Stock Options and Restricted Stock (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Activity for Performance Stock Units and Restricted Stock Programs |
The following table presents the PSU activity for the years ended December 31, 2025, 2024, and 2023.
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|
Number of
Shares |
|
|
|
Grant
Price Per
Share |
|
|
Weighted
Average
Grant Price |
|
Outstanding at December 31, 2022 |
|
|
— |
|
|
$ |
|
— |
|
|
$ |
— |
|
Granted |
|
|
296,444 |
|
|
|
|
6.08 |
|
|
|
6.08 |
|
Cancelled |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Vested |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Outstanding at December 31, 2023 |
|
|
296,444 |
|
|
$ |
|
6.08 |
|
|
$ |
6.08 |
|
Granted |
|
|
215,687 |
|
|
|
|
8.97 |
|
|
|
8.97 |
|
Cancelled |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Vested |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Outstanding at December 31, 2024 |
|
|
512,131 |
|
|
$ |
6.08 - 8.97 |
|
|
$ |
7.30 |
|
Granted |
|
|
311,723 |
|
|
|
|
8.47 |
|
|
|
8.47 |
|
Cancelled |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Vested |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Outstanding at December 31, 2025 |
|
|
823,854 |
|
|
$ |
6.08 - 8.97 |
|
|
$ |
7.74 |
|
The following table presents the restricted stock activity for the years ended December 31, 2025, 2024, and 2023.
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|
Number of
Shares |
|
|
|
Grant
Price Per
Share |
|
Weighted
Average
Grant Price |
|
Outstanding at December 31, 2022 |
|
|
857,288 |
|
|
$ |
4.89 - 7.25 |
|
$ |
7.27 |
|
Granted |
|
|
399,793 |
|
|
|
7.67 - 9.37 |
|
|
8.34 |
|
Cancelled |
|
|
(12,807 |
) |
|
|
4.89 - 8.40 |
|
|
7.24 |
|
Vested (1) |
|
|
(248,898 |
) |
|
|
4.89 - 7.68 |
|
|
7.10 |
|
Outstanding at December 31, 2023 |
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|
995,376 |
|
|
$ |
4.89 - 9.37 |
|
|
7.74 |
|
Granted |
|
|
347,158 |
|
|
|
8.97 - 10.32 |
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|
9.17 |
|
Cancelled |
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|
(32,521 |
) |
|
|
4.89 - 10.32 |
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|
8.07 |
|
Vested (1) |
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|
(400,985 |
) |
|
|
4.89 - 8.40 |
|
|
7.69 |
|
Outstanding at December 31, 2024 |
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|
909,028 |
|
|
$ |
4.89 - 10.32 |
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|
8.30 |
|
Granted |
|
|
332,918 |
|
|
|
8.47 - 10.57 |
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|
8.63 |
|
Cancelled |
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|
(5,373 |
) |
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|
4.89 - 10.32 |
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|
9.16 |
|
Vested (1) |
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|
(484,823 |
) |
|
|
4.89 - 8.97 |
|
|
7.70 |
|
Outstanding at December 31, 2025 (2) |
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|
751,750 |
|
|
$ |
8.08 - 10.57 |
|
$ |
8.83 |
|
(1)The aggregate fair value of the restricted stock vested was $4.2 million, $2.7 million, and $2.1 million for the years ended December 31, 2025, 2024, and 2023. (2)The aggregate fair value of the restricted stock was $7.7 million as of December 31, 2025. The remaining vesting period was 2.2 years at December 31, 2025.
|
| Summary of Activity for Stock Option Programs |
The following table presents stock option activity for the years ended December 31, 2025, 2024, and 2023.
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Number of
Options |
|
|
|
Exercise
Price Per
Share |
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|
Weighted
Average
Exercise Price |
|
Outstanding at December 31, 2022 |
|
|
1,061,849 |
|
|
|
2.14 - 9.38 |
|
|
|
6.51 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
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|
(33,382 |
) |
|
|
4.89 - 9.38 |
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|
|
6.80 |
|
Exercised (1) |
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|
(68,945 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.44 |
|
Outstanding at December 31, 2023 |
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|
959,522 |
|
|
|
2.14 - 9.38 |
|
|
|
6.51 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
|
|
(4,748 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.15 |
|
Exercised (1) |
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|
(40,865 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.35 |
|
Outstanding at December 31, 2024 |
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|
913,909 |
|
|
|
2.14 - 9.38 |
|
|
|
6.52 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
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|
(33,770 |
) |
|
|
4.89 - 9.38 |
|
|
|
7.37 |
|
Exercised (1) |
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|
(82,081 |
) |
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|
4.89 - 7.25 |
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|
6.29 |
|
Outstanding at December 31, 2025 (2) |
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|
798,058 |
|
|
$ |
2.14 - 9.38 |
|
|
$ |
6.50 |
|
Options exercisable at |
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|
|
|
|
|
|
|
|
|
December 31, 2023 |
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|
697,647 |
|
|
|
2.14 - 9.38 |
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|
$ |
6.51 |
|
December 31, 2024 |
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|
829,286 |
|
|
|
2.14 - 9.38 |
|
|
|
6.53 |
|
December 31, 2025 |
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|
798,058 |
|
|
|
2.14 - 9.38 |
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|
6.50 |
|
(1)The aggregate intrinsic value, which represents the difference between the price of the Company’s common stock at the exercise date and the related exercise price of the underlying options, was $0.3 million, $0.1 million, and $0.1 million for the years ended December 31, 2025, 2024, and 2023. (2)The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at December 31, 2025 and the related exercise price of the underlying options, was $3.0 million for outstanding options all of which had previously vested. The remaining contractual life was 4.2 years for outstanding options and at December 31, 2025.
|
| Summary of Activity for Unvested Options Outstanding |
The following table presents the activity for the unvested options outstanding under the plans for the year ended December 31, 2025.
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|
Number of
Options |
|
|
|
Exercise Price
Per Share |
|
|
Weighted
Average
Exercise Price |
|
Outstanding at December 31, 2022 |
|
|
513,423 |
|
|
|
4.89 - 7.25 |
|
|
$ |
6.52 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
|
|
(3,336 |
) |
|
|
4.89 - 7.25 |
|
|
|
5.51 |
|
Vested (1) |
|
|
(248,212 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.55 |
|
Outstanding at December 31, 2023 |
|
|
261,875 |
|
|
|
4.89 - 7.25 |
|
|
|
6.49 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
|
|
(3,822 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.22 |
|
Vested (1) |
|
|
(173,430 |
) |
|
|
4.89 - 7.25 |
|
|
|
6.56 |
|
Outstanding at December 31, 2024 |
|
|
84,623 |
|
|
|
4.89 - 6.79 |
|
|
|
6.37 |
|
Granted |
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
Cancelled |
|
|
(119 |
) |
|
|
|
4.89 |
|
|
|
4.89 |
|
Vested (1) |
|
|
(84,504 |
) |
|
|
4.89 - 6.79 |
|
|
|
6.37 |
|
Outstanding at December 31, 2025 |
|
|
— |
|
|
$ |
|
— |
|
|
$ |
— |
|
(1)The intrinsic value of the options vested was $0.1 million, $0.4 million, and $0.4 million for the years ended December 31, 2025, 2024, and 2023.
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