v3.25.4
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
STOCK-BASED COMPENSATION  
Schedule of stock option activity

Weighted Average

Remaining

Aggregate

Weighted Average

Contractual

Intrinsic Value

Shares

Exercise Price

Life (in years)

(000)'s

Outstanding at January 1, 2025

840,000

$

9.42

Granted

65,000

$

13.63

Exercised

(10,500)

$

9.39

Forfeited

(62,000)

$

9.39

Outstanding at December 31, 2025

832,500

$

9.75

8.50

$

3,105

Vested at period-end

157,500

$

9.42

8.39

$

639

Expected to vest

675,000

$

9.83

8.52

$

2,466

Schedule of stock options granted under the stock plan by exercise price range

Exercise Price Ranges

$9.39

$11.77 to $12.62

$14.46

Total

Outstanding at December 31, 2025

Number of Stock Options Outstanding

757,500

35,000

40,000

832,500

Weighted-Average Remaining Contractual Life (in years)

8.38

9.26

9.95

8.50

Weighted-Average Exercise Price

$

9.39

$

12.15

$

14.46

$

9.75

Schedule of stock option information

During the year ended

During the six months ended

During the fiscal year ended

December 31, 2025

December 31, 2024

June 30, 2024

Weighted average grant date information

Stock options granted

65,000

10,000

830,000

Fair value of options granted

$

5.21

$

4.69

$

3.85

Fair value assumptions:

Expected volatility

29.06

%

30.19

%

31.34

%

Dividend yield

-

%

-

%

-

%

Risk free interest rate

3.93

%

4.18

%

4.31

%

Expected lives (in years)

6.50

6.50

6.50

Amount expensed during the period (in thousands)

$

589

$

320

$

72

Compensation costs for non-vested awards not yet recognized (in thousands)

$

2,362

$

2,851

$

3,124

Weighted average expected vesting period, in years

1.96

2.40

2.89

Proceeds from stock options exercised (in thousands)

$

76

$

-

$

-

Tax benefits related to stock options exercised (in thousands)

$

-

$

-

$

-

Intrinsic value of stock options exercised (in thousands)

$

45

$

-

$

-

Schedule of restricted stock activity

Weighted Average

Grant Date

Shares

Fair Value

Non-vested at January 1, 2025

395,000

$

9.42

Granted

30,000

$

13.74

Vested

(79,000)

$

9.42

Forfeited

(28,000)

$

9.39

Non-vested at December 31, 2025

318,000

$

9.83

Schedule of amounts expensed related to share-based payment awards

The following table presents information on the amounts expensed related to restricted stock awarded pursuant to the Stock Plan for the year ended December 31, 2025.

Amount expensed during the year (in thousands)

$

678

Compensation costs for non-vested awards not yet recognized (in thousands)

$

2,744

Weighted average expected vesting period, in years

1.96