| Schedule of Share-based Compensation, Allocation of Recognized Period Costs |
The following table summarizes stock-based compensation
recognized for the three months ended March 31, 2025, and 2024 for our employee and director stock options.
Schedule of Share-based Compensation, Allocation of Recognized Period Costs
| |
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
| Stock Options |
|
March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Employee Stock Options |
|
$ |
107,000 |
|
|
$ |
91,000 |
|
| Director Stock Options |
|
|
89,000 |
|
|
|
61,000 |
|
| Total |
|
$ |
196,000 |
|
|
$ |
152,000 |
|
|
| Schedule of Stock Options Roll Forward |
The summary of the Company’s total Stock Option
Plans as of March 31, 2025, and March 31, 2024, along with changes during the periods then ended, is 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 (5)
|
|
| Options outstanding January 1, 2025 |
|
|
1,000,900 |
|
|
$ |
6.18 |
|
|
|
|
|
|
|
- |
|
| Granted |
|
|
50,000 |
|
|
$ |
10.70 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(52,500 |
) |
|
$ |
3.18 |
|
|
|
|
|
|
$ |
389,555 |
|
| Options outstanding end of period (1) |
|
|
998,400 |
|
|
$ |
6.56 |
|
|
|
4.8 |
|
|
$ |
1,392,954 |
|
| Options exercisable at March 31, 2025(2) |
|
|
415,500 |
|
|
$ |
5.75 |
|
|
|
4.1 |
|
|
$ |
685,432 |
|
| |
|
Shares |
|
|
Weighted Average
Exercise
Price
|
|
|
Weighted Average Remaining Contractual Term
(years)
|
|
|
Aggregate Intrinsic
Value (5)
|
|
| Options outstanding January 1, 2024 |
|
|
994,500 |
|
|
$ |
5.57 |
|
|
|
|
|
|
|
- |
|
| Granted |
|
|
45,000 |
|
|
$ |
7.75 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(43,500 |
) |
|
$ |
5.61 |
|
|
|
|
|
|
$ |
212,410 |
|
| Forfeited |
|
|
(11,000 |
) |
|
$ |
7.01 |
|
|
|
|
|
|
|
|
|
| Options outstanding end of period (3) |
|
|
985,000 |
|
|
$ |
5.66 |
|
|
|
4.8 |
|
|
$ |
6,139,346 |
|
| Options exercisable at March 31, 2024(4) |
|
|
350,300 |
|
|
$ |
5.06 |
|
|
|
3.8 |
|
|
$ |
2,391,576 |
|
|
(1)
Options
with exercise prices ranging from $3.31 to $10.70
|
|
(2)
Options
with exercise prices ranging from $3.31 to $9.81
|
|
(3)
Options with exercise prices ranging from
$3.15 to $9.81
|
|
(4)
Options with exercise prices ranging from
$3.15 to $7.50
|
(5)
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. |
|