Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.5.0.2
Stock-Based Compensation
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
The Company granted the following stock-based awards:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2016
 
2015
 
2016
 
2015
Stock options
22,500

 
52,500

 
52,500

 
192,500

Restricted stock awards and restricted stock units

 

 
120,000

 
150,218



With the exception of an award of non-qualified options to purchase 130,000 shares of the Company's common stock to a newly hired executive management level employee on May 18, 2015, the stock options, restricted stock awards and restricted stock units granted during the three and nine months ended September 30, 2016 and 2015 were granted under the Company's Second Amended and Restated 2007 Stock Incentive Plan (the "2007 Plan"), a shareholder approved plan.
On May 12, 2016, the Company’s shareholders approved an amendment to the 2007 Plan to increase the number of shares authorized under the plan by 500,000 to a total of 2,730,320 shares.
The Company recognized the following expense related to its share-based payment arrangements (in thousands):
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2016
 
2015
 
2016
 
2015
Stock-based compensation cost, before income tax benefit:
 
 

 
 

 
 

 
 

Stock options
 
$
94

 
$
130

 
$
398

 
$
503

Restricted stock awards and restricted stock units
 
201

 
232

 
637

 
927

Total stock-based compensation
 
$
295

 
$
362

 
$
1,035

 
$
1,430

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2016
 
2015
 
2016
 
2015
Stock-based compensation cost included in:
 
 

 
 

 
 

 
 

Cost of revenues
 
$
9

 
$
40

 
$
27

 
$
115

Operating expenses
 
286

 
322

 
1,008

 
1,315

Total stock-based compensation
 
$
295

 
$
362

 
$
1,035

 
$
1,430