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Note 8 - Stock Based Compensation
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
NOTE
8
– STOCK BASED COMPENSATION
 
The Company is authorized to issue up to
2.5
million shares of common stock under the
2015
Long-Term Incentive Plan to key employees, and as of
March 31, 2019,
approximately
1.3
million shares were available to be granted.
 
As of
March 31, 2019
and
December 31, 2018,
options to purchase an aggregate of
220,000
shares of the Company’s common stock, with a weighted average exercise price of
$9.63,
were outstanding. As of
March 31, 2019,
120,000
 options were exercisable.
 
The Company recorded stock-based compensation expense of 
$0.8
 million and 
$0.9
million during the
three
months ended 
March 31, 2019
and
2018,
respectively.
 
2019
Long-Term Incentive Compensation
 
During the
three
months ended
March 31, 2019,
the Company granted
105,406
restricted stock units ("RSUs") with a weighted average grant price of
$15.16.
The RSUs will vest in equal installments on each of the
first
three
anniversaries of the grant date, subject to the recipient’s continued employment or service with the Company on the applicable vesting date.
 
During the
three
months ended
March 31, 2019,
the Company awarded
61,631
 of targeted performance stock units ("PSUs") with a weighted average grant price of
$15.25.
The PSUs are performance-vesting equity incentive awards that will be earned based on our performance against metrics relating to annual Adjusted EBITDA and annual revenue. Awards will vest after a
three
-year performance period and
may
be earned at a level ranging from
0%
-
200%
of the number of PSUs granted, depending on performance. The number of shares were determined based upon the closing price of our common stock on the date of the award.