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NOTE 9 – EQUITY BASED COMPENSATION

The Company maintains certain stock-based compensation plans that were approved by the Company’s shareholders and are administered by the Compensation Committee of the Company’s Board of Directors. The stock-based compensation plans provide for the granting of stock options, time and performance based restricted stock units (RSU’s), among other awards to employees, non-employee directors, consultants, and service providers. As of March 31, 2025, the Company had available 4,694,636 shares remaining for future awards under its Omnibus Incentive Plans.

Compensation Expense – The Company recognized the following compensation costs, net of actual forfeitures, related to restricted stock units (“RSUs”) and stock options:

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Restricted Stock Units – We typically grant RSUs to employees and non-employee directors. The following table summarizes the changes in unvested RSUs from January 1, 2025 through March 31, 2025.

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As of March 31, 2025, unrecognized compensation expense for RSUs amounted to $314 which is expected to be recognized over a weighted average period of approximately 2.8 years.

Stock Options – Our outstanding stock options were valued using the Black-Scholes option-pricing model on the date of the award. A summary of the status of stock options activity since January 1, 2025 and at March 31, 2025 is as follows:

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The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option.

As of March 31, 2025, unrecognized compensation expense for stock options amounted to $820 which is expected to be recognized over a weighted average period of approximately 2.8 years.

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The weighted average of fair value assumptions used in the Black-Scholes option-pricing model for such grants were as follows:

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