Stock-Based Compensation and Employee Benefits |
3 Months Ended |
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Mar. 31, 2026 | |
| Share-Based Payment Arrangement [Abstract] | |
| Stock-Based Compensation and Employee Benefits | Stock-Based Compensation and Employee Benefits Stock-Based Compensation On July 9, 2025, the Company adopted the 2025 Omnibus Incentive Plan (the "2025 Plan"), which replaced the 2016 Equity Compensation Plan. The purpose of the 2025 Plan is to align the interests of the Company’s officers, other employees, advisors and consultants or any subsidiary, if any, with those of the Company’s shareholders and to afford an incentive to such officers, employees, consultants and advisors to continue as such, to increase their efforts on the Company’s behalf and to promote the success of the Company’s business. The maximum number of the Company's common shares, par value $0.001 per share (the "Common Shares") reserved for grant of awards under the 2025 Plan is 2,936,762. The number of securities remaining available for future issuance under the 2025 Plan as of March 31, 2026 was 2,271,230. During the three months ended March 31, 2026, the Company granted an aggregate of 282,217 restricted Common Shares, net of shares surrendered to cover taxes, under the 2025 Plan with a grant date fair value of $0.3 million. During the three months ended March 31, 2025, the Company granted an aggregate of 767,668 restricted Common Shares, of which a grant of 420,168 shares was rescinded immediately after the grant, with a grant date fair value of $0.9 million. Stock-based compensation for the three months ended March 31, 2026 and 2025 was $0.3 million and $0.3 million, respectively. As of March 31, 2026, there was unrecognized stock-based compensation expense of $0.8 million. Employee Benefits On April 16, 2018, the Company’s Board of Directors approved the adoption of the Sachem Capital Corp. 401(k) Profit Sharing Plan (the “401(k) Plan”). All employees, who meet the participation criteria, are eligible to participate in the 401(k) Plan. Under the terms of the 401(k) Plan, the Company is obligated to contribute 3% of a participant’s compensation to the 401(k) Plan on behalf of an employee-participant. For the three months ended March 31, 2026 and 2025, the 401(k) Plan expense was $43,934 and $24,293, respectively, which is included within compensation and employee benefits in the accompanying unaudited Condensed Consolidated Statements of Operations.
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