v3.25.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
Class Of Stock [Line Items]  
Summary of Restricted Stock Units

The following table includes the number of restricted stock units granted, vested, forfeited and outstanding as of June 30, 2025:

 

 

 

2025

 

 

 

Number of Units

 

 

Weighted Average
Grant Date Fair Value

 

Outstanding January 1,

 

 

754,329

 

 

$

40.51

 

Granted

 

 

314,297

 

 

 

30.89

 

Vested

 

 

(258,531

)

(1)

 

41.94

 

Forfeited

 

 

(3,658

)

 

 

38.41

 

Outstanding June 30,

 

 

806,437

 

 

$

37.51

 

 

(1)
Certain key employees of the Adviser elected to net the taxes owed upon vesting against the shares issued and certain awards, including 19,200 restricted stock units, were cash settled resulting in 184,042 shares being issued as shown on the Consolidated Statement of Stockholders’ Equity.
Summary Information of 2020 ATM Program The following table contains summary information of the 2020 ATM Program since its inception:

 

 

Gross proceeds

 

$

62,310,967

 

Common shares issued

 

 

1,120,910

 

Gross average sale price per share

 

$

55.59

 

 

 

 

 

Sales commissions

 

$

934,665

 

Offering costs

 

 

1,353,015

 

Net proceeds

 

$

60,023,287

 

Average price per share, net

 

$

53.55

 

2016 LTIP  
Class Of Stock [Line Items]  
Summary of Granted and Vesting of Restricted Stock Units

The following table contains information regarding the vesting of restricted stock units under the 2016 LTIP and 2025 LTIP for the next five calendar years subsequent to June 30, 2025:

 

 

 

Shares Vesting

 

 

 

 

 

 

February

 

 

March

 

 

May

 

 

Total

 

2026

 

 

62,885

 

 

 

112,627

 

 

 

79,325

 

 

 

254,837

 

2027

 

 

84,502

 

 

 

112,627

 

 

 

 

 

 

197,129

 

2028

 

 

58,746

 

 

 

112,622

 

 

 

 

 

 

171,368

 

2029

 

 

117,480

 

 

 

65,623

 

 

 

 

 

 

183,103

 

Total

 

 

323,613

 

 

 

403,499

 

 

 

79,325

 

 

 

806,437

 

2016 LTIP | Directors, Officers, Employees and Certain Key Employees of Adviser  
Class Of Stock [Line Items]  
Summary of Granted and Vesting of Restricted Stock Units The following table includes the number of restricted stock units granted to its directors, officers, employees and certain key employees of the Adviser under the 2016 LTIP and 2025 LTIP:

 

 

 

Summary of Grants

 

 

 

 

 

 

February

 

 

March

 

 

May

 

 

Total

 

2021

 

 

204,663

 

 

 

 

 

 

 

 

 

204,663

 

2022

 

 

142,519

 

 

 

 

 

 

 

 

 

142,519

 

2023

 

 

 

 

 

260,709

 

 

 

 

 

 

260,709

 

2024

 

 

 

 

 

355,475

 

 

 

 

 

 

355,475

 

2025

 

 

 

 

 

 

 

 

314,297

 

 

 

314,297

 

Total

 

 

347,182

 

 

 

616,184

 

 

 

314,297

 

 

 

1,277,663

 

 

As of June 30, 2025 and December 31, 2024, the Company had 492,140 and 754,329, respectively, unvested restricted stock units outstanding under the 2016 LTIP. As of June 30, 2025, the Company had 314,297 unvested restricted stock units outstanding under the 2025 LTIP.