The Company provides stock-based compensation to key employees in the form of restricted stock awards (RSAs) and, beginning in March 2026, restricted stock units (RSUs). The Company's stock-based compensation plans are designed to attract, retain, and reward employees while aligning the interests of the employees with the success of the Company. Awards are determined by the Company's Human Resources Committee of the Board of Directors.

The following represents a summary of changes in the Company's nonvested restricted stock shares as of June 30, 2026.


	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2026	602,300	$	13.31
Granted	245,953	24.56
Vested	(171,600)	13.28
Forfeited	(5,239)	14.34
Nonvested at June 30, 2026	671,414	$	17.43

The total stock-based compensation expense recognized for restricted stock awards and restricted stock units was $1.5 million and $0.7 million in the three months ended June 30, 2026 and 2025, respectively, and $2.5 million and $1.6 million in the six months ended June 30, 2026 and 2025, respectively. This expense is calculated on the graded-vesting method and is included in salaries and employee benefits.

Additionally, the Company adopted an employee stock purchase program in May 2026 (the "2026 ESPP") that allows eligible employees to purchase shares of the Company's Class A common stock at periodic intervals using accumulated payroll deductions. As of June 30, 2026, there were 1,200,000 shares authorized under the 2026 ESPP. As of June 30, 2026, the first offering under the 2026 ESPP had not commenced.