Stock Options and Restricted Stock (Tables)
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6 Months Ended |
Jun. 30, 2026 |
| Stock Options and Restricted Stock |
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| Summary of weighted average assumptions used in the model for valuing stock option grants |
The weighted average assumptions used in the model for valuing stock options grants for the six months ended June 30, 2026 are as follows: | | | | | | June 30, | | | | 2026 | | Dividend Yield | | — | % | Expected Life | | 7 | Years | Expected Volatility | | 30.88 | % | Risk-Free Interest Rate | | 4.02 | % |
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| Summary of the status of the Company's outstanding stock options |
The following table presents a summary of the status of the Company’s outstanding stock options for the six months ended June 30, 2026: | | | | | | | | June 30, 2026 | | | | | Weighted | | | | | Average | | | Shares | | Exercise Price | Outstanding at Beginning of Year | | 1,935,175 | | $ | 11.59 | Granted | | 35,000 | | | 17.76 | Exercised | | (109,831) | | | 10.70 | Forfeitures | | (30,000) | | | 13.24 | Outstanding at Period End | | 1,830,344 | | $ | 11.74 | | | | | | | Options Exercisable at Period End | | 1,381,093 | | $ | 11.19 |
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| Summary of information pertaining to options outstanding based on range of exercise price |
The following table presents information pertaining to options outstanding at June 30, 2026: | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | | | | | Weighted Average | | | | | | | | Number of | | Weighted Average | | Remaining Contractual | | Number of | | Weighted Average | Range of Exercise Prices | | Options | | Exercise Price | | Life in Years | | Options | | Exercise Price | $ | 7.00 - 7.99 | | 622,892 | | $ | 7.47 | | 1.3 | | 622,892 | | $ | 7.47 | | 8.00 - 8.99 | | 2,961 | | | 8.76 | | 3.8 | | 2,961 | | | 8.76 | | 10.00 - 10.99 | | 173,750 | | | 10.65 | | 7.1 | | 69,749 | | | 10.65 | | 11.00 - 11.99 | | 171,125 | | | 11.11 | | 6.2 | | 98,375 | | | 11.12 | | 12.00 - 12.99 | | 236,616 | | | 12.91 | | 3.1 | | 236,616 | | | 12.91 | | 13.00 - 13.99 | | 252,500 | | | 13.77 | | 8.6 | | 65,000 | | | 13.75 | | 17.00 - 17.99 | | 310,500 | | | 17.50 | | 5.9 | | 285,500 | | | 17.50 | | 18.00 - 18.99 | | 60,000 | | | 18.08 | | 9.5 | | — | | | — | | Totals | | 1,830,344 | | $ | 11.74 | | 4.6 | | 1,381,093 | | $ | 11.19 |
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| Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding |
The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the six months ended June 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Shares | | Date Fair Value | Nonvested Options at December 31, 2025 | | 584,251 | | $ | 5.69 | Granted | | 35,000 | | | 7.36 | Vested | | (140,000) | | | 5.55 | Forfeited | | (30,000) | | | 5.67 | Nonvested Options at June 30, 2026 | | 449,251 | | $ | 5.87 |
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| Summary of the status of the Company's outstanding restricted stock units |
The following table presents an analysis of nonvested restricted stock units outstanding for the six months ended June 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Units | | Date Fair Value | Nonvested at December 31, 2025 | | 447,661 | | $ | 15.24 | Granted | | 64,419 | | | 19.54 | Vested | | (50,373) | | | 13.93 | Forfeited | | (12,106) | | | 16.67 | Nonvested at June 30, 2026 | | 449,601 | | $ | 15.96 |
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| Summary of analysis of nonvested restricted stock performance units |
The following table presents an analysis of nonvested performance stock units outstanding for the six months ended June 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Units | | Date Fair Value | Nonvested at December 31, 2025 | | — | | $ | — | Granted | | 121,784 | | | 18.75 | Vested | | — | | | — | Forfeited | | — | | | — | Nonvested at June 30, 2026 | | 121,784 | | $ | 18.75 |
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