v3.26.1
Note 7 - Equity Incentive Plan
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

Note 7 — Equity Incentive Plan

 

In May 2013, the Company adopted the 2013 Equity Incentive Plan (as amended and restated, the “Plan”) and reserved shares of common stock for issuance under the Plan, which was last amended in June 2026. The Plan is administered by the Compensation Committee of the Company’s Board of Directors (the “Board”). At June 30, 2026, 892,022 shares of common stock were available for issuance under the Plan.

 

A summary of the Company’s stock option activity and related information is as follows:

 

                   

Weighted

  
           

Weighted

    

Average

  
           

Average

    

Remaining

  
   

Stock

    

Exercise

    

Life

  
   

Options

    

Price

    

(in years)

  

Outstanding at December 31, 2025

     370,814     $ 7.48       2.6  

Forfeited/Expired

     (30,431 )   $ 18.90          

Outstanding at June 30, 2026

     340,383     $ 6.46       2.3  

 

All outstanding stock options were exercisable at June 30, 2026.

 

A summary of the Company’s restricted stock unit (“RSU”) and performance stock unit (“PSU”) activity is as follows:

 

   

RSUs

    

PSUs

  

Outstanding at December 31, 2025

     645,557       357,438  

Granted

     242,163       70,000  

Vested

     (149,813 )     (109,646 )

Forfeited

     (125,315 )     (32,214 )

Outstanding at June 30, 2026

     612,592       285,578  

 

During the six months ended June 30, 2026, the Company granted 90,910 RSUs to Board members, 20,000 RSUs and 20,000 PSUs to executives and 131,253 RSUs and 50,000 PSUs to employees under the Plan. The estimated fair value of these equity grants was $1,284,260, of which $274,915 was recognized in stock-based compensation expense totaling $1,635,526 for the six months ended June 30, 2026.

 

At June 30, 2026, there was $2,975,451 of unrecognized compensation cost related to non-vested equity awards. That cost is expected to be recognized over a weighted average period of 1.1 years.