Stock - Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Share-based Payment Arrangement [Abstract] |
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| Schedule of Activity in the Company’s Stock Option Plans |
A summary of activity in the Company's stock option plans is as follows:
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Weighted
Average
Exercise
Price |
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Options
Outstanding |
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Weighted
Average
Contractual
Term
(in years) |
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Intrinsic
Value of
Options |
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Options
Available |
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| December 31, 2018 |
$ |
14.16 |
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59,096 |
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4.8 |
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$ |
143,737 |
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155,845 |
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| Exercised |
$ |
12.61 |
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(3,628) |
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— |
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| December 31, 2019 |
$ |
14.26 |
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55,468 |
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3.8 |
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$ |
18,331 |
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155,845 |
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| Granted February 5, 2020 |
$ |
13.00 |
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123,500 |
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(123,500) |
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| Granted June 30, 2020 |
$ |
7.33 |
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20,000 |
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(20,000) |
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| Canceled, forfeited, or expired |
$ |
13.14 |
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(19,437) |
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19,437 |
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| December 31, 2020 |
$ |
12.74 |
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179,531 |
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7.2 |
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$ |
9,402 |
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31,782 |
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| Exercisable options |
$ |
13.77 |
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86,531 |
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5.1 |
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$ |
— |
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| Options expected to vest: |
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Grant Date Fair Value |
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| December 31, 2018 |
$ |
15.83 |
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9,969 |
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6.0 |
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$ |
6.44 |
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| Vested |
$ |
15.72 |
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(6,246) |
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$ |
6.46 |
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| December 31, 2019 |
$ |
16.01 |
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3,723 |
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5.1 |
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$ |
6.11 |
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| Granted February 5, 2020 |
$ |
13.00 |
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123,500 |
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$ |
4.53 |
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| Granted June 30, 2020 |
$ |
7.33 |
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20,000 |
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$ |
2.59 |
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| Vested |
$ |
13.24 |
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(34,786) |
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$ |
4.68 |
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| Canceled, forfeited, or expired |
$ |
13.14 |
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(19,437) |
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$ |
4.62 |
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| December 31, 2020 |
$ |
11.78 |
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93,000 |
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9.2 |
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$ |
5.53 |
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| Schedule of Stock Options by Exercise Price Range |
The following table summarizes information about stock options outstanding as of December 31, 2020:
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| Range of Exercise Prices |
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Outstanding Stock Options |
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Exercisable Stock Options |
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Shares |
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Weighted Average |
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Shares |
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Weighted Average Exercise Price |
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Exercise Price |
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Remaining Contractual Life in Years |
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| $ |
11.35 |
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11,713 |
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$ |
11.35 |
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1.10 |
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11,713 |
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$ |
11.35 |
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| $ |
13.70 |
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13,994 |
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$ |
13.70 |
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2.10 |
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13,994 |
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$ |
13.70 |
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| $ |
14.76 |
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8,109 |
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$ |
14.76 |
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3.13 |
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8,109 |
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$ |
14.76 |
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| $ |
16.01 |
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20,715 |
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$ |
16.01 |
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4.11 |
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20,715 |
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$ |
16.01 |
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| $ |
13.00 |
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105,000 |
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$ |
13.00 |
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9.10 |
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32,000 |
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$ |
13.00 |
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| $ |
7.33 |
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20,000 |
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$ |
7.33 |
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9.50 |
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— |
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$ |
7.33 |
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179,531 |
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86,531 |
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| Schedule of Stock Awards Plan Activity |
A summary of plan activity for the 2005 and 2015 Stock Awards Plans is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value |
| Outstanding December 31, 2018 |
142,174 |
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$ |
11.45 |
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| Granted February 6, 2019 |
44,949 |
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$ |
15.72 |
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| Vested |
(84,734) |
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$ |
11.76 |
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| Forfeited |
(1,614) |
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$ |
12.44 |
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| Outstanding December 31, 2019 |
100,775 |
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$ |
13.28 |
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| Granted February 5, 2020 |
45,418 |
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$ |
13.00 |
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| Granted November 10, 2020 |
50,000 |
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$ |
5.65 |
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| Vested |
(81,233) |
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$ |
12.87 |
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| Forfeited |
(17,535) |
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$ |
13.11 |
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| Outstanding December 31, 2020 |
97,425 |
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$ |
11.97 |
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| Schedule of Nonvested Performance- based Units Activity |
A summary of the status of our non-vested performance-based restricted stock awards as of December 31, 2020, and changes during fiscal 2020, were as follows:
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Units(1)
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Weighted-Average Grant Date Fair Value |
| Outstanding December 31, 2019 |
77,986 |
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$ |
13.66 |
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Granted(2)
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36,647 |
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$ |
13.00 |
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Vested(3)
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(64,711) |
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$ |
13.21 |
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| Forfeited/Canceled |
(20,558) |
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$ |
13.73 |
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| Non-vested December 31, 2020 |
29,364 |
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$ |
13.76 |
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(1) The number of units presented is based on achieving the targeted performance goals as defined in the performance award agreement. As of December 31, 2020, the maximum number of non-vested shares under the provisions of the agreement was 44,046.
(2) Contingent shares have been excluded from the table above.
(3) Excludes the vesting of an additional 5,074 shares due to performance conditions of the awards exceeding target.
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