Note 6 - Stock-based Compensation

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Shareholders' Equity and Share-Based Payments [Text Block]

6. STOCK-BASED COMPENSATION

We recorded non-cash stock compensation expense in each period as follows:

	Three-month period ended
	March 31,		March 31,
	2022		2021
Stock options	$	181	$	163
Restricted stock grants		8		21
Total	$	189	$	184

We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of March 31, 2022, there was $670 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.1 years.

The following table summarizes stock option activity for the three-month period ended March 31, 2022:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2022		1,306,824		$	6.87
Granted		-			-
Exercised		(58,750	)		3.81
Forfeited or expired		(43,584	)		6.75
Outstanding at March 31, 2022		1,204,490		$	7.02		4.31	$	154
Vested and expected to vest at March 31, 2022		1,086,934		$	7.03		4.16	$	152
Exercisable at March 31, 2022		644,453		$	7.13		2.96	$	145

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended March 31, 2022 and March 31, 2021 was $113 and $31, respectively.

In October 2020, 5,000 shares of restricted stock were awarded to an employee at a weighted-average grant date fair value of $6.08 per share. In April 2019, 20,000 shares of restricted stock were awarded to certain of our employees at a weighted-average grant date fair value of $11.12 per share. All outstanding restricted shares vest in equal annual installments over three (3) years. Unrecognized compensation cost related to these restricted shares was $9 at March 31, 2022, which is expected to be recognized over a weighted average period of 1.4 years.