Stock Compensation |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Share-Based Payment Arrangement [Abstract] | |
| Stock Compensation | 9. Stock Compensation The Company’s 2024 Long-Term Incentive Plan (the “2024 Plan”) was adopted by the Board of Directors on February 29, 2024, and approved by shareholders in the annual shareholder meeting on April 25, 2024. The 2024 Plan authorizes the Compensation Committee to issue up to 2,500,000 additional various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. Stock compensation expense was approximately $1.7 million and $0.6 million for the quarters ended June 30, 2026 and 2025, respectively, and $2.9 million and $1.5 million for the six months ended June 30, 2026 and 2025, respectively. These expenses are included in Selling, general and administrative expenses. Changes in expected performance under performance share award arrangements can cause volatility in stock compensation expense. Total unrecognized compensation cost related to non-vested stock-based compensation arrangements at June 30, 2026 was approximately $8.8 million, which will be recognized over the next three years, as such compensation is earned. Outstanding options expire, if unexercised, ten years from the date of grant. |