v3.25.4
Stockholders’ Equity (Tables)
12 Months Ended
Dec. 31, 2025
Stockholders’ Equity [Abstract]  
Schedule of Restricted Stock Awards

Based on the closing market price of our common stock on December 31, 2025 and 2024 of $12.26 and $15.42, respectively, the aggregate intrinsic value of our restricted stock awards was as follows:

 

 

As of December 31, 2025

 

 

As of December 31, 2024

 

 

Outstanding

 

 

Vested

 

 

Outstanding

 

 

Vested

 

Aggregate intrinsic value

 

$

4,951,152

 

 

$

4,916,235

 

 

$

6,342,292

 

 

$

3,182,441

 

Schedule of Restricted Stock Activity

The following table summarizes the restricted stock activity for the Company’s directors and officers and employees of the Manager during the years ended December 31, 2025 and 2024, and the balance of unvested restricted stock as of such dates.

 

 

Unvested Restricted Stock

 

 

Weighted Average Grant Date
Fair Value
per Share

 

Balance at January 1, 2024

 

 

366,647

 

 

$

14.86

 

Granted

 

 

187,335

 

 

 

15.59

 

Vested

 

 

(142,679

)

 

 

15.00

 

Forfeited

 

 

-

 

 

 

-

 

Balance at December 31, 2024

 

 

411,303

 

 

$

15.14

 

Granted

 

 

187,157

 

 

 

14.79

 

Vested

 

 

(186,487

)

 

 

15.09

 

Forfeited

 

 

(8,127

)

 

 

15.38

 

Balance at December 31, 2025

 

 

403,846

 

 

$

15.00