| Share-based Payment Arrangement, Activity |
The following table presents our total stock-based compensation expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
Employee stock-based compensation expense |
|
|
|
|
|
|
|
|
Pre-tax (1) |
$ |
3,798 |
|
|
$ |
2,097 |
|
|
$ |
1,082 |
|
Post-tax (2) |
|
3,000 |
|
|
|
1,657 |
|
|
|
855 |
|
Director stock-based compensation expense |
|
|
|
|
|
|
|
|
Pre-tax (1) |
|
501 |
|
|
|
448 |
|
|
|
174 |
|
Post-tax (2) |
|
396 |
|
|
|
354 |
|
|
|
137 |
|
(1) This table does not include withholding of vested shares for tax liabilities, which totaled $1,855,000, $1,359,000 and $24,000 in 2025, 2024, and 2023, respectively. (2) The after-tax amounts are determined using the 21% corporate federal tax rate.
|
| Schedule of Nonvested Share Activity |
The following table presents certain information related to the activity of our non-vested common stock grants:
|
|
|
|
|
|
|
|
|
Number of
Restricted
Shares |
|
|
Weighted
Average Grant
Date Fair Value |
|
Outstanding as of December 31, 2022 |
|
714,239 |
|
|
$ |
2.73 |
|
Granted |
|
45,000 |
|
|
|
5.25 |
|
Less: Forfeited |
|
132,259 |
|
|
|
3.16 |
|
Less: Vested |
|
181,334 |
|
|
|
3.25 |
|
Outstanding as of December 31, 2023 |
|
445,646 |
|
|
$ |
2.64 |
|
Granted (1) |
|
598,713 |
|
|
|
7.41 |
|
Less: Forfeited |
|
1,476 |
|
|
|
4.56 |
|
Less: Vested |
|
436,472 |
|
|
|
3.36 |
|
Outstanding as of December 31, 2024 |
|
606,411 |
|
|
$ |
6.23 |
|
Granted |
|
466,672 |
|
|
|
11.48 |
|
Less: Forfeited |
|
1,509 |
|
|
|
11.51 |
|
Less: Vested |
|
494,793 |
|
|
|
5.29 |
|
Outstanding as of December 31, 2025 |
|
576,781 |
|
|
$ |
10.12 |
|
(1) Contingent shares granted during 2023 have been included in the calculation of 2024’s granted values.
|
| Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity |
The following table presents certain information related to the activity of our non-vested stock option grants:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Stock Options |
|
|
Weighted
Average
Exercise Prices |
|
|
Weighted Average Remaining Contractual Term (years) |
|
|
Aggregate
Intrinsic
Value (1) |
|
Outstanding as of December 31, 2022 |
|
1,250,685 |
|
|
$ |
3.71 |
|
|
|
7.66 |
|
|
$ |
— |
|
Granted |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
40,000 |
|
|
|
3.46 |
|
|
|
— |
|
|
|
— |
|
Less: Expired |
|
161,925 |
|
|
|
3.05 |
|
|
|
— |
|
|
|
— |
|
Less: Exercised |
|
20,000 |
|
|
|
3.46 |
|
|
|
— |
|
|
|
— |
|
Outstanding as of December 31, 2023 |
|
1,028,760 |
|
|
$ |
3.83 |
|
|
|
7.80 |
|
|
$ |
6,151,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and Exercisable as of December 31, 2023 |
|
580,568 |
|
|
$ |
4.78 |
|
|
|
7.56 |
|
|
$ |
3,071,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding as of December 31, 2023 |
|
1,028,760 |
|
|
$ |
3.83 |
|
|
|
7.80 |
|
|
$ |
6,151,000 |
|
Granted (2) |
|
196,275 |
|
|
|
4.82 |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Expired |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Exercised |
|
95,000 |
|
|
|
2.35 |
|
|
|
— |
|
|
|
— |
|
Outstanding as of December 31, 2024 |
|
1,130,035 |
|
|
$ |
4.12 |
|
|
|
7.21 |
|
|
$ |
10,202,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and Exercisable as of December 31, 2024 |
|
840,768 |
|
|
$ |
4.30 |
|
|
|
6.79 |
|
|
$ |
7,501,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding as of December 31, 2024 |
|
1,130,035 |
|
|
$ |
4.12 |
|
|
|
7.21 |
|
|
$ |
10,202,000 |
|
Granted |
|
76,141 |
|
|
|
11.63 |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Expired |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Exercised |
|
240,446 |
|
|
|
3.17 |
|
|
|
— |
|
|
|
— |
|
Outstanding as of December 31, 2025 |
|
965,730 |
|
|
$ |
4.95 |
|
|
|
6.50 |
|
|
$ |
6,949,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and Exercisable as of December 31, 2025 |
|
799,869 |
|
|
$ |
4.24 |
|
|
|
6.02 |
|
|
$ |
6,368,000 |
|
(1) Presented in ones. (2) Contingent shares granted as of December 31, 2023 have been included in the calculation of granted values as of December 31, 2024.
|