NOTE 12. STOCK BASED AWARDS

The Company’s 2017 Plan provides for awards of common stock in the form of incentive stock options, non-qualified stock options, SARs, restricted stock, performance shares or other stock-based awards. Awards are discretionary. The exercise price of stock options is equal to the fair market value of the underlying Common Stock on the date of grant. The options vest on the anniversary of the grant over a four-year term.

The following table summarizes stock option award activity during the six months ended June 30, 2018:

Stock compensation expense related to the options totaled approximately $14 and $28 for the three and six months ended June 30, 2018. No stock compensation expense related to options was incurred for the three or six months ended June 30, 2017.

As of June 30, 2018, the Company had unrecognized compensation expense related to stock options of $174. This expense will be recognized over a weighted-average number of years of 3.2, based on the average remaining service periods for the awards.

The aggregate intrinsic values presented above represent the total pre-tax intrinsic values (the difference between the Company’s closing stock price of $19.30 on the last trading day, June 29, 2018 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the last trading day of the second quarter of 2018. The amount of aggregate intrinsic value will change based on the price of the Company’s Common Stock.

There were no stock options granted and/or exercised for the six months ended June 30, 2018.

Warrants

A summary of the warrant activity for the six months ended June 30, 2018 is as follows: