v3.23.2
Note 8 - Stock Compensation Plans
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

(8)

STOCK COMPENSATION PLANS

 

Non-vested grants as of December 31, 2022

  1,056,937 

Awarded - weighted average share price on award date was $9.38

  267,000 

Vested - weighted average share price on vested date was $9.18

  (275,221)

Forfeited

  (10,000)

Non-vested grants as of June 30, 2023

  1,038,716 

 

 

 

For the three and six months ended June 30, 2023, our stock compensation was $0.8 million and $2.0 million, respectively. For the three and six months ended June 30, 2022, our stock compensation was $0.1 million and $0.1 million, respectively.  

  

Non-vested RSU grants will vest as follows:

 

Vesting Year

 

RSUs Vesting

 

2023

  199,000 

2024

  300,608 

2025

  539,108 
   1,038,716 

 

The outstanding RSUs have a value of $8.9 million based on the June 30, 2023 closing stock price of $8.57.

 

As of June 30, 2023, unrecognized stock compensation expense is $5.5 million, and we had 391,049 RSUs available for future issuance.  RSUs are not allocated earnings and losses as they are considered non-participating securities.