Note 7 - Stock Based Compensation
|3 Months Ended|
Jun. 30, 2016
|Note 7 - Stock Based Compensation||
NOTE 7 STOCK BASED COMPENSATION
On May 25, 2016 the Company granted a total of 315,500 stock options to employees. The options vest 1/3 each year for 3 years, with the first vesting occurring on the first anniversary of the vesting date. The Company estimates the fair value of each option award at the grant date by using the Black-Scholes option pricing model.
Additionally, the Company granted 15,000 RSUs to Ryan Oviatt, the Company CFO vesting immediately on the date of grant, pursuant to his employment agreement. The Company estimates the fair value of the RSUs at their intrinsic value at the time of granting.
The Company recognized $143,765 and $187,406 in expense for the fair value of previously granted stock based compensation vested during the three months ended June 30, 2016, and 2015, respectively. Stock compensation expense is recognized on a pro-rata basis over the vesting period of the equity awards. During the three month periods ended June 30, 2016 the Company recognized $143,765 in compensation expense arising from equity awards issued, leaving $1,142,898 of compensation expense on equity awards to be recognized subsequent to June 30, 2016.
A summary of the status of the Companys stock option plans and the changes during each period are presented below:
The following table summarizes information about the Companys outstanding stock options:
The following table summarizes information about non-vested options as of the three months ended June 30, 2016:
The following table summarizes information about non-vested restricted stock awards as of the three months ended June 30, 2016:
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef