STOCK-BASED COMPENSATION (Tables)

A summary of share activity for all equity classified stock compensation during the three months ended March 31, 2020, is presented below:


Type of Award	Shares Outstanding at 1/1/2020	Granted Shares	Vested / Exercised Shares	Expired Shares	Forfeited Shares	Shares Outstanding at 3/31/2020
Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting	49,275	19,641	(12,635)	—	—	56,281
Equity Classified - Market Condition Restricted Shares - Stock Price Vesting	22,000	—	—	—	—	22,000
Equity Classified - Three Year Vest Restricted Shares	37,595	19,451	(18,054)	—	(200)	38,792
Equity Classified - Non-Qualified Stock Option Awards	80,000	—	—	—	—	80,000
Total Shares	188,870	39,092	(30,689)	—	(200)	197,073

Amounts recognized in the financial statements for stock options, stock appreciation rights, and restricted stock are as follows:


	Three Months Ended
	March 31, 2020		March 31, 2019
Total Cost of Share-Based Plans Charged Against Income Before Tax Effect	$	818,649	$	811,601

Income Tax Expense Recognized in Income	$	(203,770)	$	(205,700)

A summary of activity during the three months ended March 31, 2020, is presented below:


		Wtd. Avg.
Performance Shares with Market Conditions	Shares	Fair Value
Outstanding at January 1, 2020	49,275	$	65.59
Granted	19,641		54.69
Vested	(12,635)		55.66
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2020	56,281	$	64.02

A summary of the activity for these awards during the three months ended March 31, 2020, is presented below:


		Wtd. Avg.
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2020	22,000	$	41.71
Granted	—		—
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2020	22,000	$	41.71

A summary of activity during the three months ended March 31, 2020, is presented below:


		Wtd. Avg.
		Fair Value
Three Year Vest Non-Vested Restricted Shares	Shares	Per Share
Outstanding at January 1, 2020	37,595	$	60.21
Granted	19,451		59.70
Vested	(18,054)		59.69
Expired	—		—
Forfeited	(200)		58.78
Outstanding at March 31, 2020	38,792	$	60.20

A summary of the activity for the awards during the three months ended March 31, 2020, is presented below:


Non-Qualified Stock Option Awards	Shares	Wtd. Avg. Ex. Price		Wtd. Avg. Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2020	80,000		55.63
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2020	80,000	$	55.63	5.01	$	—
Exercisable at January 1, 2020	80,000	$	55.63	6.50	$	25,000
Exercisable at March 31, 2020	80,000	$	55.63	5.01	$	—