v3.26.1
Equity Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2025
Equity Compensation Plan Arrangement [Abstract]  
Summary of Company's Non-Vested Restricted Shares
A summary of the status of
the Company’s non-vested restricted
shares as of 2023, 2024 and 2025, is presented below:
 
    
Number of restricted
shares
    
Weighted average grant
date fair value per
non-vested
share
 
Non-vested,
January 1, 2023
  
 
190,476
 
  
 
5.25
 
Granted
     1,585,311        2.42  
Vested
     (235,434 )       (3.64 ) 
  
 
 
    
 
 
 
Non-vested, December 31,
2023
  
 
1,540,353
    
 
2.58
 
Granted
     426,253      3.60  
Vested
     (882,992 )       (2.72 ) 
Forfeited
     (4,901 )       (2.55 ) 
  
 
 
    
 
 
 
Non-vested, December 31,
2024
  
 
1,078,713
    
 
2.87
 
Granted
     823,494        3.10  
Vested
     (863,086 )       (2.18 ) 
Forfeited
     (2,500 )       (3.60 ) 
  
 
 
    
 
 
 
Non-vested, December 31,
2025
  
 
1,036,621
    
 
3.63
 
Summary of the Company's Non-Vested Stock Option Activity and Related Information
A summary of the Company’s
non-vested stock
option activity and related information for the years ended December 31, 2023, 2024 and 2025, is as follows:
 
    
December 31, 2025
 
    
Option shares
#
    
Weighted-
Average

Exercise Price
$
 
Outstanding, January 1, 2023
     —         —   
  
 
 
    
 
 
 
Granted
     631,250        1.60  
  
 
 
    
 
 
 
Outstanding, December 31, 2023
  
 
631,250
 
  
 
1.60
 
  
 
 
    
 
 
 
Exercisable, December 31, 2023
  
 
— 
 
  
 
— 
 
  
 
 
    
 
 
 
Granted
     111,000        3.60  
  
 
 
    
 
 
 
Exercised
     (296,875 )       1.60  
  
 
 
    
 
 
 
Outstanding, December 31, 2024
  
 
445,375
 
  
 
2.10
 
  
 
 
    
 
 
 
Exercisable, December 31, 2024
  
 
18,750
 
  
 
1.60
 
  
 
 
    
 
 
 
Granted
     611,503        3.11  
Exercised
     (346,875 )       1.89  
  
 
 
    
 
 
 
Outstanding, December 31, 2025
  
 
710,003
 
  
 
3.07
 
  
 
 
    
 
 
 
Exercisable, December 31, 2025
  
 
43,000
 
  
 
1.86