Note E - Stock Compensation

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

Note E – Stock Compensation

The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation.

During the three months ended March 31, 2023, and pursuant to the 2017 Incentive Plan, the Company issued 30,921 shares of common stock with a fair market value of $395 thousand in lieu of accrued and unpaid annual cash incentives for fiscal year 2022 to certain officers. During the three months ended March 31, 2023, the Company awarded 145,563 restricted stock units to employees. The 2023 restricted stock units awarded to employees time vest over three years (one-third one year from grant, one-third two years from grant and one-third three years from grant) provided that the employee is still employed by the Company on the vesting date.

For the three months ended March 31, 2023 and March 19, 2022, the Company recognized stock based compensation expense of $459 thousand and $388 thousand, respectively. At March 31, 2023 and March 19, 2022, respectively, there was $2,816 thousand and $3,235 thousand in unrecognized stock-based compensation expense related to non-vested stock awards.