5 – SHARE BASED COMPENSATION

Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one (1) year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan and 2018 Omnibus Incentive Plan (collectively referred to as “the Plans”). The Options activity during the three months ended March 31, 2021 is as follows:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Years Remaining Contractual Term		Aggregate Intrinsic Value

Outstanding at December 31, 2020		295,500	$	1.92		5.4	$	359,000
Exercised		-
Outstanding at March 31, 2021		295,500	$	1.91		5.1	$	629,000
Exercisable at March 31, 2021		156,000	$	1.72		4.6	$	367,000

At March 31, 2021, the range of individual outstanding weighted average exercise prices was $1.02 to $2.55 and the unamortized compensation expense was approximately $27,000. Stock based compensation recorded in the three months ended March 31, 2021 was $8,000 and is included in selling, general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.