Note 8 - Share-based Compensation |
3 Months Ended | ||
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Mar. 31, 2026 | |||
| Notes to Financial Statements | |||
| Share-Based Payment Arrangement [Text Block] |
During the year ended December 31, 2022, the Company granted to certain employees an aggregate of 76,755 restricted stock units that vested over a -year period through July 15, 2024 and 280,245 performance shares that vested upon achievement of certain stock price hurdles as measured during the period from July 15, 2020 through July 15, 2024. Each of the time-based and market-condition awards were subject to the recipient’s continued service with us, the terms and conditions of our stock incentive plan and the applicable award agreement.
As of December 31, 2025, all 160,100 shares issuable under the Plan had been issued to employees, and no vested or unvested awards remained outstanding. On April 16, 2025, the Company issued the final tranche of 36,551 restricted stock units, of which 10,454 shares were withheld to satisfy employee payroll tax withholding obligations. In total, the Company withheld 49,466 shares during 2025 related to the issuance of vested restricted stock units. The withheld shares are reported as treasury stock on the balance sheets.
The share-based compensation expense recognized is included in general and administrative expense in the statements of operations. The total fair value of the awards was $3,374,002 of which $0 was unrecognized stock-based compensation expense as of December 31, 2025 and March 31, 2026.
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