v3.26.1
Equity Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2025
Equity Compensation Plan Arrangement [Abstract]  
Summary of Company's Non-Vested Restricted Shares
A summary of the status of
the Company’s non-vested restricted
shares as of 2023, 2024 and 2025, is presented below:
 
    
Number of restricted
shares
    
Weighted average grant
date fair value per
non-vested
share
 
Non-vested,
January 1, 2023
  
 
190,476
 
  
 
5.25
 
Granted
     1,585,311        2.42  
Vested
     (235,434      (3.64
  
 
 
    
 
 
 
Non-vested, December 31,
2023
  
 
1,540,353
    
 
2.58
 
Granted
     426,253      3.60  
Vested
     (882,992      (2.72
Forfeited
     (4,901      (2.55
  
 
 
    
 
 
 
Non-vested, December 31,
2024
  
 
1,078,713
    
 
2.87
 
Granted
     823,494        3.10  
Vested
     (863,086      (2.18
Forfeited
     (2,500      (3.60
  
 
 
    
 
 
 
Non-vested, December 31,
2025
  
 
1,036,621
    
 
3.63
 
Summary of the Company's Non-Vested Stock Option Activity and Related Information
A summary of the Company’s
non-vested stock
option activity and related information for the years ended December 31, 2023, 2024 and 2025, is as follows:
 
    
December 31, 2025
 
    
Option shares
#
    
Weighted-
Average

Exercise Price
$
 
Outstanding, January 1, 2023
     —         —   
  
 
 
    
 
 
 
Granted
     631,250        1.60  
  
 
 
    
 
 
 
Outstanding, December 31, 2023
  
 
631,250
 
  
 
1.60
 
  
 
 
    
 
 
 
Exercisable, December 31, 2023
  
 
— 
 
  
 
— 
 
  
 
 
    
 
 
 
Granted
     111,000        3.60  
  
 
 
    
 
 
 
Exercised
     (296,875      1.60  
  
 
 
    
 
 
 
Outstanding, December 31, 2024
  
 
445,375
 
  
 
2.10
 
  
 
 
    
 
 
 
Exercisable, December 31, 2024
  
 
18,750
 
  
 
1.60
 
  
 
 
    
 
 
 
Granted
     611,503        3.11  
Exercised
     (346,875      1.89  
  
 
 
    
 
 
 
Outstanding, December 31, 2025
  
 
710,003
 
  
 
3.07
 
  
 
 
    
 
 
 
Exercisable, December 31, 2025
  
 
43,000
 
  
 
1.86