Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

9.	Stock-Based Compensation

The Company recognizes compensation expense for all equity-based compensation awards issued to employees, directors and non-employees that are expected to vest. Compensation cost is based on the fair value of awards as of the grant date. The Company recognized $175,000 and $203,000 of stock-based compensation expense for the three months ended September 30, 2014 and 2013, respectively, under the fair value method and recognized $514,000 and $641,000 of stock-based compensation expense for the nine months ended September 30, 2014 and 2013, respectively. The Company granted 0 and 60,000 stock options for the three and nine months ended September 30, 2014, respectively. The fair value of the options granted for the nine months ended September 30, 2014 was $56,000. The Company granted 0 and 64,500 stock options for the three and nine months ended September 30, 2013, respectively. The fair value of the granted options at the grant date was $78,000.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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