STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2019

STOCK-BASED COMPENSATION

Summary of share activity for all equity classified stock compensation

A summary of share activity for all equity classified stock compensation during the nine months ended September 30, 2019, is presented below:

	Shares		Vested /			Shares
	Outstanding	Granted	Exercised	Expired	Forfeited	Outstanding
Type of Award	at 1/1/2019	Shares	Shares	Shares	Shares	at 9/30/2019
Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting	28,080	21,195	—	—	—	49,275
Equity Classified - Market Condition Restricted Shares - Stock Price Vesting	22,000	—	—	—	—	22,000
Equity Classified - Three Year Vest Restricted Shares	34,952	20,696	(18,053)	—	—	37,595
Equity Classified - Non-Qualified Stock Option Awards	80,000	—	—	—	—	80,000
Total Shares	165,032	41,891	(18,053)	—	—	188,870

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

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Total Cost of Share-Based Plans Charged Against Income Before Tax Effect	$	613,292	$	444,481	$	2,059,167	$	1,457,312
Income Tax Expense Recognized in Income	$	(155,439)	$	(112,654)	$	(521,896)	$	(369,356)

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, 2019, is presented below: 

		Wtd. Avg.
Performance Shares with Market Conditions	Shares	Fair Value
Outstanding at January 1, 2019	28,080	$	66.29
Granted	21,195		64.66
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2019	49,275	$	65.59

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, 2019, is presented below:

		Wtd. Avg.
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2019	22,000	$	41.71
Granted	—		—
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2019	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, 2019, is presented below:

		Wtd. Avg.
		Fair Value
Three Year Vest Non-Vested Restricted Shares	Shares	Per Share
Outstanding at January 1, 2019	34,952	$	58.07
Granted	20,696		58.78
Vested	(18,053)		54.43
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2019	37,595	$	60.21

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, 2019, 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, 2019	80,000	$	55.63
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at September 30, 2019	80,000	$	55.63	5.51	$	797,800
Exercisable at January 1, 2019	80,000	$	55.63	6.50	$	25,000
Exercisable at September 30, 2019	80,000	$	55.63	5.51	$	797,800