of

March

31,

2019,

78,169

shares remained available for issuance under the ESPP and

1,796,770

shares remained available for issuance under the

2014

Plan (including the additional shares authorized by the Fourth Amended

2014

Plan).

Exercises and vestings under our stock-based compensation plans resulted in

income tax-related charges to additional paid-in capital during the

three

months ended

March

31,

2019

and

2018.

Restricted Stock and Restricted Stock Units

During the

three

months ended

March 31, 2019

and

2018,

we granted

205,000

and

69,000

cumulative shares of restricted stock and restricted stock units (net of any forfeitures), respectively, with aggregate grant date fair values of

$0.7

million and

$0.2

million, respectively. We incurred expenses of

$0.2

million and

$0.1

million during the

three

months ended

March 31, 2019

and

2018,

respectively, related to restricted stock awards. When we grant restricted stock and restricted stock units, we defer the grant date value of the restricted stock and restricted stock unit and amortize that value (net of the value of anticipated forfeitures) as compensation expense with an offsetting entry to the paid-in capital component of our consolidated shareholders’ equity. Our restricted stock awards typically vest over a range of

months (or other term as specified in the grant) and are amortized to salaries and benefits expense ratably over applicable vesting periods. As of

March

31,

2019,

our unamortized deferred compensation costs associated with non-vested restricted stock awards were

$1.3

million with a weighted-average remaining amortization period of

2.0

years.

Stock Options

Our

2014

Plan provides that we

may

grant options on or shares of our common stock (and other types of equity awards) to members of our Board of Directors, employees, consultants and advisors. The exercise price per share of the options must be equal to or greater than the market price on the date the option is granted. The option period

may

not

exceed

years from the date of grant. The vesting requirements for options are determined by the Compensation Committee of the Board of Directors. We had expense of

$0.2

million and

$0.2

million related to stock option-related compensation costs during the

three

months ended

March

31,

2019

and

2018,

respectively. When applicable, we recognize stock option-related compensation expense for any awards with graded vesting on a straight-line basis over the vesting period for the entire award. The table below includes additional information about outstanding options:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average of Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2018		3,121,200		$	3.50
Issued		50,000		$	3.13
Exercised		(419,500	)	$	2.54
Cancelled/Forfeited		—		$	—
Outstanding at March 31, 2019		2,751,700		$	3.64		2.9	$	934,117
Exercisable at March 31, 2019		959,868		$	3.34		2.1	$	239,953

We had

$1.0

million and

$1.2

million of unamortized deferred compensation costs associated with non-vested stock options as of

March

31,

2019

and

December 31, 2018,

respectively.