Annual report pursuant to Section 13 and 15(d)

Stock Options, Stock Grants and New Stock Issues (Tables)

v3.19.1
Stock Options, Stock Grants and New Stock Issues (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Activity in the Company’s Stock Option Plans
A summary of activity in the Company's stock option plans is as follows:
 
Weighted
Average
Exercise
Price
 
Options
Outstanding
 
Weighted
Average
Contractual
Term
(in years)
 
Intrinsic
Value of
Options
 
Options
Available
At January 01, 2016
$
12.79

 
173,985

 
6.4
 
$

 
152,028

  Expired
$
16.01

 
(937
)
 
 
 
 

 
937

At December 31, 2016
$
12.77

 
173,048

 
5.4
 
$

 
152,965

  Exercised
$
11.55

 
(25,632
)
 
 
 
$
78,818

 


  Expired
$
15.26

 
(1,905
)
 
 
 
 

 
1,905

At December 31, 2017
$
12.96

 
145,511

 
4.6
 
$
156,445

 
154,870

  Exercised
$
12.09

 
(85,440
)
 
 
 
$
842,742

 
 
  Expired
$
16.01

 
(975
)
 
 
 
 
 
975

At December 31, 2018
$
14.16

 
59,096

 
4.8
 
$
143,737

 
155,845

Exercisable options
$
13.82

 
49,127

 
4.5
 
$
136,123

 
 

 
 

 
 

 
 
 
 
 
 

Options expected to vest:
 

 
 

 
 
 
Grant Date Fair Value
 
 

At December 31, 2016
$
14.72

 
43,286

 
7.1
 
$
6.24

 
 

   Vested
$
14.35

 
(17,574
)
 
 
 
$
5.96

 
 

   Forfeited options
$
15.38

 
(62
)
 
 
 
 
 
 
At December 31, 2017
$
14.72

 
25,650

 
6.5
 
$
6.41

 
 

  Vested
$
14.78

 
(15,380
)
 
 
 
$
6.38

 
 
  Forfeited options
$
16.01

 
(301
)
 
 
 
 
 
 
At December 31, 2018
$
15.83

 
9,969

 
6.0
 
$
6.44

 
 
Stock Options by Exercise Price Range
The following table summarizes information about stock options outstanding at December 31, 2018
Range of Exercise Prices
 
Outstanding Stock Options
 
Exercisable Stock Options
 
Shares
 
Weighted Average
 
Shares
 
Weighted Average Exercise Price
 
 
Exercise Price
 
Remaining Contractual Life in Years
 
 
$
11.35

 
13,402

 
$
11.35

 
3.10
 
13,402

 
$
11.35

$
13.70

 
15,933

 
$
13.70

 
4.10
 
15,933

 
$
13.70

$
14.76

 
8,109

 
$
14.76

 
5.14
 
6,643

 
$
14.76

$
16.01

 
21,652

 
$
16.01

 
6.11
 
13,149

 
$
16.01

 

 
59,096

 
 

 
 
 
49,127

 
 

Summary of Stock Awards Plan Activity
A summary of plan activity for the 2005 and 2015 Stock Awards Plans is as follows:
 
Shares
 
Weighted Average
Grant Date Fair Value
Outstanding at December 31, 2015
51,440

 
$
15.57

Granted February 19, 2016
50,062

 
$
7.51

Granted May 5, 2016
42,193

 
$
8.05

Vested
(21,133
)
 
$
13.12

Forfeited
(1,260
)
 
$
17.73

Outstanding at December 31, 2016
121,302

 
$
10.03

Granted February 8, 2017
44,687

 
$
12.30

Vested
(34,322
)
 
$
10.45

Outstanding at December 31, 2017
131,667

 
$
10.69

Granted February 7, 2018
65,527

 
$
12.47

Vested
(51,775
)
 
$
10.84

Forfeited
(3,245
)
 
$
10.96

Outstanding at December 31, 2018
142,174

 
$
11.45