| Schedule of Share-based Compensation, Allocation of Recognized Period Costs |
The
following table summarizes stock-based compensation recognized for the three and six months ended June 30, 2024, and 2023 for our employee
and director stock options.
Schedule of Share-based Compensation, Allocation of Recognized Period Costs
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
Three
Months Ended |
|
|
Six
Months Ended |
|
| Stock
Options |
|
June
30, |
|
|
June
30, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| Employee
Stock Options |
|
$ |
72,000 |
|
|
$ |
93,000 |
|
|
$ |
163,000 |
|
|
$ |
179,000 |
|
| Director
Stock Options |
|
|
60,000 |
|
|
|
32,000 |
|
|
|
121,000 |
|
|
|
64,000 |
|
| Total |
|
$ |
132,000 |
|
|
$ |
125,000 |
|
|
$ |
284,000 |
|
|
$ |
243,000 |
|
|
| Schedule of Stock Options Roll Forward |
The
summary of the Company’s total Stock Option Plans as of June 30, 2024, and June 30, 2023, and changes during the periods then ended,
are presented below. The Company’s Plans consist of the 2017 Plan and the 2003 Outside Directors Stock Plan (the “2003 Plan”):
Schedule of Stock Options Roll Forward
| |
|
Shares |
|
|
Weighted
Average Exercise Price |
|
|
Weighted
Average Remaining Contractual Term (years) |
|
|
Aggregate
Intrinsic Value (4) |
|
| Options
outstanding January 1, 2024 |
|
|
994,500 |
|
|
$ |
5.57 |
|
|
|
|
|
|
|
- |
|
| Granted |
|
|
45,000 |
|
|
$ |
7.75 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(49,900 |
) |
|
$ |
5.63 |
|
|
|
|
|
|
$ |
245,982 |
|
| Forfeited |
|
|
(44,000 |
) |
|
$ |
6.05 |
|
|
|
|
|
|
|
|
|
| Options
outstanding end of period (1) |
|
|
945,600 |
|
|
$ |
5.65 |
|
|
|
4.6 |
|
|
$ |
4,232,804 |
|
| Options
exercisable at June 30, 2024(2) |
|
|
343,900 |
|
|
$ |
5.05 |
|
|
|
3.5 |
|
|
$ |
1,747,136 |
|
| |
|
Shares |
|
|
Weighted
Average Exercise Price |
|
|
Weighted
Average Remaining Contractual Term (years) |
|
|
Aggregate
Intrinsic Value (4) |
|
| Options
outstanding January 1, 2023 |
|
|
1,018,400 |
|
|
$ |
5.02 |
|
|
|
|
|
|
|
- |
|
| Granted |
|
|
295,000 |
|
|
$ |
3.95 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(265,600 |
) |
|
$ |
3.70 |
|
|
|
|
|
|
$ |
2,002,502 |
|
| Forfeited/expired/cancelled |
|
|
(64,500 |
) |
|
$ |
3.67 |
|
|
|
|
|
|
|
|
|
| Options
outstanding end of period (3) |
|
|
983,300 |
|
|
$ |
5.15 |
|
|
|
4.9 |
|
|
$ |
5,734,647 |
|
| Options
exercisable at June 30, 2023(3) |
|
|
278,300 |
|
|
$ |
4.75 |
|
|
|
3.4 |
|
|
$ |
1,732,347 |
|
| (1) |
Options
with exercise price ranging from $3.15 to $9.81. |
| (2) |
Options
with exercise price ranging from $3.15 to $7.50. |
| (3) |
Options
with exercise price ranging from $2.79 to $7.50. |
| (4) |
The
intrinsic value of a stock option is the amount by which the market value of the underlying
stock exceeds the exercise price of the option. |
|