v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Activity

The following table presents the Company's total stock-based compensation expense:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Employee stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

Pre-tax

$

1,601

 

 

$

1,348

 

 

$

2,611

 

 

$

1,946

 

Post-tax (1)

 

1,265

 

 

 

1,065

 

 

 

2,063

 

 

 

1,537

 

Director stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

Pre-tax

 

112

 

 

 

123

 

 

 

231

 

 

 

258

 

Post-tax (1)

 

88

 

 

 

97

 

 

 

182

 

 

 

204

 

(1) The after-tax amounts are determined using the 21% corporate federal tax rate.

Schedule of Nonvested Share Activity

The following table presents certain information related to the activity of the Company's non-vested restricted common stock grants:

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Outstanding as of December 31, 2025

 

576,781

 

 

$

10.12

 

Granted

 

490,512

 

 

 

10.94

 

Less: Forfeited

 

6,436

 

 

 

11.28

 

Less: Vested

 

457,171

 

 

 

9.38

 

Outstanding as of June 30, 2026

 

603,686

 

 

$

10.92

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following weighted-average assumptions were used to value the stock options granted during 2026 and 2025 as of the balance sheet dates, June 30, 2026 and December 31, 2025:

 

 

2026

 

 

2025

 

Expected annual dividend yield

 

%

 

 

%

Expected volatility

 

87.19

%

 

 

88.51

%

Risk-free interest rate

 

4.12

%

 

 

3.87

%

Expected term

6 years

 

 

6 years

 

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity

The following table presents certain information related to the activity of the Company's stock option grants:

 

 

Number of
Stock Options

 

 

Weighted
Average
Exercise Prices

 

 

Weighted Average Remaining Contractual Term (years)

 

 

Aggregate
Intrinsic
Value
(1)

 

Outstanding as of December 31, 2025

 

965,730

 

 

$

4.95

 

 

 

6.50

 

 

$

6,949,000

 

Granted

 

100,685

 

 

 

10.59

 

 

 

 

 

 

 

Less: Forfeited

 

 

 

 

 

 

 

 

 

 

 

Less: Expired

 

 

 

 

 

 

 

 

 

 

 

Less: Exercised

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

1,066,415

 

 

$

5.49

 

 

 

6.37

 

 

$

6,319,000

 

 

 

 

 

 

 

 

 

 

 

 

Vested and Exercisable as of June 30, 2026

 

890,677

 

 

$

4.50

 

 

 

5.80

 

 

$

6,186,000

 

(1) Presented in ones.