Stock Compensation

12 Months Ended

Dec. 31, 2018

Stock Compensation

Stock Compensation

(13)    Stock Compensation

The Company has one equity compensation plan for its employees pursuant to which options were granted.

The following table summarizes the Company's stock option activity:

				Weighted average						Weighted average			Aggregate
	Number of shares			exercise price						Contractual Term			Intrinsic Value
	December 31,			December 31,						(in years)			($000)
	2018	2017	2016	2018		2017		2016		2018	2017	2016	2018		2017		2016
Outstanding, beginning of year	20,909	48,097	70,616	$	14.20	$	18.59	$	19.12
Granted	—	—	—		—		—		—
Exercised	(20,909)	—	—		14.20		—		—
Forfeited or expired	—	(27,188)	(22,519)		—		21.20		20.24
Outstanding, end of year	—	20,909	48,097	$	—	$	14.20	$	18.59	0.00	0.73	0.99	$	0	$	120,242	$	49,842
Exercisable, end of year	—	20,909	46,725	$	—	$	14.20	$	18.72	0.00	0.73	0.97	$	0	$	120,242	$	46,874

Options have been adjusted to reflect a 4% stock dividend paid on July 1, 2018.

Total stock-based compensation expense for the years ended December 31, 2018, 2017, and 2016 was zero,  $3,000, and $17,000, respectively. There is no remaining unrecognized compensation expense related to non-vested stock awards. The Plan expired on February 28, 2010, except as to outstanding options under the Plan, and no further options may be granted pursuant to the Plan. During the third quarter of 2018, the remaining 20,909 options to purchase common shares were exercised at a weighted average price of $14.20 a share.