STOCK COMPENSATION (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

The following table summarizes changes in the number of outstanding stock options

The following table summarizes changes in the number of outstanding stock options under the 2011 Plan over the period December 31, 2020 to September 30, 2021:

				Weighted average
		Weighted average		remaining
		exercise price		contractual term
	Options	per share		in years
Outstanding – December 31, 2020	1,173,190	$	6.52	3.35
Awarded	—		—
Exercised	(799,390)		4.70
Forfeited	(373,800)		10.43
Outstanding – September 30, 2021	—		—	—
Exercisable at September 30, 2021	—	$	—	—
Expected to vest September 30, 2021	—		—	—

The following table summarizes changes in the number of outstanding stock options under the Director Plan, Stock Plan and the 2011 Incentive Plan during the two years ended December 31, 2020.

				Weighted average		Weighted average
				exercise price		remaining
	Options			per share		contractual term
Outstanding – December 31, 2018		1,380,492		$	7.56	4.18 years
Awarded		100,769			2.69
Exercised		(151,950	)		4.08
Forfeited		(198,839	)		9.33
Outstanding – December 31, 2019		1,130,472			7.28	3.48 years
Awarded		191,301			5.10
Exercised		(8,000	)		2.64
Forfeited		(140,583	)		10.90
Outstanding – December 31, 2020		1,173,190			6.52	3.35 years
Exercisable at December 31, 2020		877,926		$	7.20	2.59 years
Expected to vest December 31, 2020		1,173,190		$	6.52	3.35 years

The fair value of awards issued under the Company’s stock option plan is estimated at grant date using the Black-Scholes option-pricing model. The following table displays the assumptions used in the model.

The fair value of awards issued under the Company’s stock option plan is estimated at grant date using the Black-Scholes option-pricing model. The following table displays the assumptions used in the model.

	Year Ended December 31
	2020			2019
Expected volatility		40.2	%		31.3	%
Risk free interest rate		0.4	%		2.2	%
Expected holding period		6 years			6 years
Dividend yield		1.3	%		3.0	%

The following table summarizes the status of stock options outstanding at December 31, 2020:

Total unrecognized compensation expense was $222,000 as of December 31, 2020, which is expected to be recognized over the next 2.8 years. The aggregate intrinsic value of all outstanding options, exercisable options, and options expected to vest (the amount by which the market price of the stock on the last day of the period exceeded the market price of the stock on the date of grant) was $437,000 based on the Company’s stock price at December 31, 2020. The intrinsic value of options exercised during the year was $18,000 in 2020 and $380,000 in 2019. Net cash proceeds from the exercise of all stock options were $0 in 2020 and 2019. The following table summarizes the status of stock options outstanding at December 31, 2020:

			Weighted Average	Weighted
			Remaining	Average
Range of Exercise Prices	Shares		Option Life	Exercise Price
$2.50 to $4.99		515,989	4.6 years	$	3.75
$5.00 to $7.49		353,359	3.6 years		6.17
$7.50 to $9.99		0	0 years		0.00
$10.00 to $12.49		244,477	1.2 years		11.32
$12.50 to $14.15		59,365	0.2 years		12.97

The following table summarizes the changes in the number of deferred stock

The following table summarizes the changes in the number of deferred stock shares under the 2011 Plan over the period December 31, 2020 to September 30, 2021:

		Weighted Average
		Grant Date
	Shares	Fair Value
Outstanding – December 31, 2020	272,695	$	3.91
Granted	—		—
Vested	(194,586)		4.05
Forfeited	(78,109)		3.56
Outstanding – September 30, 2021	—		—

The following table summarizes the changes in the number of deferred stock shares under the Stock Plan and 2011 Incentive Plan over the period from December 31, 2018 to December 31, 2020:

				Weighted Average
				Grant Date
	Shares			Fair Value
Outstanding – December 31, 2018		270,066		$	4.48
Granted		161,107			2.76
Vested		(4,575	)		4.56
Forfeited		(105,371	)		3.90
Outstanding – December 31, 2019		321,227			3.37
Granted		95,631			5.33
Vested		(57,952	)		2.81
Forfeited		(86,211	)		4.22
Outstanding – December 31, 2020		272,695			3.91