Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2026

Schedule Of Share Based Compensation Restricted Stock Units

The following table includes the number of RSUs granted, vested, forfeited and outstanding to certain employees of the Adviser, officers of the Company and non-employee Board members under the 2018 LTIP and 2023 LTIP:


Grant Date	Shares Granted		Shares Vested		Shares Forfeited		Shares Outstanding
December 10, 2019		73,701		73,701		—		—
May 11, 2020		179,858		173,750		6,108		—
February 15, 2021		191,506		185,099		6,407		—
February 17, 2022		185,111		179,810		5,301		—
April 11, 2023		186,770		74,322		4,644		107,804
April 3, 2024		191,937		54,231		2,998		134,708
April 4, 2025		229,371		67,096		831		161,444
April 2, 2026		309,787		—		—		309,787
Total		1,548,041		808,009		26,289		713,743

Schedule of Number of RSUs Outstanding

As of June 30, 2026, the number of RSUs granted, vested, forfeited and outstanding was as follows (dollars in thousands):


Dates	Number of RSUs				Value (1)
Outstanding December 31, 2025		621,084			$	35,412
Granted		309,787				17,001
Vested		(216,297	)	(2)		(11,825	)
Forfeited		(831	)			(45	)
Outstanding June 30, 2026		713,743			$	40,543

(1)

Value is based on the number of RSUs granted multiplied by the most recent NAV per share on the date of grant, which is an estimated fair value, which was $54.88 for the April 2, 2026 grant, $54.54 for the April 4, 2025 grant, $58.95 for the April 3, 2024 grant, $63.04 for the April 11, 2023 grant and $54.14 for the February 17, 2022 grant. Related to the accelerated RSU award vestings, the NAV per share on the date of modification was $54.56.

(2)

Certain grantees elected to use vested shares to satisfy the taxes owed upon vesting and the compensation committee approved cash settlement of 53,877 and 6,781 restricted stock units, respectively, against the shares of Common Stock issued resulting in 155,532 shares of Common Stock being issued for the six months ended June 30, 2026 as shown on the consolidated statements of stockholders' equity.

Schedule of Outstanding RSUs

The vesting schedule for the outstanding RSUs is as follows:


Vest Date	RSUs Vesting (1)
February 15, 2027		53,815
April 2, 2027		87,288
April 3, 2027		22,451
April 11, 2027		107,804
February 15, 2028		127,981
April 3, 2028		112,256
February 15, 2029		127,981
February 15, 2030		74,167
		713,743

(1)

As of June 30, 2026, upon the successful completion of an IPO, Company Listing Event or change of control of the Company, 176,048 RSUs would vest immediately, instead of vesting on the final time vesting date according to the schedule above.