Note 13 - Stock-based Compensation
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
Note
13
– Stock-Based Compensation
 
In
October
2011,
the Company’s stockholders approved the
2011
Equity Incentive Plan, which was subsequently amended and restated in
March
2013
(as amended, the
“2011
Equity Plan”). The
2011
Equity Plan provides directors, executive officers, and other employees of the Company with additional incentives by allowing them to acquire ownership interest in the business and, as a result, encouraging them to contribute to the Company’s success. The Company
may
provide these incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and units, and other cash-based or stock-based awards. As of
December
31,
2016,
619,153
shares of common stock are authorized and reserved for issuance under the
2011
Equity Plan. This reserve automatically increases on each
January
 
1
from
2014
through
2023,
by an amount equal to the smaller of (i) 
3.5%
of the number of shares issued and outstanding on the immediately preceding
December
 
31,
or (ii) an amount determined by the Company’s Board of Directors. The restricted shares of common stock granted generally provide for service-based vesting after
two
to
four
years following the grant date. A summary of the changes in unvested shares of the restricted stock during the year ended
December
31,
2016
is presented below.
 
The following table summarizes the status of restricted stock awards as of
December
 
31,
2016
and
2015,
and changes during the year ended
December
 
31,
2016:
 
 
 
Number of Unvested Restricted Shares of Common Stock and Restricted Stock
Units
 
 
Weighted Average
Grant Date Fair
Value
 
                 
Unvested shares as of January 1, 2016
   
430,816
    $
13.08
 
Granted
   
200,622
    $
26.31
 
Vested
   
(109,503
)   $
8.12
 
Forfeited
   
(19,162
)   $
15.49
 
Unvested shares as of December 31, 2016
   
502,773
    $
19.35
 
 
 
Share-based compensation expense relating to restricted stock awards during the years ended
December
31,
2016,
2015
and
2014
was
$2,343,
$1,696
and
$752,
respectively. Approximately
$6,252
of deferred compensation, which is expected to be recognized over the remaining weighted average vesting period of
2.6
years, is unrecognized at
December
31,
2016.