A summary of restricted stock award activity for the three and six months ended June 30, 2026 and 2025 is included in the table below, as well as compensation expense recognized from the amortization of the value of shares over the applicable amortization periods.


		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars and shares in thousands)		2026		2025		2026		2025
Stock-based awards, beginning of period		1,573		1,598		1,518		1,560
	Stock in lieu of compensation	23		28		83		89
	Stock awards	44		56		103		114
	Total stock granted	67		84		186		203
	Vested shares	(32)		(225)		(95)		(306)
	Forfeited shares	—		(2)		(1)		(2)
Stock-based awards, end of period		1,608		1,455		1,608		1,455
Amortization expense (1)		$	2,340	$	6,735	$	4,618	$	9,360
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(1) Amortization expense for the six months ended June 30, 2025 includes accelerated amortization totaling $4.4 million related to the termination of a former executive officer.

During the first quarter of 2026, pursuant to the 2024 Incentive Plan and the Fourth Amended and Restated Alignment of Interest Program, the Company granted 101,305 shares of restricted common stock to its employees, in lieu of salary, that will cliff vest between three and eight years. Of the shares granted, 60,456 shares of restricted stock were granted in lieu of compensation from the program pool and 40,849 shares of restricted stock were awards granted from the plan pool. Also, during the first quarter of 2026, pursuant to the Second Amended and Restated Non-Executive Officer Incentive Program, the Company granted 18,103 shares of restricted stock to certain employees that will cliff vest in five years.

On May 7, 2026, pursuant to the 2024 Incentive Plan, the Company granted an aggregate of 31,110 shares of restricted stock to its Board of Directors, which will cliff vest in three years. On May 21, 2026, pursuant to the 2024 Incentive Plan and the Fourth Amended and Restated Alignment of Interest Program, the Company granted an aggregate of 35,055 shares of restricted stock to its Board of Directors, in lieu of fees, that will cliff vest in three years. Of the shares granted, 21,908 shares of restricted stock were granted in lieu of compensation from the program pool and 13,147 shares of restricted stock were awarded based on the restriction period elected from the plan pool.

A summary of the Company's restricted stock unit (RSU) activity during the three and six months ended June 30, 2026 and 2025, respectively, is included in the table below, as well as compensation expense recognized from the amortization of the value of RSUs over the applicable amortization periods.


		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars and RSUs in thousands)		2026		2025		2026		2025
Restricted Stock Units, beginning of period		205		123		205		123




	Vested RSUs (1)	(22)		(28)		(22)		(28)
	Forfeited RSUs(2)	(86)		—		(86)		—
Restricted Stock Units, end of period		97		95		97		95
Amortization expense(3)		$	438	$	230	$	871	$	472
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(1) The number of time-based RSUs granted were based on target levels and vest ratably on June 30 of each year of the respective three-year periods ending June 30, 2026 and 2028, provided the recipient remains continuously employed by the Company on each such date.
(2) RSUs with a 3-year performance period ended June 30, 2026 did not meet required performance levels and were forfeited.
(3) Amortization expense of RSUs for the three and six months ended June 30, 2025 includes accelerated amortization totaling $0.2 million related to the termination of a former executive officer.