Note 11:       Stock-Based Compensation

From time to time, the Company grants stock options and restricted stock awards to directors, officers and employees. These awards are valued at the grant date by determining the fair value of the instruments, net of estimated forfeitures. The value of each award is amortized on a straight-line basis over the requisite service period.

Stock Options

The following table summarizes stock option activity for the years ended September 30, 2020 and 2019:

The Company recognized compensation expense of $86 and $142 during the years ended September 30, 2020 and 2019, respectively, related to stock option awards granted to certain employees and officers based on the grant date fair value of the awards, net of estimated forfeitures. No forfeitures are estimated.

At September 30, 2020 the Company had $59, of unrecognized compensation expense (net of estimated forfeitures) associated with stock option awards which the Company expects will be recognized through October of 2022.

The exercise price for stock options outstanding and exercisable at September 30, 2020 is as follows:

The following table summarizes information about the Company’s non-vested shares as of September 30, 2020:

No stock options were granted during the years ended September 30, 2020 and 2019.