Annual report [Section 13 and 15(d), not S-K Item 405]

the 2003 Plan provides for the issuance to each Eligible Director a number of shares of the Company’s Common Stock in lieu of 65% or 100% (based on option elected by each director) of the fee payable to the Eligible Director for services rendered as a member of the Board. The number of shares issued to each Eligible Director is determined based on 75% of the market value as defined in the plan (the Company recognizes 100% of the market value of the shares issued).

Shares remaining available for issuance

83,971

2017 Stock Option Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vests period

5 years

Vests percentage

20.00%

Shares remaining available for issuance

51,000

Number of shares authorized for issuance

600,000

Stock option granted, description

The term of each stock option granted under the 2017 Plan shall be fixed by the Compensation and Stock Option Committee (the “Compensation Committee”), but no stock options will be exercisable more than ten years after the grant date, or in the case of an ISO granted to a 10% stockholder, five years after the grant date. The exercise price of any ISO granted under the 2017 Plan to an individual who is not a 10% stockholder at the time of the grant shall not be less than the fair market value of the shares at the time of the grant, and the exercise price of any ISO granted to a 10% stockholder shall not be less than 110% of the fair market value at the time of grant.

Number of shares grants

50,000

Vests period

6 years

Stock options, exercise price

$ 10.70

2017 Stock Option Plan [Member] | Incentive Stock Option Agreement [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Stock options, exercise price

$ 10.05

$ 7.75

Shares options granted

35,500

45,000

Weighted average contractual term (years) outstanding

6 years

Vesting, description

vests at 20% per year over a five-year period, commencing on the first anniversary of the grant date

2003 Outside Directors Stock Option Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vests period

4 years

Vests percentage

25.00%

Percentage of directors fees, description

As a member of the Board, each director elects to receive either 65% or 100% of the director’s fee in shares of the Company’s Common Stock. The number of shares received is calculated based on 75% of the fair market value of our Common Stock determined on the business day immediately preceding the date that the quarterly fee is due.

Number of shares grants

10,000

Stock options, exercise price

$ 12.23

2003 Outside Directors Stock Option Plan [Member] | Common Stock [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Stock issued for services

50,162

46,947

2003 Outside Directors Stock Plan [Member] | Portion of Director Fee Earned in Common Stock [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Compensation expense

$ 479,000

$ 480,000

[1]	Options with exercise prices ranging from $3.31 to $12.23^.
[2]	Options with exercise prices ranging from $3.15 to $10.20^.