Stock Option Plans

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 7. Stock Option Plans

On June 10, 2011, shareholders approved the SCI Engineered Materials, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). The Company adopted the 2011 Plan as incentive to key employees, directors and consultants under which options to purchase up to 250,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100% of fair market value on the date of grant. As of December 31, 2013 there were no stock options outstanding from the 2011 Plan.

On June 9, 2006, shareholders approved the Superconductive Components, Inc. 2006 Stock Incentive Plan. The Company adopted the 2006 Plan as incentive to key employees, directors and consultants under which options to purchase up to 600,000 shares of the Company’s common stock may be granted, subject to the execution of stock option agreements. Incentive stock options may be granted to key employees of the Company and non-statutory options may be granted to directors who are not employees and to consultants and advisors who render services to the Company. Options may be exercised for periods up to 10 years from the date of grant at prices not less than 100% of fair market value on the date of grant. As of December 31, 2013 there were 491,500 stock options outstanding from the 2006 Plan which expire at various dates through January 2, 2019.

On September 29, 1995, the Company adopted the 1995 Stock Option Plan as incentive to key employees, directors and consultants. As of December 31, 2013 there were 215,000 stock options outstanding from the 1995 Plan which expire at various dates through December 16, 2015. The Company adopted the 1995 Plan as incentive to key employees, directors and consultants under which options to purchase up to 900,000 shares of the Company’s common stock were available to be granted, subject to the execution of stock option agreements.

The cumulative status at December 31, 2013 and 2012 of options granted and outstanding, as well as options which became exercisable in connection with the Stock Option Plans is summarized as follows:

Employee Stock Options

		Weighted		Weighted
		Average		Average	Aggregate
		Exercise		Contractual	Intrinsic
	Stock Options	Price		Term (yrs)	Value
Outstanding at January 1, 2012	736,750	$	4.52
Expired	(144,500)		1.59
Outstanding at December 31, 2012	592,250	$	5.23
Expired	(250)		1.00
Forfeited	(105,500)		5.37
Outstanding at December 31, 2013	486,500	$	5.20	4.1	$	-
Options exercisable at December 31, 2012	322,250	$	4.59	4.3	$	-
Options exercisable at December 31, 2013	304,250	$	4.73	3.5	$	-
Options expected to vest	182,250	$	6.00	5.0	$	-

Non-Employee Director Stock Options

		Weighted		Weighted
		Average		Average	Aggregate
		Exercise		Contractual	Intrinsic
	Stock Options	Price		Term (yrs)	Value
Outstanding at January 1, 2012	250,000	$	3.87
Outstanding at December 31, 2012	250,000	$	3.87
Expired	(30,000)		1.00
Outstanding at December 31, 2013	220,000	$	4.26	0.7	$	-
Options exercisable at December 31, 2012	250,000	$	3.87	1.5	$	-
Options exercisable at December 31, 2013	220,000	$	4.26	0.7	$	-

Information related to the weighted average fair value of nonvested stock options for the year ended December 31, 2013 is as follows:

		Average
		Exercise
	Stock Options	Price
Employee Stock Options
Nonvested options at January 1, 2013	270,000	$	6.00
Forfeited	(51,300)		6.00
Vested	(36,450)		6.00
Nonvested options at December 31, 2013	182,250	$	6.00

Exercise prices range from $ 2.40 to $ 6.00 for options at December 31, 2013. The weighted average option price for all options outstanding was $ 4.91 with a weighted average remaining contractual life of 3.0 years at December 31, 2013. The weighted average option price for all options outstanding was $ 4.83 with a weighted average remaining contractual life of 4.0 years at December 31, 2012.