Stock-based Compensation |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK-BASED COMPENSATION |
STOCK-BASED COMPENSATION
On June 15, 2005, the shareholders approved an amended and Restated Stock Option Plan amending the 2003 Stock Option Plan (the “Plan”). The Plan authorizes the issuance of up to one million shares of common stock (subject to customary adjustments set forth in the plan) pursuant to equity awards, which may take the form of incentive stock options, nonqualified stock options, restricted shares, stock appreciation rights and/or performance shares. The plan expired in April, 2015. On August 13, 2015, the shareholders approved the 2015 CCA Industries, Inc. Incentive Plan (the "2015 Plan"). The 2015 Plan authorizes the issuance of up to 700,000 shares of common stock (subject to customary adjustments set forth in the plan) pursuant to equity awards, which may take the form of incentive stock options, nonqualified stock options, stock appreciation rights and/or restricted stock. On June 7, 2017, the shareholders approved an amendment to the 2015 CCA Industries, Inc. Incentive Plan increasing the shares available that can be issued from 700,000 to 1,400,000 shares of common stock.
The Company recorded a charge against earnings in the amount of $48,392 for the three months ended August 31 , 2017 and $97,707 for the three months ended August 31, 2016 for all outstanding stock options granted. The Company recorded a charge against earnings in the amount of $126,863 and $238,685, respectively, for the nine months ended August 31, 2017 and August 31, 2016 for all stock options granted.
A summary of stock option activity for the Company is as follows:
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