Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Award Activity
The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2017:
 
 
 
Number of
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Remaining
Contractual
Life
(in Years)
   
Aggregate
Intrinsic
Value
 
Outstanding - December 31, 2016
   
69,950
   
$
12.07
     
9.0
   
$
156,975
 
Granted
   
240,000
     
10.72
                 
Exercised
   
-
     
-
                 
Forfeited/Canceled/Expired
   
(25,053
)
   
(13.93
)
               
Outstanding – September 30, 2017
   
284,897
   
$
10.77
     
9.3
   
$
-
 
 
                               
Exercisable – September 30, 2017
   
124,897
   
$
10.83
     
9.2
   
$
-
 
Schedule of Award Fair Value Assumptions
These options had an aggregate fair value of $1,060,800, using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate
   
2.13
%
Expected dividend yield
   
0.00
%
Expected volatility
   
41.78
%
Expected term
Schedule of Unvested Restricted Stock Activity
A summary of the restricted stock award activity for the nine months ended September 30, 2017 is as follows:
 
 
 
Number of
Shares
 
 
     
Unvested Outstanding at December 31, 2016
   
2,778
 
Granted
   
15,544
 
Forfeited
   
-
 
Vested
   
-
 
Unvested Outstanding at September 30, 2017
   
18,322