STOCK BASED COMPENSATION |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK BASED COMPENSATION | NOTE 12 – STOCK BASED COMPENSATION
2025 Incentive Compensation Plan.
The 2025 Plan was approved by the stockholders of the Company at the special meeting of stockholders held on January 30, 2026, and became effective on April 27, 2026. The 2025 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units, deferred stock awards, dividend equivalents, performance bonus awards, and other stock-based awards to employees, directors, non-employee directors, and consultants of the Company and its affiliates and subsidiaries. The 2025 Plan is administered by the Compensation Committee of the Board. The aggregate number of shares of Common Stock that may be issued or transferred pursuant to awards under the 2025 Plan may not exceed 15% of the number of shares of Common Stock issued and outstanding from time to time; the maximum number of shares deliverable upon exercise of incentive stock options is 300,000, subject to adjustment as provided in the 2025 Plan.
In connection with the adoption of the 2025 Plan, the Board approved forms of Stock Option Award Agreement, Restricted Stock Unit Award Agreement, and Restricted Stock Award Agreement to be used in connection with awards granted under the 2025 Plan.
RSUs:
For the three and six months ended June 30, 2026, the Company recognized $576,671 of expense related to restricted stock units. As of June 30, 2026, unrecognized compensation cost related to unvested service-based restricted stock units was $2,428,328, expected to be recognized over a weighted-average period of 1.23 years. Unrecognized compensation cost related to performance-based restricted stock units for which achievement of the performance condition was not considered probable as of June 30, 2026 was $1,199,994. As of June 30, 2026, non-vested restricted stock units consisted of 185,806 service-based RSUs and 78,947 performance-based RSUs.
Options:
For the three and six months ended June 30, 2026, the Company recognized $6,457,268 of expense related to stock options. As of June 30, 2026, unrecognized compensation cost related to unvested stock options was $3,661,733, expected to be recognized over a weighted-average period of 0.12 years. |
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