In January 2019, the Company’s board of directors adopted the 2019 Stock Incentive Plan (the “Plan”). As of June 30, 2025, a total of 1,269,017 shares of common stock were available for further award grants under the Plan. For the three months ended June 30, 2025 and 2024, the Company recognized a total of $445,000 and $940,000 in stock-based compensation expense, respectively. For the six months ended June 30, 2025 and 2024, the Company recognized a total of $791,000 and $1,315,000 in stock-based compensation expense, respectively. The Company recognizes stock-based compensation over the vesting period, which is generally within three years for both the restricted stock units and stock options.


	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contract Life	Aggregate Intrinsic Value
				(in years)	(in thousands)
Outstanding at December 31, 2024	313,667	$	18.57	6.8	$	3,667
Exercised	(10,350)	18.86
Outstanding at June 30, 2025	303,317	$	18.57	6.3	$	2,912
Vested and expected to vest at June 30, 2025	303,317	$	18.57	6.3	$	2,912
Exercisable at June 30, 2025	303,317	$	18.57	6.3	$	2,912

There were no stock options granted or forfeited during the six months ended June 30, 2025. At June 30, 2025, all stock options granted under the Plan were fully vested and exercisable.

The aggregate intrinsic value is calculated by subtracting the exercise price of the option from the closing price of the Company’s common stock on June 30, 2025, multiplied by the number of shares per each option.


	Number of Shares Outstanding	Weighted Average Grant Date Fair Value
Unvested at December 31, 2024	70,800	$	29.14
Granted	18,000	26.58
Vested	(35,800)	29.01
Unvested at June 30, 2025	53,000	$	28.36

At June 30, 2025, total remaining stock-based compensation cost for unvested restricted stock units was approximately $665,000. The cost is expected to be recognized over a weighted-average period of 0.9 years.