Under the Company’s Employee and Director Restricted Share Plan (“RSP”), restricted shares generally vest over a one to three year vesting period from the date of the grant, subject to the specific terms of the grant. In accordance with the RSP, restricted shares are issued to non-employee directors as compensation. Restricted shares are included in common stock outstanding on the date of the vesting. The grant-date value of the restricted shares is amortized over the vesting period representing the requisite service period. Compensation expense associated with the restricted shares issued to the non-employee directors was $38 and $34, in the aggregate, for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, the Company had $177 of unrecognized compensation expense related to the unvested restricted shares, in the aggregate. The weighted average remaining period that compensation expense related to unvested restricted shares will be recognized is 1.6 years. There were no restricted shares that vested during the three months ended March 31, 2026 and 2025.

A summary table of the status of the restricted shares is presented below:


	Restricted Shares
Outstanding at December 31, 2025		16,648
Granted		—
Vested		—
Outstanding at March 31, 2026		16,648