v3.26.1
Stock Options and Warrants (Tables)
 3 Months Ended
Mar. 31, 2026
Stock Options And Warrants [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2026 and 2025 is presented below:

 

 

March 31, 2026

 

 

March 31, 2025

 

 

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

Outstanding at beginning of period

 

 

830,500

 

 

$

19.08

 

 

 

944,255

 

 

$

18.76

 

Acquired and converted options from acquisition (*)

 

 

177,404

 

 

 

26.91

 

 

 

—

 

 

 

—

 

Granted during the period

 

 

51,800

 

 

 

37.56

 

 

 

5,000

 

 

 

35.40

 

Forfeited during the period

 

 

(9,000

)

 

 

17.11

 

 

 

(3,916

)

 

 

16.78

 

Exercised during the period

 

 

(32,553

)

 

 

22.25

 

 

 

(41,089

)

 

 

17.74

 

Outstanding at the end of period

 

 

1,018,151

 

 

$

21.30

 

 

 

904,250

 

 

$

18.91

 

Options exercisable at end of period

 

 

775,149

 

 

$

19.70

 

 

 

604,580

 

 

$

18.13

 

Weighted-average grant date fair value of options granted during the period

 

 

 

 

$

10.64

 

 

 

 

 

$

13.87

 

(*) Includes 29,852 options granted post-merger under the Keystone Plan which are not fully vested.
Schedule of Nonvested Share Activity

A summary of the activity in the Company’s nonvested shares for the three months ended March 31, 2026 and 2025 is as follows:

 

 

March 31, 2026

 

 

March 31, 2025

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

Nonvested at beginning of period

 

 

179,450

 

 

$

5.33

 

 

 

320,970

 

 

$

4.50

 

Acquired and converted options from acquisition

 

 

171,893

 

 

n/a

 

 

 

—

 

 

 

0.00

 

Granted during the period

 

 

51,800

 

 

 

5.79

 

 

 

5,000

 

 

 

13.87

 

Vested during the period

 

 

(160,141

)

 

 

22.71

 

 

 

(26,300

)

 

 

3.47

 

Nonvested at end of period

 

 

243,002

 

 

$

7.19

 

 

 

299,670

 

 

$

4.75

 
Summary of Activity for Non-vested RSAs

A summary of the activity for non-vested RSAs for the three months ended March 31, 2026 and 2025 is presented below:

 

 

March 31, 2026

 

 

March 31, 2025

 

 

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

Nonvested at beginning of period

 

 

94,297

 

 

$

20.45

 

 

 

98,240

 

 

$

19.38

 

Granted during the period

 

 

79,048

 

 

 

38.74

 

 

 

23,221

 

 

 

32.38

 

Vested during the period

 

 

(31,613

)

 

 

16.05

 

 

 

(33,332

)

 

 

15.42

 

Forfeited during the period

 

 

—

 

 

 

—

 

 

 

(4,308

)

 

 

25.80

 

Nonvested at the end of period

 

 

141,732

 

 

$

35.80

 

 

 

83,821

 

 

$

23.01