Stock Options Restricted Stock (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Stock Options and Restricted Stock |
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| Summary of weighted average assumptions used in the model for valuing stock option grants |
The weighted average assumptions used in the model for valuing stock options grants for the six months ended June 30, 2025, are as follows: | | | | | | June 30, | | | | 2025 | | Dividend Yield | | — | % | Expected Life | | 7 | Years | Expected Volatility | | 30.83 | % | Risk-Free Interest Rate | | 4.42 | % |
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| Summary of the status of the Company's outstanding stock options |
The following table presents a summary of the status of the Company’s outstanding stock options for the six months ended June 30, 2025: | | | | | | | | June 30, 2025 | | | | | Weighted | | | | | Average | | | Shares | | Exercise Price | Outstanding at Beginning of Year | | 1,860,609 | | $ | 10.69 | Granted | | 275,000 | | | 13.77 | Exercised | | (42,175) | | | 9.37 | Forfeitures | | (16,500) | | | 12.94 | Outstanding at Period End | | 2,076,934 | | $ | 11.11 | | | | | | | Options Exercisable at Period End | | 1,446,933 | | $ | 10.33 |
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| Summary of information pertaining to options outstanding based on range of exercise price |
The following table presents information pertaining to options outstanding at June 30, 2025: | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | | | | | Weighted Average | | | | | | | | Number of | | Weighted Average | | Remaining Contractual | | Number of | | Weighted Average | Range of Exercise Prices | | Options | | Exercise Price | | Life in Years | | Options | | Exercise Price | $ | 7.00 - 7.99 | | 801,820 | | $ | 7.47 | | 2.3 | | 801,820 | | $ | 7.47 | | 8.00 - 8.99 | | 7,461 | | | 8.76 | | 4.8 | | 7,461 | | | 8.76 | | 10.00 - 10.99 | | 216,125 | | | 10.62 | | 7.9 | | 54,499 | | | 10.55 | | 11.00 - 11.99 | | 230,000 | | | 11.16 | | 6.7 | | 117,875 | | | 11.22 | | 12.00 - 12.99 | | 251,028 | | | 12.91 | | 4.1 | | 251,028 | | | 12.91 | | 13.00 - 13.99 | | 285,000 | | | 13.75 | | 9.6 | | — | | | — | | 17.00 - 17.99 | | 285,500 | | | 17.50 | | 6.6 | | 214,250 | | | 17.50 | | Totals | | 2,076,934 | | $ | 11.11 | | 5.2 | | 1,446,933 | | $ | 10.33 |
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| Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding |
The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the six months ended June 30, 2025: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Shares | | Date Fair Value | Nonvested Options at December 31, 2024 | | 437,501 | | $ | 5.18 | Granted | | 275,000 | | | 5.83 | Vested | | (72,625) | | | 5.28 | Forfeited | | (9,875) | | | 4.58 | Nonvested Options at June 30, 2025 | | 630,001 | | $ | 5.46 |
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| Summary of the status of the Company's outstanding restricted stock units |
The following table presents an analysis of nonvested restricted stock units outstanding for the six months ended June 30, 2025: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Units | | Date Fair Value | Nonvested at December 31, 2024 | | 415,758 | | $ | 14.46 | Granted | | 55,355 | | | 13.78 | Vested | | (38,462) | | | 14.09 | Forfeited | | (8,398) | | | 14.39 | Nonvested at June 30, 2025 | | 424,253 | | $ | 14.40 |
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