| Summary of Option Activity |
A
summary of option and share activity under the EIP during the six-month periods ended June 30, 2026 and 2025 is as
follows:
Summary of Option Activity
| | |
| | |
| | |
Weighted-Average | | |
Aggregate | |
| | |
| | |
Weighted-Average | | |
Remaining Contractual | | |
Intrinsic | |
| | |
Shares | | |
Exercise Price | | |
Term (years) | | |
Value | |
| Outstanding at January 1, 2025 | |
| 89,406 | | |
| | | |
| | | |
| | |
| Granted | |
| 248,428 | | |
$ | 4.44 | | |
| 9.87 | | |
| - | |
| Exercised | |
| - | | |
| | | |
| | | |
| | |
| Forfeitures or expirations | |
| - | | |
| | | |
| | | |
| | |
| Outstanding at March 31, 2025 | |
| 337,834 | | |
| | | |
| | | |
| | |
| Granted | |
| 61,005 | | |
$ | 4.14 | | |
| 9.98 | | |
| - | |
| Exercised | |
| - | | |
| | | |
| | | |
| | |
| Forfeitures or expirations | |
| - | | |
| | | |
| | | |
| | |
| Outstanding at June 30, 2025 | |
| 398,839 | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and expected to vest at June 30, 2025 | |
| 398,839 | | |
| | | |
| | | |
| | |
| Exercisable at June 30, 2025 | |
| 2,643 | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Outstanding at January 1, 2026 | |
| 956,017 | | |
| | | |
| | | |
| | |
| Granted | |
| 198,862 | | |
$ | 5.95 | | |
| 9.89 | | |
| - | |
| Released | |
| (55,436 | ) | |
| | | |
| | | |
| | |
| Exercised | |
| - | | |
| | | |
| | | |
| | |
| Forfeitures or expirations | |
| - | | |
| | | |
| | | |
| | |
| Outstanding at March 31, 2026 | |
| 1,099,443 | | |
| | | |
| | | |
| | |
| Granted | |
| 3,860 | | |
$ | 5.47 | | |
| 10 | | |
| - | |
| Exercised | |
| - | | |
| | | |
| | | |
| | |
| Forfeitures or expirations | |
| - | | |
| | | |
| | | |
| | |
| Outstanding at June 30, 2026 | |
| 1,103,303 | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and expected to vest at June 30, 2026 | |
| 1,103,303 | | |
| | | |
| | | |
| | |
| Exercisable at June 30, 2026 | |
| 502,918 | | |
| | | |
| | | |
| | |
|