STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2018

STOCK-BASED COMPENSATION

Summary of share activity for all equity and liability classified stock compensation

A summary of share activity for all equity classified stock compensation during the nine months ended September 30, 2018, is presented below:

	Shares		Vested /			Shares
	Outstanding	Granted	Exercised	Expired	Forfeited	Outstanding
Type of Award	at 1/1/2018	Shares	Shares	Shares	Shares	at 9/30/2018
Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting	12,635	15,445	—	—	—	28,080
Equity Classified - Market Condition Restricted Shares - Stock Price Vesting	29,750	—	(7,750)	—	—	22,000
Equity Classified - Three Year Vest Restricted Shares	37,390	17,712	(18,883)	—	(1,267)	34,952
Equity Classified - Non-Qualified Stock Option Awards	90,000	—	(10,000)	—	—	80,000
Total Shares	169,775	33,157	(36,633)	—	(1,267)	165,032

Schedule of amounts recognized for stock options, stock appreciation rights, and restricted stock

	Three Months Ended				Nine Months Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Total Cost of Share-Based Plans Charged Against Income Before Tax Effect	$	386,109	$	398,925	$	1,283,434	$	1,142,090
Income Tax Expense Recognized in Income	$	(97,859)	$	(150,283)	$	(325,286)	$	(286,676)

Peer Group Market Condition Vesting

STOCK-BASED COMPENSATION

Summary of performance share awards activity

A summary of activity during the nine months ended September 30, 2018, is presented below: 

		Wtd. Avg.
Performance Shares with Market Conditions	Shares	Fair Value
Outstanding at January 1, 2018	12,635	$	55.66
Granted	15,445		74.99
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2018	28,080	$	66.29

Stock Price Vesting

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

A summary of the activity for these awards during the nine months ended September 30, 2018, is presented below:

		Wtd. Avg.
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2018	29,750	$	39.07
Granted	—		—
Vested	(7,750)		31.58
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2018	22,000	$	41.71

Three-Year Vesting

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

A summary of activity during the nine months ended September 30, 2018, is presented below:

		Wtd. Avg.
		Fair Value
Three Year Vest Non-Vested Restricted Shares	Shares	Per Share
Outstanding at January 1, 2018	37,390	$	51.39
Granted	17,712		65.33
Vested	(18,883)		51.57
Expired	—		—
Forfeited	(1,267)		59.39
Outstanding at September 30, 2018	34,952	$	57.92

Amended and Restated 2010 Equity Incentive Plan

STOCK-BASED COMPENSATION

Summary of activity for stock option awards

A summary of the activity for the awards during the nine months ended September 30, 2018, is presented below: 

				Wtd. Avg.
				Remaining
				Contractual		Aggregate
		Wtd. Avg.		Term		Intrinsic
Non-Qualified Stock Option Awards	Shares	Ex. Price		(Years)		Value
Outstanding at January 1, 2018	90,000	$	52.71
Granted	—		—
Exercised	(10,000)		29.34
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2018	80,000	$	55.63	6.75	$	532,200
Exercisable at January 1, 2018	73,000	$	51.94	6.88	$	843,968
Exercisable at September 30, 2018	80,000	$	55.63	6.75	$	532,200

Summary of non-vested stock option awards

				Wtd. Avg.
				Remaining
				Contractual		Aggregate
		Wtd. Avg.		Term		Intrinsic
Non-Qualified Stock Option Awards	Shares	Ex. Price		(Years)		Value
Outstanding at January 1, 2018	90,000	$	52.71
Granted	—		—
Exercised	(10,000)		29.34
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2018	80,000	$	55.63	6.75	$	532,200
Exercisable at January 1, 2018	73,000	$	51.94	6.88	$	843,968
Exercisable at September 30, 2018	80,000	$	55.63	6.75	$	532,200

A summary of the non-vested options for these awards during the nine months ended September 30, 2018, is presented below:

		Fair Value
		of Shares
Non-Qualified Stock Option Awards	Shares	Vested
Non-Vested at January 1, 2018	17,000
Granted	—
Vested	(17,000)	$	952,068
Expired	—
Forfeited	—
Non-Vested at September 30, 2018	—