RESTRICTED STOCK UNITS

6 Months Ended

Jun. 30, 2025

9. RESTRICTED STOCK UNITS

A summary of restricted stock unit activity for the six months ended June 30, 2025 is presented below.

				Weighted-
				Average
				Grant Date
	Shares			Fair Value

Non-vested at January 1, 2025		198,823		$	12.28
Granted		410,435			5.32
Vested/deemed vested		(240,023	)		5.66
Forfeited		(3,574	)		19.63
Non-vested at June 30, 2025		365,661		$	8.74

The total fair value of restricted stock units that vested or deemed vested during the six months ended June 30, 2025 was $1,358. The total stock compensation expense recognized relating to the vesting of restricted stock units for the three and six months ended June 30, 2025 and 2024 amounted to $1,412 and $104, and $2,253 and $209, respectively. As of June 30, 2025, the amount of unvested compensation related to issuances of restricted stock units was $2,482 which will be recognized as part of operating expense through January 2029.

See Note 15 – Subsequent Events.