v3.26.1
Stock Options and Restricted Stock (Tables)
 3 Months Ended
Mar. 31, 2026
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 three months ended March 31, 2026 and the year ended December 31, 2025.

 

Number of
Shares

 

 

 

Grant Price
Per Share

 

 

Weighted
Average
Grant Price

 

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

 

Granted

 

 

216,940

 

 

 

 

10.34

 

 

 

10.34

 

Cancelled

 

 

—

 

 

 

 

—

 

 

 

—

 

Vested (1)

 

 

(296,444

)

 

 

 

6.08

 

 

 

6.08

 

Outstanding at March 31, 2026

 

 

744,350

 

 

$

8.47 - 10.36

 

 

$

9.17

 
(1)
During the three months ended March 31, 2026, 652,577 shares were used in connection with the vesting and settlement of PSUs.

The following table presents restricted stock activity for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

Number of
Shares

 

 

 

Grant Price
Per Share

 

 

Weighted
Average
Grant Price

 

Outstanding at December 31, 2024

 

 

909,028

 

 

$

4.89 - 10.32

 

 

$

8.30

 

Granted

 

 

332,918

 

 

 

8.47 - 10.57

 

 

 

8.63

 

Cancelled

 

 

(5,373

)

 

 

4.89 - 10.32

 

 

 

9.16

 

Vested (1)

 

 

(484,823

)

 

 

4.89 - 8.97

 

 

 

7.70

 

Outstanding at December 31, 2025

 

 

751,750

 

 

 

8.08 - 10.57

 

 

 

8.83

 

Granted

 

 

344,206

 

 

 

 

10.36

 

 

 

10.36

 

Cancelled

 

 

(1,569

)

 

 

9.37 - 10.32

 

 

 

9.82

 

Vested (1)

 

 

(374,797

)

 

 

8.08 - 9.37

 

 

 

8.67

 

Outstanding at March 31, 2026 (2)

 

 

719,590

 

 

$

8.47 - 10.57

 

 

$

9.64

 
(1)
The aggregate fair value of the restricted stock vested, on the date of vesting, was $3.8 million for the three months ended March 31, 2026 and $4.2 million for the year ended December 31, 2025.
(2)
The aggregate fair value of the unvested restricted stock was $6.2 million as of March 31, 2026. The remaining vesting period was 2.9 years at March 31, 2026.
Summary of Activity for Stock Option Programs

The following table presents stock option activity for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

Number of
Options

 

 

 

Exercise Price
Per Share

 

 

Weighted
Average
Exercise Price

 

Outstanding at December 31, 2024

 

 

913,909

 

 

$

2.14 - 9.38

 

 

$

6.52

 

Granted

 

 

—

 

 

 

 

—

 

 

 

—

 

Cancelled

 

 

(33,770

)

 

 

4.89 - 9.38

 

 

 

7.37

 

Exercised

 

 

(82,081

)

 

 

4.89 - 7.25

 

 

 

6.29

 

Outstanding at December 31, 2025

 

 

798,058

 

 

 

2.14 - 9.38

 

 

 

6.50

 

Granted

 

 

—

 

 

 

 

—

 

 

 

—

 

Cancelled

 

 

(607

)

 

 

 

—

 

 

 

5.98

 

Exercised (1)

 

 

(2,224

)

 

 

4.89 - 7.25

 

 

 

5.85

 

Outstanding at March 31, 2026 (2)

 

 

795,227

 

 

$

4.89 - 7.25

 

 

$

6.50

 

Options exercisable at:

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

798,058

 

 

$

2.14 - 9.38

 

 

$

6.50

 

March 31, 2026 (2)

 

 

795,227

 

 

$

4.89 - 7.25

 

 

$

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 less than $0.1 million for the three months ended March 31, 2026 and $0.3 million for the year ended December 31, 2025.
(2)
The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at March 31, 2026 and the related exercise price of the underlying options, was $1.6 million for outstanding options, all of which had previously vested. The remaining contractual life was 3.9 years for outstanding options at March 31, 2026.
Summary of Activity for Unvested Options Outstanding

The following table presents activity for the unvested options outstanding under the plans for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

Number of
Options

 

 

 

Exercise Price
Per Share

 

 

Weighted
Average
Exercise Price

 

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

 

 

—

 

 

 

 

—

 

 

$

—

 

Granted

 

 

—

 

 

 

 

—

 

 

 

—

 

Cancelled

 

 

—

 

 

 

 

—

 

 

 

—

 

Vested (1)

 

 

—

 

 

 

 

—

 

 

 

—

 

Outstanding at March 31, 2026

 

 

—

 

 

$

 

—

 

 

$

—

 
(1)
The intrinsic value of the options vested was $0.1 million for the year ended December 31, 2025.