v3.26.1
Shareholders' Equity
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Shareholders' Equity

(9.) SHAREHOLDERS’ EQUITY

Common Stock

The changes in shares of common stock were as follows for the three and six months ended June 30, 2026 and 2025:

 

 

 

Outstanding

 

 

Treasury

 

 

Issued

 

2026

 

 

 

 

 

 

 

 

 

Shares at December 31, 2025

 

 

19,797,407

 

 

 

902,149

 

 

 

20,699,556

 

Restricted stock units released

 

 

83,169

 

 

 

(83,169

)

 

 

—

 

Treasury stock purchases

 

 

(194,206

)

 

 

194,206

 

 

 

—

 

Shares at March 31, 2026

 

 

19,686,370

 

 

 

1,013,186

 

 

 

20,699,556

 

Restricted stock awards issued

 

 

15,384

 

 

 

(15,384

)

 

 

—

 

Stock awards

 

 

2,020

 

 

 

(2,020

)

 

 

—

 

Restricted stock units released

 

 

4,400

 

 

 

(4,400

)

 

 

—

 

Treasury stock purchases

 

 

(1,814

)

 

 

1,814

 

 

 

—

 

Shares at June 30, 2026

 

 

19,706,360

 

 

 

993,196

 

 

 

20,699,556

 

2025

 

 

 

 

 

 

 

 

 

Shares at December 31, 2024

 

 

20,076,572

 

 

 

622,984

 

 

 

20,699,556

 

Restricted stock awards issued

 

 

667

 

 

 

(667

)

 

 

—

 

Stock awards

 

 

654

 

 

 

(654

)

 

 

—

 

Restricted stock units released

 

 

50,270

 

 

 

(50,270

)

 

 

—

 

Treasury stock purchases

 

 

(18,451

)

 

 

18,451

 

 

 

—

 

Shares at March 31, 2025

 

 

20,109,712

 

 

 

589,844

 

 

 

20,699,556

 

Restricted stock awards issued

 

 

14,971

 

 

 

(14,971

)

 

 

—

 

Stock awards

 

 

2,892

 

 

 

(2,892

)

 

 

—

 

Shares at June 30, 2025

 

 

20,127,575

 

 

 

571,981

 

 

 

20,699,556

 

Share Repurchase Programs

In September 2025, the Company’s Board of Directors (the “Board”) authorized a share repurchase program, for up to 1,006,379 shares of its common stock, or approximately 5% of the Company’s then outstanding common shares, which replaced and terminated the prior share repurchase program authorized by the Board in June 2022. Repurchased shares are recorded in treasury stock, at cost, which includes any applicable transaction costs. The repurchase program does not obligate the Company to purchase any shares and it may be extended, modified, or discontinued at any time. Under this program, the Company repurchased 163,197 common shares at an average price of $31.50 per share during the three months ended March 31, 2026, and no shares were repurchased during the three months ended June 30, 2026. As of June 30, 2026, 506,313 shares remain available for repurchase under this program.