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Equity Incentive Plan (Tables)
 9 Months Ended
Sep. 30, 2020
Equity Incentive Plan  
Schedule of activity in the stock option plan

 

Activity in the stock option plan was as follows for the nine months ended September 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate

 

 

 

 

Weighted-Average

 

Contractual Term

 

Intrinsic

 

    

Shares

    

Exercise Price

    

(Years)

    

Value

September 30, 2020

 

(Unaudited)

Outstanding, beginning of period

 

118,458

 

$

5.84

 
7.25

 

$

371,885

Granted

 

11,000

 

 

9.38

 

10.00

 

 

 —

Exercised

 

 —

 

 

 —

 

 

 

 

 

Forfeited

 

 —

 

 

 —

 

 

 

 

 

Outstanding, end of period

 

129,458

 

$

6.14

 

7.00

 

$

367,485

Exercisable, end of period

 

71,076

 

$

5.84

 
6.75

 

$

223,179

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate

 

 

 

 

Weighted-Average

 

Contractual Term

 

Intrinsic

 

 

Shares

    

Exercise Price

    

(Years)

    

Value

September 30, 2019

 

(Unaudited)

Outstanding, beginning of period

 

129,479

 

$

5.84

 

8.50

 

$

194,008

Granted

 

 —

 

 

 —

 

 

 

 

 

Exercised

 

(3,306)

 

$

5.84

 

 

 

 

 

Forfeited

 

(7,714)

 

$

5.84

 

 

 

 

 

Outstanding, end of period

 

118,458

 

$

5.84

 
7.75

 

$

456,416

Exercisable, end of period

 

47,383

 

$

5.84

 
7.75

 

$

182,566

(1)

Share amounts related to periods prior to the January 22, 2020 closing of the conversion offering have been restated to give retroactive recognition to the 1.6351 exchange ratio applied in the conversion offering. (see Note 1).