STOCK-BASED COMPENSATION (Tables)

A summary of share activity for all equity classified stock compensation during the year ended December 31, 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 12/31/2018
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


				Wtd. Avg.
				Remaining
				Contractual	Aggregate
		Wtd. Avg.		Term	Intrinsic
Liability-Classified Stock Appreciation Rights	Shares	Fair Value		(Years)	Value
Outstanding at January 1, 2016	18,000	$	2.64
Granted	—		—
Exercised	—		—
Expired	(3,000)		—
Forfeited	(4,000)		0.87
Outstanding at December 31, 2016	11,000		1.33
Granted	—		—
Exercised	(6,000)		3.84
Expired	(5,000)		—
Forfeited	—		—
Outstanding at December 31, 2017	—		—
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	—	$	—	—	$	—
Exercisable at December 31, 2018	—	$	—	—	$	—


	Year Ended
	December 31, 2018		December 31, 2017		December 31, 2016
Accelerated Charge for Stock-Based Compensation	$	—	$	—	$	1,649,513
Recurring Charge for Stock-Based Compensation		1,684,250		1,437,223		1,529,370
Total Cost of Share-Based Plans Charged Against Income Before Tax Effect	$	1,684,250	$	1,437,223	$	3,178,883

Income Tax Expense Recognized in Income	$	(426,873)	$	(554,409)	$	(1,226,254)

A summary of activity during the years ended December 31, 2018, 2017, and 2016 is presented below:


		Wtd. Avg.
Performance Shares with Market Conditions	Shares	Fair Value
Outstanding at January 1, 2016	—	$	—
Granted	—		—
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2016	—		—
Granted	12,635		55.66
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2017	12,635		55.66
Granted	15,445		74.99
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	28,080	$	66.29

A summary of activity during the years ended December 31, 2018, 2017, and 2016 is presented below:


		Wtd. Avg.
		Grant Date
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2016	2,400	$	23.42
Granted	—		—
Vested	(2,300)		23.42
Expired	—		—
Forfeited	(100)		23.42
Outstanding at December 31, 2016	—		—
Granted	—		—
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2017	—		—
Granted	—		—
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	—	$	—

A summary of the activity for these awards during the years ended December 31, 2018, 2017, and 2016 is presented below:


		Wtd. Avg.
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2016	137,500	$	30.58
Granted	4,000		38.98
Vested	—		—
Expired	—		—
Forfeited	(72,000)		34.46
Outstanding at December 31, 2016	69,500		27.03
Granted	—		—
Vested	(7,750)		34.30
Expired	(32,000)		14.08
Forfeited	—		—
Outstanding at December 31, 2017	29,750		39.07
Granted	—		—
Vested	(7,750)		31.58
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	22,000	$	41.71

A summary of activity for these awards during the years ended December 31, 2018, 2017, and 2016, is presented below:


		Wtd. Avg.
		Fair Value
Three Year Vest Non-Vested Restricted Shares	Shares	Per Share
Outstanding at January 1, 2016	26,900	$	49.73
Granted	21,100		44.88
Vested	(10,363)		47.89
Expired	—		—
Forfeited	(133)		46.08
Outstanding at December 31, 2016	37,504		47.53
Granted	17,451		55.06
Vested	(17,298)		46.70
Expired	—		—
Forfeited	(267)		52.51
Outstanding at December 31, 2017	37,390		51.39
Granted	17,712		65.33
Vested	(18,883)		51.57
Expired	—		—
Forfeited	(1,267)		59.39
Outstanding at December 31, 2018	34,952	$	58.07

A summary of the activity for these awards during the years ended December 31, 2018, 2017, and 2016, 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, 2016	116,850	$	48.63
Granted	40,000		55.62
Exercised	(3,350)		34.95
Expired	—		—
Forfeited	(40,000)		55.62
Outstanding at December 31, 2016	113,500		49.03
Granted	—		—
Exercised	(23,500)		34.95
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2017	90,000		52.71
Granted	—		—
Exercised	(10,000)		29.34
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	80,000	$	55.63	6.50	$	25,000
Exercisable at January 1, 2018	73,000	$	51.94	6.88	$	843,968
Exercisable at December 31, 2018	80,000	$	55.63	6.50	$	25,000

A summary of the non-vested options for these awards during the years ended December 31, 2018, 2017, and 2016, is presented below:


		Fair Value
		of Shares
Non-Qualified Stock Option Awards	Shares	Vested
Non-Vested at January 1, 2016	88,260
Granted	40,000
Vested	(51,360)	$	2,643,088
Expired	—
Forfeited	(40,000)
Non-Vested at December 31, 2016	36,900
Granted	—
Vested	(19,900)	$	1,094,066
Expired	—
Forfeited	—
Non-Vested at December 31, 2017	17,000
Granted	—
Vested	(17,000)	$	952,068
Expired	—
Forfeited	—
Non-Vested at December 31, 2018	—


				Wtd. Avg.
				Remaining
				Contractual	Aggregate
		Wtd. Avg.		Term	Intrinsic
Liability-Classified Stock Options	Shares	Ex. Price		(Years)	Value
Outstanding at January 1, 2016	18,000	$	64.69
Granted	—		—
Exercised	—		—
Expired	(3,000)		67.27
Forfeited	(4,000)		64.99
Outstanding at December 31, 2016	11,000		63.87
Granted	—		—
Exercised	(6,000)		52.73
Expired	(5,000)		52.73
Forfeited	—		—
Outstanding at December 31, 2017	—		—
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at December 31, 2018	—	$	—	—	$	—
Exercisable at December 31, 2018	—	$	—	—	$	—