v3.26.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
EBP 001 [Member]  
EBP, Investment, Fair Value and NAV [Line Items]  
Fair Value Measurements
5.
Fair Value Measurements
The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3).
The three levels of the fair value hierarchy under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820 are described as follows:
Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
Level 2 – Inputs to the valuation methodology include
 
  •  
Quoted prices for similar assets or liabilities in active markets;
 
  •  
Quoted prices for identical or similar assets or liabilities in inactive markets;
 
  •  
Inputs other than quoted prices that are observable for the asset or liability;
 
  •  
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.
Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.
The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2025 and 2024:
 
    
Assets at Fair Value as of December 31, 2025
  
    
Level 1
     
Level 2
     
Level 3
     
Total
  
Company common stock fund
    $ 1,542,582      $ —       $ —       $ 1,542,582  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total assets in the fair value hierarchy
    $ 1,542,582      $ —       $ —         1,542,582  
  
 
 
     
 
 
     
 
 
     
Investments measured at net asset value (a)
               19,111,476  
           
 
 
  
Investments at fair value
             $ 20,654,058  
           
 
 
  
 
    
Assets at Fair Value as of December 31, 2024
  
    
Level 1
     
Level 2
     
Level 3
     
Total
  
Company common stock fund
    $ 1,907,700      $ —       $ —       $ 1,907,700  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total assets in the fair value hierarchy
    $ 1,907,700      $ —       $ —         1,907,700  
  
 
 
     
 
 
     
 
 
     
Investments measured at net asset value (a)
               16,214,390  
           
 
 
  
Investments at fair value
             $ 18,122,090  
           
 
 
  
 
 
(a)
In accordance with FASB ASC
820-10,
certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statement of net assets available for benefits and notes to the financial statements.