v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Awards (RSA) Activity

The following is a summary of RSA transactions as of and for the three months ended March 31, 2025:

 

 

Unvested Shares

 

 

Weighted-Average
Grant Date Fair Value

 

Unvested, December 31, 2024

 

 

2,255

 

 

$

11.98

 

Vested

 

 

 

 

 

11.98

 

Forfeited

 

 

(13

)

 

 

11.98

 

Unvested, March 31, 2025

 

 

2,242

 

 

$

11.98

 

Summary of Restricted Stock Unit (RSU) Activity

The following is a summary of RSU transactions as of and for the three months ended March 31, 2025:

 

 

Unvested Shares

 

 

Weighted-Average
Grant Date Fair Value

 

Outstanding, December 31, 2024

 

 

24,003

 

 

$

6.72

 

Granted

 

 

11,965

 

 

 

7.80

 

Vested

 

 

(6,104

)

 

 

7.03

 

Canceled and forfeited

 

 

(2,047

)

 

 

7.17

 

Outstanding, March 31, 2025

 

 

27,817

 

 

$

7.09

 

Summary of Stock Option Activity

The following is a summary of stock option activity as of and for the three months ended March 31, 2025:

 

 

Number of Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining Contractual Term (Years)

 

 

Aggregate Intrinsic Value

 

Outstanding, December 31, 2024

 

 

13,476

 

 

$

7.42

 

 

 

6.43

 

 

$

2,300

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Canceled and forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, March 31, 2025

 

 

13,476

 

 

$

7.42

 

 

 

6.18

 

 

$

1,413

 

Exercisable at March 31, 2025

 

 

2,246

 

 

$

7.42

 

 

 

6.22

 

 

$

235

 

Vested or expected to vest at March 31, 2025

 

 

13,476

 

 

$

7.42

 

 

 

6.18

 

 

$

1,413

 

Summary of Unit Based Compensation Expense

The Company recognized stock-based compensation expense related to RSUs and stock options within general and administrative expenses in the unaudited consolidated statements of operations and comprehensive income (loss) as follows:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Stock-based compensation expense

 

$

18,584

 

 

$

20,581