14.	Stock-Based Compensation

We currently have

two

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

2014

Equity Incentive Plan (the “Fourth Amended

2014

Plan”). The Fourth Amended

2014

Plan was approved by our shareholders in May

2019.

Among other things, the Fourth Amended

2014

Plan (i) increased the number of shares of Common Stock available for issuance under the plan by

2,000,000

shares and (ii) extended the term of the plan by approximately

two

years. As of December

31,

2019,

65,771

shares remained available for issuance under the ESPP and

1,791,565

shares remained available for issuance under the Fourth Amended

2014

Plan.

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

income tax-related charges to paid-in capital during the years ended

December 31, 2019

and

2018

Restricted Stock and Restricted Stock Units

During the years ended

December 31, 2019

and

2018

, we granted

229,500

and

533,177

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

$0.9

million and

$1.3

million, respectively. We incurred expenses of

$1.0

million and

$0.7

million during the years ended

December 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 which may include the achievement of performance measures) and are amortized to salaries and benefits expense ratably over applicable vesting periods. As of

December 31, 2019

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

$0.7

million with a weighted-average remaining amortization period of

years.

Stock Options

Our Fourth Amended

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

$0.7

million and

$0.6

million related to stock option-related compensation costs during the years ended

December 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		(469,701	)	$	2.59
Cancelled/Forfeited		(14,000	)	$	3.13
Outstanding at December 31, 2019		2,687,499		$	3.66		2.2	$	14,386,956
Exercisable at December 31, 2019		1,076,836		$	3.50		1.5	$	5,930,463

We had

$0.5

million and

$1.2

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

December 31, 2019

and

December 31, 2018

respectively.