Note 3 - Stock-based Compensation

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

NOTE

3

- STOCK-BASED COMPENSATION

The Company had

no

unvested stock options outstanding as of

March 31, 2018

and

2017.

Stock option activity during the

three

months ended

March 31

is as follows:

				Weighted-
				average
				Exercise Price
	Shares			Per Share
Outstanding, January 1, 2018		19,750		$	20.94
Exercised		(1,500	)		23.00
Outstanding, March 31, 2018		18,250		$	20.78
Exercisable, March 31, 2018		18,250		$	20.78

The following table presents the activity during the

three

months ended

March 31, 2018

related to awards of restricted stock:

			Weighted-
			average
			Grant Date Fair
	Shares		Value Per Share
Nonvested at January 1, 2018		14,601	$	35.14
Granted		-		-
Forfeited		-		-
Nonvested at March 31, 2018		14,601	$	35.14
Expected to vest at March 31, 2018		14,601	$	35.14

Share-based compensation expense of

$55,000

and

$48,000

was recognized for the

three

-month periods ended

March 31, 2018

and

2017,

respectively.

The expected remaining compensation expense that will be recognized on restricted stock totals

$199,000,

of which

$127,000

will be recognized in

2018

and

$72,000

will be recognized in

2019.