Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Information with respect to stock option activity as of and for the year ended December 31, 2018 is as follows:

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Weighted Average Remaining Contractual Life (Years)

Options outstanding at January 1, 2018		1,046,833		$	3.33
Options granted		-			-
Options exercised		(486,500	)		1.88
Options forfeited		(505,333	)		4.89
Options outstanding at December 31, 2018		55,000			1.87	$	17		2.08
Options expected to vest		-			-	$	-		-
Options exercisable at December 31, 2018		55,000		$	-	$	-		-

Information with respect to stock option activity as of and for the year ended December 31, 2017 is as follows:

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Weighted Average Remaining Contractual Life (Years)

Options outstanding at January 1, 2017		1,556,833		$	3.15
Options granted		-			-
Options exercised		(320,000	)		2.05
Options forfeited		(190,000	)		4.01
Options outstanding at December 31, 2017		1,046,833			3.33	$	928		1.28
Options expected to vest		24,000			1.90	$	33		4.72
Options exercisable at December 31, 2017		1,022,833		$	3.36	$	895		1.20

Nonvested Share Activity

A summary of the status of the Company’s nonvested options as of and for the year ended December 31, 2018 is presented below.

	Number of Shares			Weighted Average Fair Value

Nonvested options at January 1, 2018		24,000		$	0.97
Options granted		-			-
Options forfeited		-			-
Options vested during the period		(24,000	)		0.97

Nonvested options at December 31, 2018		-		$	-

A summary of the status of the Company’s nonvested options as of and for the year ended December 31, 2017 is presented below.

	Number of Shares			Weighted Average Fair Value

Nonvested options at January 1, 2017		72,000		$	0.97
Options granted		-			-
Options forfeited		-			-
Options vested during the period		(48,000	)		0.97

Nonvested options at December 31, 2017		24,000		$	0.97

Restricted Stock Units

During the years ended December 31, 2018 and 2017, the Company issued RSUs to employees which vest upon the achievement of specific market-based or time-based measures. The fair value for RSU's is calculated based on the stock price on the grant date and expensed ratably over the requisite service period, which ranges between one and five years. The following table summarizes the information about vested and unvested restricted stock units for the years ended December 31, 2018 and 2017.

	Number of Shares			Weighted Average Fair Value

Nonvested RSUs at January 1, 2018		1,634,663		$	1.96
RSUs granted		428,526			3.23
RSUs forfeited		(140,997	)		2.47
RSUs vested		(350,667	)		3.30

Nonvested RSUs at December 31, 2018		1,571,525		$	1.96

Nonvested RSUs at January 1, 2017		1,688,480		$	1.45
RSUs granted		644,677			3.24
RSUs forfeited		(5,500	)		3.40
RSUs vested		(692,994	)		1.89

Nonvested RSUs at December 31, 2017		1,634,663		$	1.96

As of December 31, 2018, the Company had $0.8 million of unrecognized compensation expense related to the RSUs expected to be recognized on a pro-rata straight line basis over a weighted average remaining service period of approximately 1.16 years.